Nestlé has launched the nominations for the 2016 Nestlé Creating Shared Value Prize, which will award the winners up to 500,000 Swiss fracs ($525,000).

The investment could make a significant difference in helping to scale up or replicate business-oriented initiatives addressing challenges in nutrition, water or rural development, said a statement.

The prize is awarded every second year and its overall aim is to reward the best examples of creating shared value initiatives worldwide and to encourage others to adopt this approach.

Creating shared value runs deep throughout Nestlé's global operations and is based on the belief that for a company to be successful in the long term and create value for its shareholders, it must also create value for society.

In selecting the winner, the Creating Shared Value Council will be looking for an entry that is innovative, applies environmentally sustainable practices, has demonstrated results on a small scale and can be viably scaled-up to help improve people's lives. - TradeArabia News Service