Bangalore, May 15 (IANS): Indian Space Research Organisation’s (ISRO) commercial arm Antrix Corporation bagged the Globe Sustainability Research Award 2010, set up by Stockholm-based Global Forum, for fostering sustainable development, the agency said Friday.

"The prestigious award has been conferred on Antrix for its contribution to improve sustainable livelihood of the rural poor while reducing their vulnerability to climate risks," the state-run ISRO said in a statement here.

Antrix demonstrated the use of space technology and information technology (IT) solutions in reaching out the rural poor in five districts of Karnataka through the Sujala watershed programme during 2002-09.

"Antrix deserved the international award for using space technology innovatively for watershed development in India, yielding significant economic, social environmental benefits," Global Forum jury chairman Mohan Munashinghe said after presenting the award to ISRO chairman K. Radhakrishnan here Friday.

Munashinghe is the winner of Nobel Peace Prize 2007 and vice-chairman of the United Nations inter-governmental panel on climate change (IPCC).