The Financial Times and IFC, a member of the World Bank Group, have launched the third edition of the FT/IFC Transformational Business Awards, the unique global programme that highlights ground-breaking, long-term private sector solutions to key development issues.

Special attention for 2016 is being given to products and services that address major challenges around climate change, particularly in rapidly growing urban areas, with an emphasis on the capital, technology and innovation required for substantive progress.

Besides the focus on climate change, which builds on the interest generated by the Paris Climate Conference, the Awards include both a restructured technology category and a new category designed to highlight issues contained in the UN Sustainable Development Goals. Each year, this Achievement in Sustainable Development category will focus on a different SDG or target. For 2016, the focus will be on health, one of the most important SDGs.