A third initiative, the Nestle Prize in Creating Shared Value, provides financial support of up to CHF 500,000 (USD 461,000) to individuals, NGOs, or small enterprises offering innovative solutions to nutritional deficiencies, access to clean water, or progress in rural development. Nestle will award the prize every two years.
"Reducing water use, improving nutrition and helping rural communities grow in the ways they want to develop are as essential to the company's business strategy as they are to creating a healthier world. These new initiatives will benefit the people we touch and are essential building blocks for Nestle to become the world's recognised leading nutrition, health and wellness company," said Paul Bulcke, CEO of Nestle.
Over decades, Nestle has worked with millions of milk and coffee farmers to make them better suppliers, and in doing so, has helped them out of poverty and to prosper. Today, Nestle works directly with almost 600,000 farmers throughout the world, providing around CHF 30 million (over USD 27 million) worth of microfinance in 2008. About 2.4 million people in developing countries earn their livelihoods from the Nestle supply chain. These examples show that the health of the communities from which Nestle draws its labour and raw materials are vital to its success as a business and to its shareholder value.
"Nestle has become the world's foremost nutrition, health and wellness company, with half its factories and employees in the developing world. We owe our success in large part to those communities, and it's that understanding that guides us to do even more than we have done before," added Mr. Bulcke.
On 27 and 28 April 2009, Nestle is organising a forum on Creating Shared Value in New York in collaboration with the United Nations Office for Partnerships and the Swiss Mission to the United Natio
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