Better Together - partnering with businesses to deliver Positive Impact
The Business Partnerships Platform, also known as the BPP, has been established by Australia’s Department for Foreign Affairs and Trade to accelerate the response to development challenges through Shared Value partnerships with businesses and NGOs (often in consortia). Ten business partnerships have recently been announced between DFAT and companies including Base Titanium, MasterCard, Digicel, and Intrepid Travel; and NGOs such as WWF and Australian Volunteers International.
The BPP’s priority is to support economic growth, incomes and jobs. The private sector is the most significant generator of capital and has the greatest capacity to provide sustainable employment. In short, the private sector has an absolutely critical role to play in responding to the development challenges we face across the globe.
Round 1 of these partnerships will support work the Australian Government is undertaking in seven countries (Indonesia, Papua New Guinea, Myanmar, Vietnam, Pakistan, Nepal and Kenya) and focus on agribusiness, financial services, small enterprise development, off grid energy, health and women’s economic empowerment. They will provide AUS$10.2 million in private sector funding in addition to the Australian Government’s AUS$3.8 million up-front investment in BPP.
Round 2 of the BPP is now open. Further information is available here.
Palladium is working very closely with the Australian Government and partner companies and NGOs to provide technical support, advisory services, administration, and crucially to establish world class measurement frameworks to capture the impact of each partnership.
The BPP has great potential to leverage private sector finance to achieve Positive Impact – a key Palladium priority – which is the intentional creation of enduring social and economic value initiatives where social, environmental, and economic goals are inextricably linked.
Palladium’s Director of Economic Growth Alwyn Chilver is clear that multi-stakeholder partnerships like BPP have the best chance of success in solving the complexity of development challenges:
“At Palladium we see Positive Impact as the intentional creation of enduring social and economic value. The BPP brings together the public and private sectors to stimulate the economic growth that is essential to raising millions out of poverty and building vibrant local economies. We bring deep technical understanding of how to deliver lasting social impact as well as business growth. Our 50 years’ experience partnering with companies, governments and communities is critical to an initiative where success will rest on the ability to establish enduring relationships and networks. I know we are all very excited about playing an important role in the Business Partnerships Platform and look forward to providing world-class support to DFAT in working with their business partners”.
Palladium is a global leader in the development and delivery of Positive Impact – when social, environmental, and economic goals are inextricably linked. We work with governments, corporations, civil society, and non-profits to deliver solutions that transform lives and create enduring value for businesses, communities, societies, and economies.