Creating Shared Value
CSV Green Paper
Net Balance has continued its contribution to the debate and discussion around creating shared value (CSV) with the release of Australia’s first research into the area. Responding to the growing interest in CSV and wanting to examine how it is applied in the Australian context, Net Balance released its preliminary report at the CSV conference in Melbourne in 2013. Net Balance, NAB and 3 Pillars Network hosted the event with Marc Pfitzer from FSG as the keynote speaker. The conference also featured Tim Costello (CEO, World Vision), Paula Benson (General Manager Corporate Responsibility, NAB) and Les Hems (Director, Net Balance).
The Net Balance study looks at how Australian companies are integrating CSV, which is aimed at generating profit by addressing social or environmental issues, into their corporate strategy. The research was undertaken with the support of NAB, Lion, BT Financial, PwC, PwC Indigenous Consulting, Nestle, Toyota and Stockland.
‘Traditionally the intent of corporate strategy is to ensure profit, while the intent of corporate social responsibility (CSR) is to address social or environmental issues that are often separate to core business. The strategic intent of CSV is to generate profit while addressing these issues’, said Net Balance Director Terence Jeyaretnam.
‘We believe CSV is a valuable addition to evolving the sustainability and CSR agendas. It does not replace these well-known frameworks, but builds on their core principles and aspires to create business value from strategically addressing societal and environmental issues with new or reframed products, services, business models or supply chains,’ said Terence.
Net Balance’s preliminary study can be found here. A final report will be published in 2014.
Watch Melinda Leth, Senior Associate at Net Balance, discuss the findings from the CSV Green Paper at the 2014 Enterprise Research Network Symposium, held at Sydney University. For more information contact Melinda.