Business Times

Nestlé opens nominations for Rs 55 mln-worth 2012 Prize in ‘Creating Shared Value’

Over Rs 55 million will be awarded as financial support to individuals and organizations working in the fields of Nutrition, Water and Rural Development in a global prize offered by Nestle, the milk powder multinational.

It’s 2012 Global award for Creating Shared Value was announced with a call for entries at the International Food Policy Research Institute (IFPRI) global conference on ‘Leveraging Agriculture for Improving Nutrition and Health’ in Delhi, India.

Antonio Helio Waszyk, Chairman of Nestlé Lanka PLC and Head of Nestlé South Asia Region said Nestlé’s basic approach to business is to ‘Create Shared Value’ for its shareholders and the communities where it operates.

“This prize however goes beyond Nestlé’s own efforts. It encourages and rewards the most innovative examples of Creating Shared Value in action. I am delighted to announce the opening of global nominations for the 2012 Nestlé prize in Creating Shared Value at this important global event of IFPRI, especially because some of the important development challenges that are brought to the fore by IFPRI are also addressed by this prize,” he said in a statement issued by Nestle.

The Nestlé Prize in Creating Shared Value is awarded in alternate years to an innovation or project that has shown outstanding promise in improving access to, or management of, water; enhancing the lives of farmers and rural communities; or providing better nourishment to communities suffering from nutritional deficiencies. The prize was launched in 2009 and offers advice and financial support of up to CHF 500,000 (more than $480,000 or Rs 55 million) to an individual, non-government organisation, or small enterprise working in the field of nutrition, water, or rural development.

The winner is supported by a financial commitment over a period of time to assist in the development of their project or innovation. Applicants can either self-nominate or be nominated by others who are familiar with their work.

The winner is selected by the CSV Advisory Board which consists of independent and internationally-recognised experts in corporate strategy, nutrition, water and rural development. The project should already have achieved small scale success and must be considered feasible on a broader level, or in other communities. While applicants may be based anywhere in the world, their initiative must be implemented in a developing country and backed by a sustainable business model.

The nomination period closes on 30 June 2011. The recipient will be announced in 2012.

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