SALT LAKE CITY, Feb. 14, 2012 /PRNewswire/ -- Overstock.com, Inc. (NASDAQ: OSTK) today announced that the company has been awarded the For People and Planet recognition in the retail category. The Carbonfund.org Foundation presented the award.
Overstock.com was chosen for this award because of its carbon-neutral shipping partnership with Carbonfund.org for its Worldstock Fair Trade initiative. Every purchase made from Worldstock Fair Trade inventory ships carbon neutral, at no extra cost to its customers.
"Overstock.com is committed to finding sustainable ways to clean the air and lessen our carbon footprint," said Jonathan Johnson, president of Overstock.com. "By partnering with Carbonfund.org, Overstock.com is able to offset the environmental impact of shipping our Worldstock products."
"Overstock.com is proving that being a great corporate citizen and doing what's good for the planet is also good for business," said Eric Carlson, president of the Carbonfund.org Foundation. "We applaud Overstock.com's efforts to bring carbon neutral solutions to its customers."
Founded in 2001, Worldstock Fair Trade is Overstock.com's socially responsible department where customers can find artisan and handcrafted products emphasizing sustainability from over 60 developing nations. Products are chosen with an emphasis on environmental sustainability, using fewer natural resources in their production. Overstock.com returns a large share of the sale proceeds to these artisans and donates all net profits from Worldstock Fair Trade to fund philanthropic projects in several countries. These funds have built schools, orphanages and clinics, helped to support clean water projects for orphans at Malawi Children's Village orphanage, as well as to construct small scale composting sanitation units and shower facilities in other impoverished areas.
About the Carbonfund.org Foundation
Carbonfund.org is the leading nonprofit carbon reduction and climate solutions organization, making it easy and affordable for individuals, businesses and organizations to reduce their climate impact by supporting third-party validated renewable energy, energy efficiency and forestry projects. Carbonfund.org has more than 600,000 individual supporters and has worked with over 2,000 business and nonprofit partners. For more information, visit www.carbonfund.org.
Overstock.com is a technology-based retail company offering customers a wide variety of high-quality products, at great value, with superior customer service. The company provides its customers with the opportunity to shop for bargains by offering suppliers an alternative inventory distribution channel. Headquartered in Salt Lake City, Overstock.com is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com and http://www.o.co. Overstock.com regularly posts information about the company and other related matters on its website under the heading "Investor Relations."
Overstock.com®, O.co®, Worldstock Fair Trade® and Club O Rewards® are registered trademarks of Overstock.com, Inc. Club O (TM), and Club O Rewards Dollars (TM) and Your Savings Engine(TM) are trademarks of Overstock.com, Inc. All other trademarks are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding lessening the company's footprint and the criteria for Worldstock Fair Trade product selection. Our Form 10-K for the year ended December 31, 2010, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
SOURCE Overstock.com, Inc.