Beko Receives Approval from Science-Based Targets Initiative

Foreks - Beko Receives SBTi Approval for Net Zero Target

Beko, a leader in the sustainability sector with its vision of “Respectful to the World, Respected in the World,” has received approval from the Science Based Targets initiative (SBTi), one of the world's most respected organizations in sustainability, for its near-term and net zero targets in line with a 1.5-degree scenario. The company is determined to continue its efforts to become a net zero company by 2050, committing to a 42% reduction in absolute Scope 1-2 and absolute Scope 3 greenhouse gas emissions from the product use phase by 2030 compared to the 2022 base year, and a 90% reduction by 2050.

Beko CEO Hakan Bulgurlu stated, "The approval we received from SBTi reinforces the accuracy of our sustainability efforts and the reliability of our science-based targets. Rapidly decarbonizing our industry is extremely important not only for our responsibility towards the planet and society but also for the future of our business. As Beko, we focus on reducing our carbon footprint across all our processes, especially in production and R&D, increasing energy efficiency, and enhancing our renewable energy capacity. In just 2023, we prevented 6,983 tons of CO2e emissions with 373 energy efficiency projects. Our goal is a net zero future."

As a leading company in the home technologies sector, Beko continues to receive recognition from international organizations for its sustainability efforts. With the goal of "Inspiring Sustainable Living in Every Home," the company designs all its operations sustainably, from product development to supply, sales, and after-sales. It has obtained SBTi approval for its near-term and net zero targets in line with a 1.5-degree scenario. By setting both near-term and long-term goals, the company leads its sector in combating the global climate crisis, further strengthening its long-term commitments to sustainability and proving its dedication to a net zero future.

The Science Based Targets initiative (SBTi), which guides companies in establishing greenhouse gas emission reduction targets compatible with the Paris Agreement's 1.5°C goal and validates these targets, aims to encourage the private sector to play an active role in combating climate change. Among Beko's near-term targets approved by SBTi is to reduce absolute Scope 1 and 2 greenhouse gas emissions and product use phase-related absolute Scope 3 emissions by 42% by 2030 compared to the 2022 base year. In line with the commitment to be net zero by 2050, the company aims to reduce absolute Scope 1-2 emissions and absolute Scope 3 emissions by 90% compared to the 2022 base year.

Hakan Bulgurlu emphasized the importance of rapidly decarbonizing the sector for the future of the business, stating, "We feel the effects of the climate crisis more intensely every day. The June-August period has been recorded as the hottest period since records began in 1940. Scientists indicate that the likelihood of 2024 being the hottest year on record is increasing. At this point, rapidly decarbonizing our sector is essential not only for our responsibility towards the planet and society but also for the future of our business. As Beko, we focus on reducing our carbon footprint in all our processes, especially in production and R&D, enhancing energy efficiency, and increasing our renewable energy capacity. We are increasing our efficiency by digitizing our factories according to Industry 4.0 standards, leading our sector with our energy-efficient products."

Beko CEO Hakan Bulgurlu added, "By the end of 2023, we have reduced our energy consumption per product in our production processes by 25.7% compared to the 2015 base year. In just 2023, we achieved approximately 95,680 GJ in energy savings with 373 energy efficiency projects, preventing the emission of 6,983 tons of CO2e as a result of our increased efficiency. We used 64% green electricity in all our production operations. Our goal is to use 100% green electricity in all our production facilities by 2030 and to increase our waste recycling rate to 99%. We emphasize the importance of our stakeholders aligning with us in our goal to reduce our impact on the planet. We aim to increase our suppliers' use of green electricity to 100% by 2030. Our ultimate goal is a net zero future. The approval we received from SBTi reinforces the accuracy of our sustainability efforts and the reliability of our science-based targets."

Achieving Over 90 MWp of Renewable Energy Capacity

Beko, which has received the highest score in its sector on the S&P Dow Jones Sustainability Index for five consecutive years, aims to advance its target of reaching 50 MW of renewable energy capacity by 2030. By the end of 2023, Beko's renewable energy capacity is expected to reach 20.3 MWp, which will increase to 90 MWp by the end of 2024. With the renewable energy capacity it will achieve by the end of the year, the company aims to generate 138 million kWh of electricity annually while preventing 57,000 tons of CO2e emissions. The company utilizes high-quality solar panels produced in its fully operational facilities supported by artificial intelligence for its solar power plant investments. These facilities, which produce PV modules, have an annual production capacity of approximately 1 million solar panels valued at 600 MW.