Company first in independent rankings of environmental and financial reporting HILLSBORO, Ore., Oct. 28, 2011
SolarWorld, the largest U.S. solar panel manufacturer, has been recognized by three independent rankings as the global renewable-energy industry's leader in sustainable corporate management, environmentally sound manufacturing and transparent financial reporting.
The 2011 annual report of the Carbon Disclosure Project (CDP) for Germany, released in Frankfurt in mid-October, positions SolarWorld as the "Sector Leader" among its renewable energy peers. The CDP is a cooperative endeavour by more than 551 institutional investors worldwide to improve corporate transparency on greenhouse gas emissions affecting the climate. To this end, participating companies voluntarily report their annual C02 emissions and their strategies and steps toward climate protection. SolarWorld was deemed to most fully disclose its data, placing the company at the top of the CDP's ranking.
"SolarWorld's commitment to sustainability and transparency is a key factor that differentiates us from our competitors," said Kevin Kilkelly, president of SolarWorld Americas. "As a company, we believe it is not valid to claim to sell a green product if your own business and manufacturing practices are not equally sustainable.
Sustainability – environmental, social and fiscal – is at the very core of who we are and what we do."
For the high quality of its financial reporting, SolarWorld also received accolades in this year's "Best Annual Reports" competition by Manager Magazine. With its integrated financial and sustainability reporting, which includes environmental and social key performance indicators, SolarWorld outpaced all other companies in the renewable-energy sector. In the overall ranking, the group occupied 10th place among the 160 most important companies listed on four European stock indexes: the DAX, MDAX, SDAX and TecDAX.
Earlier this year, the Silicon Valley Toxics Coalition (SVTC), a watchdog group that has monitored the sustainability of the computer and solar industries, ranked SolarWorld first among world solar producers on a range of issues pivoting on sustainable performance. Among factors was the company's voluntary compliance with reporting regimens encompassing a company's entire impact, one of which is the U.N.-backed Global Reporting Initiative.