Arçelik showcases climate action commitments at UN General Assembly with ambitious sustainable development goals

ISTANBUL, Sept. 25, 2023 /PRNewswire/ -- Arçelik, a global leader in home appliances, reaffirmed its commitment to advancing sustainable development and climate action at the United Nations General Assembly (UNGA) last week, where government and business leaders convened to pledge investments and actions to drive progress across the Sustainable Development Goals (SDGs) by 2030.

Arçelik CFO Özkan Çimen

The company has become an early mover of the newly launched UN Global Compact initiative, Forward Faster, which challenges businesses to elevate their ambitions in five strategic areas: living wage, gender equality, climate action, water action, and sustainable finance. Alongside the UNGC Leaders Summit where the Forward Faster initiative was presented, Arçelik Chief Commercial Officer Ragıp Balcıoğlu has attended various events at Climate Week 2023, engaging with the United Nations officials, business leaders and civil society in crucial discussions on immediate climate action.

As a member of the CFO Coalition for the SDGs, Arçelik's Chief Financial Officer Özkan Çimen has been working with the Coalition to create an impactful case study series titled "Corporate Investments and Financing to Support Ambitious Climate Action," launched in collaboration with the Science-Based Target initiative (SBTi). Çimen delivered a keynote at the SDG Investment Forum on 21^st September, unveiling one of the series of case studies and showcasing how direct, real economy investments in critical areas of sustainable development can unlock scalable private sector contributions to the SDGs, supporting key priorities on the UN Secretary-General's agenda.

Private Sector Forum & Forward Faster Launch

The UN Private Sector Forum held this year centred on collaborative efforts between the private sector and other stakeholders to accelerate the realization of the 2030 Agenda for Sustainable Development. The event showcased the transformative potential of direct, real economy investments in critical areas of sustainable development, unlocking scalable private sector contributions to the Sustainable Development Goals (SDGs).

Launching during the Forum is the Forward Faster Initiative which Arçelik has expressed its commitment to. The initiative will recognize companies committed to ambitious targets that align with the ambition of the 2030 Agenda. These companies will showcase tangible actions for achieving these targets and the partnerships that will facilitate collective goal attainment.

As part of the Forward Faster initiative, Arçelik commits to:

1. Contribute to a Just Transition by taking concrete actions that address the social impacts of climate change mitigation and adaptation measures, in collaboration with workers, unions, communities, and suppliers.
2. Set corporate science-based net-zero emissions targets in line with a 1.5°C pathway, with the objective of halving global emissions by 2030 and achieving net-zero emissions by 2050 at the latest.
3. Water Resilience: Build water resilience across global operations and supply chains, collaborating to achieve a positive water impact in at least 100 vulnerable and prioritized water basins by 2030.
4. Align corporate investments to the fullest extent possible with SDG policies and strategies, setting targets, tracking, and reporting on the amount and proportion of such SDG investments.
5. Establish a corporate financing strategy linked to SDG investments and performance, reporting on the amount and proportion of such SDG finance.

Arçelik remains steadfast to playing its part in advancing sustainable development and combatting climate change. The company believes that through collaborative efforts, ambitious targets, and responsible investments, the private sector can make a meaningful difference in achieving the global goals for a better future.

For more information about Arçelik's commitment and initiatives, please visit here.

ABOUT ARÇELİK

With over 40,000 employees throughout the world, Arçelik's global operations include subsidiaries in 53 countries, and 31 production facilities in 9 countries and 14 brands owned or used with a limited license (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko, Singer*, Hitachi*). Arçelik's 30 R&D and Design Centers & Offices across the globe are home to over 2,300 researchers and hold up to 3,000 international registered patent applications to date. For the 4th consecutive year, Arçelik achieved the highest score in the DHP Household Durables industry (based on the results dated 16 December 2022) in the Dow Jones Sustainability Index of the S&P Global Corporate Sustainability Assessment. Arçelik's vision is "Respecting the World, Respected Worldwide."

* Licensee limited to certain jurisdictions.

Arçelik CCO Ragıp Balcıoğlu