Mastercard receives 2017 Global Shared Value Award™

NASHVILLE, Tenn. and PURCHASE, N.Y., Nov. 7, 2017 /PRNewswire/ -- Today at the Global Action Summit, hosted by Fareed Zakaria (CNN), Global Action Platform, in association with KPMG International presented the 2017 Global Shared Value Award to Mastercard.

The Global Shared Value Award recognizes and encourages corporations to address major societal challenges through innovative business strategy that create "shared value."  The award recognizes private sector engagement and innovation that improve quality of life and build prosperity for companies, individuals, communities, regions, and the world.

With a commitment to connect 500 million people and 40 million micro and small merchants to financial services by 2020, Mastercard is working to address systemic barriers to inclusion. Mastercard has used its technologies and expertise in payments to develop 2KUZE, a mobile marketplace to help smallholder farmers negotiate quantities, pricing, payment, and distribution through a feature phone. Mastercard's Center for Inclusive Growth is supporting academic research, connecting micro-entrepreneurs to the formal economy, and engaging in data philanthropy efforts – all in an effort to empower people through inclusive economies.

"Our ability to do well and do good lies in the passion and commitment of our people to bring their hearts and minds when they come to work," said Ajay Banga, president and CEO of Mastercard. "Being more attuned to societal challenges gives leaders an opportunity to develop solutions that can drive a meaningful impact. That is the approach we've taken at Mastercard, and we are honored to receive the 2017 Global Shared Value Award for this work."

"At this critical strategic juncture in the global economy as the private sector is moving toward integrating positive social, environmental, and governance impacts into core business operations, Global Action Platform is honored to work with KPMG International in the presentation of this Award," states Dr. Scott T. Massey, Founding Chairman and CEO. 

"KPMG International is excited to continue to work with the Global Action Platform to recognize excellence in creating shared value. Business has a critical role to play, in partnership with governments, civil society and the development community in working towards the global achievement of the Sustainable Development Goals (SDGs). Creating long term shared value, which is good news for business and the community, is an essential element in mobilizing the private sector engagement necessary to achieve the SDGs," said Timothy A.A. Stiles, Global Chair of International Development Assistance Services, and KPMG.

SOURCE Global Action Summit