DURBAN, South Africa, Dec. 7, 2011 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, received the 2011 Gigaton Prize for its pioneering role in reducing carbon emissions around the world, and leading efforts in the fight against climate change.
The Gigaton Prize is awarded annually to a company that has demonstrably reduced emissions by the largest absolute amount on an annual basis. This year, the Gigaton Prize was awarded at a ceremony in Durban, South Africa, as world leaders, policy makers, celebrities and Fortune 500 executives convene for the 17th session of the Conference of the Parties (COP17) to the United Nations Framework Convention on Climate Change.
"Suntech is honored to receive the prestigious Gigaton Prize, especially as world leaders are congregating for COP17 to discuss global initiatives around sustainability. The award reaffirms our commitment to the environment, and serves as an inspiration to other companies around the world to join us in our effort to build a sustainable future," Suntech's founder and CEO, Dr. Zhengrong Shi said.
The Gigaton Prize, jointly awarded by the Carbon War Room, The Gigaton Throwdown and the World Climate Summit, is the top honor among all the Gigaton Awards, which recognizes companies for outstanding leadership in carbon mitigation in the consumer goods, industrials, telecommunications and utilities industries as defined by measurable steps toward reductions.
"Suntech has done more than any other company in the renewables space and are therefore helping to reduce the impact of carbon emissions on the environment," said Jigar Shah, CEO, Carbon War Room. "This award recognizes Suntech's pioneering spirit and commitment to a new energy future."
The Gigaton Prize was awarded in part due to Suntech's pioneering work in the solar industry over the last 10 years. Suntech's customers and partners have installed more than five gigawatts of Suntech solar panels around the world, and in October 2011, it became the first solar panel maker in the world to achieve the coveted milestone. In addition to the on-grid work by Suntech's customers, Suntech's solar panels have provided an estimated 1 million people around the world, primarily in off-grid regions, with reliable access to basic electricity. Suntech aims to provide 20 million people with access to basic electricity by 2020.
To learn more about Suntech's sustainability efforts, please download the Sustainability Report 2010 here.
Suntech Power Holdings Co., Ltd. (NYSE: STP) produces industry-leading solar products for residential, commercial, industrial, and utility applications. With regional headquarters in China, Switzerland, and the United States, and gigawatt-scale manufacturing worldwide, Suntech has delivered more than 20,000,000 photovoltaic panels to over a thousand customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide everyone with reliable access to nature's cleanest and most abundant energy source.
For more information about Suntech's people and products visit: http://www.suntech-power.com
About the Carbon War Room
The Carbon War Room harnesses the power of entrepreneurs to unlock gigaton-scale, market-driven solutions to climate change. Over 50% of the climate change challenge can be addressed today -- and profitably --under existing policy and technology conditions. We seek to facilitate a better flow of capital to entrepreneurial solutions that make economic sense right now.
For more information, visit: www.carbonwarroom.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements, and includes statements relating to providing 20 million people with access to basic electricity by 2020. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
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SOURCE Suntech Power Holdings Co., Ltd.