UVA Darden School Institute for Business in Society and Faculty Participate in 2015 Concordia Summit

The  University of Virginia Darden School of Business  Institute for Business in Society participated in several events during the  2015 Concordia Summit on 1-2 October in New York City, which convened world leaders and top decision makers from government, business, academia and the non-profit sectors to address pressing global challenges by highlighting how cross-sector collaboration can create social and economic impact.

The Institute for Business in Society — a Darden research center that prepares students and business practitioners to positively impact society through business — partnered with  Concordia and the  U.S. Department of State Secretary’s Office of Global Partnerships to present the second annual  P3 Impact Award. In addition to recognizing and honoring public-private partnerships (P3s) that are improving communities, the competition provides thought leadership, generates a database of information and promotes best practices relevant to public-private partnerships.

The Darden School’s summit participation began on 30 September with a  media briefing on the P3 Impact Award at the U.S. Department of State Foreign Press Center. During the media briefing, Institute for Business in Society Executive Director  Dean Krehmeyer noted: “What we’re seeing is that businesses absolutely and increasingly are joining in public-private partnerships to address global challenges. They are providing a far-reaching impact on the communities and societies in which they operate.”

Krehmeyer added, “This is of interest to students who are going to be tomorrow’s leaders engaging in these public-private partnerships.”

Addressing public-private partnerships, Special Representative for Global Partnerships at the U.S. Department of State  Andrew O’Brien stated, “We are trying to help people around the world prepare for an economy that’s 21st century and beyond.”

O’Brien added: “At the University of Virginia Darden School, there’s the colloquial expression ‘Talk the talk, walk the walk,’ and they do. What we’re talking about today [cross-sector collaboration] is infused in their students, it’s infused in their learning life.”

Darden Professors  Mary Margaret Frank and  Gregory Fairchild, who serve as academic directors of the Institute for Business in Society, served as speakers for several panel discussions throughout the summit.

Fairchild joined representatives of  My Brother’s Keeper Alliance to address systematic barriers facing boys and young men of color, stressing that improvement will require work across sectors in order to invest in communities, spark innovation and create positive change.

Frank served on two panels, including a discussion on lessons learned from one of five P3 Impact Award finalists. She also facilitated a workshop on the Concordia Partnership Index, a tool used to assess global partnership environments.

During the summit, the Darden School released the  Darden Ideas to Action 2015 Special Edition: Insights & Innovation from the P3 Impact Award report, which features leading practices and actionable insights from the award winner and finalists. The report is used to develop teaching cases and other materials to share and advance best practices with other P3s around the world.

U.S. Vice President Joe Biden, who was among global leaders in attendance at the Summit, also delivered a speech addressing corruption, sustainable development and climate change through the lens of public-private partnerships.

Darden’s summit activities culminated with the announcement of TV White Space Partnership in the Danajon Reef as this year’s  P3 Impact Award winner, which was presented by Frank, O’Brien and Concordia Director of Research  Natalie Pregibon. The winner was announced by  U.S. Secretary of State John F. Kerry, who appeared remotely via video satellite.