The Financial Times and IFC, a member of the World Bank Group, have launched the 2016 edition of the Transformational Business Awards. This is the third year of the major global programme that recognises ground-breaking, long-term private sector solutions to key development issues.
The programme is open to all financial and non-financial private sector organisations, with an emphasis on private sector-led public-private partnerships. In 2015, the awards attracted 191 entries from 167 organisations, involving projects in 140 countries.
The 2016 awards will reward innovation, impact, replicability, financial viability and sustainability on a transactional basis across the following categories:
Achievement in Low-Carbon Urban Transformation
Achievement in Transformational FinanceAchievement in Transformational Technology
Achievement in Sustainable Development, with a focus on the following:
Maternal and Infant Health
Special Category: Excellence in City-led Transformation
In light of the global climate talks in Paris, this year’s programme will pay special attention to products and services that address the challenges around climate change, especially in rapidly growing urban areas, with an emphasis on the capital, technology and innovation required for substantive progress.
The flagship Achievement in Transformational Finance category will acknowledge innovative financing structures, particularly those generated by institutional investors and other large owners of capital.
As well as the focus on climate change, the awards include a revamped technology category and a new category designed to highlight issues contained in the United Nations Sustainable Development Goals (SDG). Each year, this Achievement in Sustainable Development category will centre on different SDGs or targets. The focus in 2016 will be on sustainable agriculture, and maternal and infant health.
For the second year, a special Excellence in City-Led Transformation category, supported by Cities Alliance, will also commend achievements by municipal governments around the world.
John Thornhill, deputy editor of the Financial Times and co-chair of the Transformational Business Awards judging panel, said: “We are excited about how topical the 2016 awards are. As the world’s leaders meet in Paris to discuss the urgent need to address climate change, investors and innovators are rolling out new initiatives to boost renewable energy and protect against environmental degradation. We hope to highlight many of those projects. I am also delighted that we are giving focus to the UN SDGs and the role of the private sector in helping to eradicate extreme poverty by 2030.”
“If governments, private sector companies and civil society do not confront climate change now, an additional 100 million people will fall into poverty,” said Nena Stoiljkovic, IFC vice president, Global Client Services, and judging panel co-chair, citing a recent World Bank study. “The private sector has a critical role to play by increasing investments in climate-smart industries that benefit the bottom line and create game-changing and commercially sustainable solutions. We look forward to celebrating achievements in all of the award categories.”
Entries are being accepted until 15 March 2016. Entry forms and criteria are available at live.ft.com/transformationalbusiness. The winners in each category will be announced at a ceremonial dinner in London on 9 June 2016.
The awards gala will be preceded by the third 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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The Financial Times, one of the world’s leading business news organisations, is recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation of 750,000. Mobile is an increasingly important channel for the FT, driving almost half of total traffic.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org