Beko Secures Science Based Targets initiative (SBTi) Validation for 1.5°C Aligned Near-Term and Net-Zero Targets

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Nov 25, 2024, 03:00 ET

Beko's 1.5°C aligned near-term and net-zero targets are approved by Science Based Targets initiative (SBTi)*
With 99% of emissions coming from Scope 3, Beko prioritizes resource-efficient, smart and connected products
Beko commits to reach net-zero greenhouse gas emissions across the value chain by 2050

ISTANBUL, Nov. 25, 2024 /PRNewswire/ -- Beko, a global leader in home appliances, today announced that it has received validation from the Science Based Targets initiative (SBTi) for its near and long-term net-zero science-based targets. With the targets designed to deliver ambitious and measurable action on climate change across every industry sector, validation from the SBTi represents a significant environmental milestone for both Beko and the broader home appliance space.

Signed in 2016, the Paris Agreement on climate change aims to limit global warming to 1.5°C above pre-industrial levels. Established in 2015, the SBTi is having an impact on the speed at which Agreement commitments are being met. By setting out a clear path to reducing carbon emissions, SBTi companies with approved targets achieved emissions reductions which resulted in a total-emissions decrease of 29% between 2015 and 2020.

"Every industry has a responsibility to meet critical global emissions targets designed to ensure the sustainable future of our planet. While we are proud today to have been validated by the SBTi following the steps we have taken within the last fifteen years to embed our emission reduction targets into our entire business model, there is more work to be done," says Hakan Bulgurlu, CEO, Beko. "Achieving net-zero targets requires addressing emissions across Scopes 1, 2, and particularly Scope 3. Scope 3 emissions account for 99% of our total emissions. Since 82% of total Scope 3 emissions stem from use of sold products, energy efficient products must remain a key focus. This makes it essential for our products to be particularly energy-efficient, supporting a sustainable future at every level of the value chain."

Environmental sustainability has been central to Beko's business model, bringing to market innovations and initiatives designed to improve manufacturing processes, products, and packaging, in addition to materials sourcing and end-of-life stages. With its approved science-based targets, Beko commits to reach net-zero greenhouse gas emissions across the value chain by 2050. As near-term targets, the company aims to reduce its absolute Scope 1 and 2 emissions by 42% in 2030 compared to a 2022 base year, and Scope 3 emissions from use of sold products by 42% for the same time frame. For its long-term targets, Beko plans to cut its absolute Scope 1 and 2 emissions by 90%, and absolute Scope 3 emissions by 90% in 2050, also compared to a 2022 base year.

Mr Bulgurlu concludes, "These goals cannot be met in isolation, and it is clear our industry and the entire business world must collaborate with each other, with government bodies, scientists, academics and the entire value chain to meet the ambitious but critically important targets we've set for ourselves to make them a reality."

For more information on Beko's net-zero journey, please visit: https://www.bekocorporate.com/sustainability-report-2023/overview/

*Beko is listed in SBTi's dashboards under the name of Arçelik A.Ş. (Beko is the corporate brand name of Arçelik A.Ş.)

About Beko

Beko is an international home appliance company with 55,000 employees worldwide and global operations through its subsidiaries in 58 countries and 46 production facilities in 14 countries (i.e. Türkiye, UK, Italy, Romania, Slovakia, Poland, South Africa, Russia, Pakistan, India, Bangladesh, Thailand, China and Egypt). 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 3,500 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.' 