WUXI, CHINA: Suntech Power Holdings Co. Ltd, the world's largest producer of solar panels, was recognized by the World Economic Forum as a New Sustainability Champion in its recent report entitled 'Redefining the Future Growth: The New Sustainability Champions'. Suntech was the only solar company to be named New Sustainability Champion, underscoring its commitment and achievement to continually lead the renewable energy industry in terms of sustainability and innovation.
"Suntech is honored to be recognized as a New Sustainability Champion by the World Economic Forum," said Dr. Zhengrong Shi, Suntech's founder and CEO. "As we celebrate our 10th anniversary this year, this recognition reaffirms Suntech's vision to be a sustainable, responsible company delivering energy choices for tomorrow. In the next ten years, Suntech will perpetually make strategic investments to accelerate humanity's transition towards a more sustainable and responsible way of living."
The report, prepared with The Boston Consulting Group (BCG), takes into account criteria covering sustainability, innovation, scalability, geography and company size. Additionally, the World Economic Forum and BCG analyzed over 1,000 businesses around the world and identified 16 fast-growth companies, including Suntech, who demonstrated ability in tackling challenges of performance, innovation, sustainability and growth.
"Suntech stands out as a New Sustainability Champion, a company fully committed to business excellence and the improvement of society," said Jerry Yu, director, Center for Global Growth Companies, World Economic Forum. "Together with World Economic Forum, we are confident that Suntech will continually inspire and lead the next generation of companies around the world to be more sustainable, innovative, and environmentally responsible."
Suntech recently launched the first global edition of its Sustainability Report 2010, which showcases the company's successes and opportunities with sustainable business initiatives. Known for its technology leadership, all of Suntech's R&D programs have a clear goal - reduce the cost of harnessing solar energy and increase the performance of solar cells and panels to ultimately make solar affordable for everyone, everywhere. However, Suntech's commitment to sustainability goes beyond its products.
The company works closely with industry partners around the world to take responsibility for the complete environmental lifecycle of its products and operations. In January 2011, Suntech was also awarded the "Global Leader Award 2011" from Murphy&Spitz recognizing Suntech's exceptional EH&S practices.