According to the State of Shared Value in Australia report by the Shared Value Project and Social Ventures Australia, shared value relates to both company policy and practice, and is defined as “a business strategy focused on companies creating measurable economic benefit by identifying and addressing social problems that intersect with their business”.

The Ministerial Statement is the Government’s invitation to the private sector to collaborate with Department of Foreign Affairs and Trade (DFAT) in development.

This is the first time Australia has had an aid policy which clearly identifies the private sector as an essential partner to achieving sustainable development outcomes.

The report outlines the Australian Government’s vision for engaging the private sector in aid and development. It also acknowledges that the private sector has the means and increasingly the motivation to contribute to development outcomes as part of their core business.
It invites the private sector to collaborate with the aid program on implementing sustainable solutions that tackle development challenges whilst delivering commercial returns.