Founder and Chairperson of Impact Investment Exchange Asia (IIX), and also Impact Investment Shujog (Shujog) Professor Durreen Shahnaz has won the 2014 Joseph Wharton Award for Social Impact.
The award is presented annually to the alumnus who has made a significant impact in public services, social enterprise or philanthropy. The Joseph Wharton Award is one of the highest honour that Wharton Business School confers on its alumni.
Professor Shahnaz received the award at the Metropolitan Club, New York City on Thursday.
Professor Shahnaz was honoured with the award for her efforts in bringing impact investing to the masses through her work at IIX and Shujog. IIX and Shujog, both Singapore-based organisations, have been at the forefront of driving impact investing, particularly across the Asia Pacific region.
In her acceptance speech, Professor Shahnaz said: “Equitable and sustainable growth cannot be reached within our current systems. There has to be a middle ground between profit maximising businesses and charitable organisations that rely on donations.”
“This middle ground, or third way, is impact investing, a vibrant marketplace where social, environmental and financial returns come together” She added.
Other recipients of the 2014 Joseph Wharton Awards include Robert Crandall, Former Chairman of American Airlines, Alex Gorsky, Chairman of Johnson & Johnson and Neil Blumenthal and Dave Gilboa, Co-founders and Co-CEOs of Warby Parker.