Beko achieves 44th place on TIME's inaugural list of the world's most sustainable companies

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Jul 02, 2024, 06:56 ET

Ranked among the top 500 global companies leading the way in sustainability.
Recognized for its commitment to eco-friendly practices and net-zero goals.
Highest-ranking home appliance company on the list.

ISTANBUL, July 2, 2024 /PRNewswire/ -- Global household appliance manufacturer Beko has been recognized for its commitment to sustainability, securing the 44^th spot on TIME Magazine and Statista's first-ever list of the World's Most Sustainable Companies. This ranking highlights Beko's dedication to eco-friendly practices and positions it as a leader in sustainable manufacturing.

Beko earned a score of 75.68 out of 100, placing fourth among all companies in the "manufacturing and industrial production" sectors. It is also noteworthy as the highest-ranking home appliance company.

"Our ranking is a testament to the passionate commitment of our entire team," said Hakan Bulgurlu, CEO of Beko. "At Beko, we firmly believe that a sustainable future begins at home, with each and every one of us. This recognition from TIME and Statista fuels our drive to innovate and redefine what's possible in our industry. We are committed to developing products that not only make daily life easier but also contribute to a healthier planet for current and future generations."

The TIME and Statista ranking assessed over 5,000 global companies using a comprehensive four-step methodology:

Exclusion of non-sustainable businesses: Companies operating in environmentally damaging industries or facing significant sustainability controversies were excluded.
Commitment and ratings: Companies were evaluated based on their participation in recognized sustainability initiatives like the Science Based Targets initiative and their performance in assessments such as CDP ratings.
Reporting and transparency: The availability, quality, and adherence to international standards of companies' sustainability reports were reviewed.
Environmental and social stewardship: Key performance indicators related to environmental impact (emissions, energy use, renewable energy adoption) and social responsibility (gender diversity, employee safety, etc.) were analyzed.

Beko's commitment to sustainability is detailed in its recently published 2023 Sustainability Report, themed "Feels Like Home." This 16^th annual report outlines the company's progress towards its ambitious goal of becoming a net-zero business by 2050.

The report highlights key achievements including:

Reduced environmental impact: Beko achieved a 64 percent renewable energy usage rate in its manufacturing operations, saved and recycled 288,973 cubic metres of water, and prevented 6,983 tonnes of CO₂ equivalent emission through energy efficiency projects. The company has also recycled 1.75 million units of electronic waste since 2014.
Earnings from products with lower environmental footprint: Energy-efficient products accounted for 50.2 percent of Beko's 2023 turnover, while low-carbon products represented 62.4 percent.
Social responsibility: Beko demonstrated its commitment to gender diversity and inclusion through initiatives like the "Her Business Her Power" project, which supported 108 female dealers, and the "500 Women Technicians Project," which empowered 644 female technicians in 2023.

Beko's recognition by TIME and Statista is a significant milestone that celebrates the company's achievements and reinforces its commitment to driving sustainable change. As Beko continues to innovate and lead in sustainability, it sets a powerful example for the industry and inspires a collective effort towards a greener, more sustainable world.

ABOUT BEKO

Beko has 55,000 employees throughout the world with its global operations through its subsidiaries in 58 countries and 45 production facilities in 13 countries (i.e. Türkiye, UK, Italy, Romania, Slovakia, Poland, South Africa, Russia, Pakistan, India, Bangladesh, Thailand and China). Beko has 22 brands owned or used with a limited license (Arçelik, Beko, Whirlpool*, Grundig, Hotpoint, Arctic, Ariston*, Leisure, Indesit, Blomberg, Defy, Dawlance, Hitachi*, Voltas Beko, Singer*, ElektraBregenz, Flavel, Bauknecht, Privileg, Altus, Ignis, Polar). Beko became the largest white goods company in Europe with its market share (based on volumes) and reached a consolidated turnover of 8 billion Euros in 2023. Beko's 31 R&D and Design Centers & Offices across the globe are home to over 2,300 researchers and hold more than 3,100 international registered patent applications to date. For the 5th consecutive year, the highest score in the DHP Household Durables industry (based on the results dated 27 October 2023) in the Dow Jones Sustainability Index of the S&P Global Corporate Sustainability Assessment was achieved.** Beko's vision is 'Respecting the World, Respected Worldwide.'