Beko Secures €100 Million Sustainability-Linked Loan from IFC to Drive Innovation and Transformation
In a significant move towards sustainability, Beko has successfully secured a €100 million loan linked to sustainability from the International Finance Corporation (IFC), part of the World Bank Group. This loan is pivotal for Beko as it marks their first finance agreement aimed specifically at sustainable practices, emphasizing the company's commitment to integrating eco-friendly initiatives throughout its operations and product lines. The funds will primarily be used to enhance Beko's renewable energy capabilities, bolster earthquake resilience in its production facilities, and support the development of innovative, eco-efficient appliances.
The renewable energy focus is especially crucial, as the loan will help maintain operations at two of Beko's solar energy plants. These facilities are essential in transitioning to greener energy sources and ensuring that Beko’s production processes align with environmental sustainability goals. Additionally, the loan will aid in fortifying six manufacturing plants against seismic events, a reflection of Beko's proactive approach to risk management in regions prone to natural disasters.
Barış Alparslan, Beko's Chief Financial Officer, expressed enthusiasm over this development, stating that it represents a critical step towards achieving a future with zero net emissions. By investing in renewable energy, enhancing resilience, and advancing research and development (R&D) for smarter, resource-efficient appliances, Beko seeks to meet global sustainability expectations while continuing to deliver value to its customers and communities worldwide.
This five-year financing agreement is structured around Beko’s Sustainability-Linked Financing Framework. It incorporates robust targets aimed at reducing greenhouse gas emissions and increasing gender diversity within the workforce by 2030, aligning with IFC's commitment to fostering inclusive and climate-resilient growth. Ashruf Megahed, IFC's regional director for manufacturing and agro-industry in the Middle East and Central Asia, highlighted the significance of investing in Beko, underscoring the need for resilient infrastructure and R&D to secure long-term competitiveness and sustainability in the manufacturing sector.
Beko, an international leader in the home appliance market, operates in over 55 countries and employs more than 50,000 people. The company has a notable annual turnover of €10.6 billion as of 2024 and has established itself as the largest producer of white goods in Europe by market share. With 28 R&D centers across the globe, employing over 2,300 researchers, Beko holds more than 4,500 international patent applications to its name.
Beko's achievements in sustainability have not gone unnoticed; it has consistently excelled in the Corporate Sustainability Assessment (CSA) within the high-efficiency appliance sector, the seventh year in a row, and has been recognized in the Dow Jones Sustainability Index for eight consecutive years. Recently ranked the 17th most sustainable company by TIME magazine and Statista, Beko’s vision is clear: to respect the world and be respected in return.
The partnership with IFC paves the way for Beko to enhance its innovative products while ensuring environmental accountability, ultimately contributing to a healthier planet. This collaboration exemplifies Beko's commitment to global standards of sustainability through technology and responsible manufacturing practices, setting a precedent for others in the industry to follow.
The renewable energy focus is especially crucial, as the loan will help maintain operations at two of Beko's solar energy plants. These facilities are essential in transitioning to greener energy sources and ensuring that Beko’s production processes align with environmental sustainability goals. Additionally, the loan will aid in fortifying six manufacturing plants against seismic events, a reflection of Beko's proactive approach to risk management in regions prone to natural disasters.
Barış Alparslan, Beko's Chief Financial Officer, expressed enthusiasm over this development, stating that it represents a critical step towards achieving a future with zero net emissions. By investing in renewable energy, enhancing resilience, and advancing research and development (R&D) for smarter, resource-efficient appliances, Beko seeks to meet global sustainability expectations while continuing to deliver value to its customers and communities worldwide.
This five-year financing agreement is structured around Beko’s Sustainability-Linked Financing Framework. It incorporates robust targets aimed at reducing greenhouse gas emissions and increasing gender diversity within the workforce by 2030, aligning with IFC's commitment to fostering inclusive and climate-resilient growth. Ashruf Megahed, IFC's regional director for manufacturing and agro-industry in the Middle East and Central Asia, highlighted the significance of investing in Beko, underscoring the need for resilient infrastructure and R&D to secure long-term competitiveness and sustainability in the manufacturing sector.
Beko, an international leader in the home appliance market, operates in over 55 countries and employs more than 50,000 people. The company has a notable annual turnover of €10.6 billion as of 2024 and has established itself as the largest producer of white goods in Europe by market share. With 28 R&D centers across the globe, employing over 2,300 researchers, Beko holds more than 4,500 international patent applications to its name.
Beko's achievements in sustainability have not gone unnoticed; it has consistently excelled in the Corporate Sustainability Assessment (CSA) within the high-efficiency appliance sector, the seventh year in a row, and has been recognized in the Dow Jones Sustainability Index for eight consecutive years. Recently ranked the 17th most sustainable company by TIME magazine and Statista, Beko’s vision is clear: to respect the world and be respected in return.
The partnership with IFC paves the way for Beko to enhance its innovative products while ensuring environmental accountability, ultimately contributing to a healthier planet. This collaboration exemplifies Beko's commitment to global standards of sustainability through technology and responsible manufacturing practices, setting a precedent for others in the industry to follow.
Topics Consumer Products & Retail）
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