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15 November 2016: The Financial Times and the International Finance Corporation (IFC), a member of the World Bank Group, have launched the 2017 edition of the Transformational Business Awards, a global programme that recognises innovative, long-term private sector solutions to development issues.
The awards, now in their fourth year, are open to all financial and non-financial private sector organisations. In 2016, the programme attracted 155 entries from 219 organisations, involving projects in 92 countries.
This year’s awards will recognise innovation, impact, replicability, financial viability and sustainability on a transactional basis across the following categories:
The awards will give special attention to products and services that harness disruptive technologies and business models to achieve both commercial and sustainability goals. Land rights, governance, poverty and climate change will also be highlighted.
The new Excellence in Disruptive Technologies prize draws from the nominees across all categories to recognise the initiative with the most ground-breaking use of new technology and the strength of its disruptive approach to markets and business models.
The Achievement in Sustainable Development category rewards programmes that help meet key UN Sustainable Development Goals (SDGs), with different goals or targets highlighted every year. The focus in 2017 will be on education, health, and food, water and land management.
An Excellence in Climate Solutions prize is added to the awards list, to reflect the crucial role of the private sector in global efforts to address climate change.
Achievement in Transformational Infrastructure is also a new category that will reward effective, low-carbon infrastructure development – in both urban and non-urban environments – in driving economic and social progress.
The Achievement in City-Led Transformation category, a special public sector category supported by Cities Alliance, is targeted at municipal governments around the world.
Michael Skapinker, associate editor at the Financial Times and co-chair of the judging panel, said: “These awards go to the core of what drives sustainable growth in developing economies. Last year the awards received entries from a record number of organisations that are driving real economic and social change, and we look forward to reviewing this year’s high calibre submissions as well.”
“Modern technologies, and the disruptive business models that can come with them, often attempt to provide solutions to the effects of climate change and connect people to information, capital, and essential services — breaking the digital divide for the 55% of the world’s population that is still not connected, particularly in emerging markets,” said Nena Stoiljkovic, IFC vice president, Global Client Services, and judging panel co-chair. “Year after year the awards demonstrate that private sector innovation and capital can make a real difference while benefiting companies’ bottom line.”
Entries are being accepted until 15 March 2017. Entry forms and criteria are available at live.ft.com/transformationalbusiness. The winners in each category will be announced at a gala dinner inLondon on 8 June 2017.
The awards ceremony will be preceded by the fourth FT/IFC Transformational Business Conference, a major gathering of thought leaders who will explore and debate the issues generated by the awards.
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For further information, please contact:
Sin Yee Hon, FT: email@example.com
Nadezda Nikiforova, IFC: firstname.lastname@example.org
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IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org