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At Arçelik, we prioritize the integration of economic, social, and environmental aspects of sustainability into our governance framework, ensuring accountability to all stakeholders.
Our customer-centric approach enables us to expand our sales reach, thereby bolstering revenues. Through strategic investments and growth-oriented initiatives, we deliver economic advantages to our business partners and investors, concurrently fostering the creation of sustainable value from these economic gains.
Please find how much environmental investment and expenditure we make each year under ‘Environmental Investments and Expenditures’ heading in our Sustainability Reports.
The EU Taxonomy Reporting
The EU Taxonomy Regulation and the Delegated Acts are a classification system to identify which of their economic activities, or the economic activities they invest in, can be deemed ‘environmentally sustainable’. It is now legally in force within the European Union. According to reporting obligations and timelines, the regulation of Arçelik, which is not an EU-based company, is currently not within the scope of the Taxonomy regulation for this financial year. However, Arçelik has voluntarily published the EU Taxonomy Report as of 2022.
Please find our Taxonomy Reporting in our Sustainability Reports.
Sustainable Financial Instruments
Our sustainable economic growth approach helps us to reinforce Arçelik’s ESG credentials and enables us to further strengthen our sustainability agenda.
1. Green Bond
We issued green bonds with a nominal value of EUR 350 million and a five-year maturity in 2021. The bond attracted a high level of demand from investors – being almost five times oversubscribed. More than 145 investors have invested in the bond, the coupon rate of which was determined as 3.00%. As of December 31, 2023, Arçelik had allocated all EUR 350 million of its Green Bond net proceeds to Eligible Green Projects including energy-efficient, eco-efficient, and circular economy-adapted products and the promotion of energy efficiency in production. Thus, the proceeds will support the company’s investments in energy and water efficient products, energy efficiency in production, sustainable water and wastewater management, pollution control and prevention, renewable energy, and green building initiatives
For further information, please refer to our Green Financing Framework.
For further information, please refer to our Arçelik’s Green Bond Allocation and Impact Reports.
2. Green Loan
We have signed an eight-year loan agreement for EUR 150 million with the European Bank of Reconstruction and Development (EBRD), one of the most important green finance providers in 2021. The first EUR 83 million loan is structured according to the Green Loan Principles of the Loan Market Association (LMA). We plan to implement projects to achieve net-zero emissions in the value chain by 2050 through financing environmental Sustainability and R&D projects within the framework of the green loan.
3. Sustainable Deposit
Arçelik entered into a sustainable deposit transaction with Akbank worth TRY 30 million with a maturity of 90 days in 2023. With this financial transaction, Arçelik will be able to support projects that have a positive environmental and social impact, from renewable energy, clean transportation, circular economy, empowerment of women-owned/managed SMEs, SMEs’ access to finance, to earthquake zone financing
4. Sustainability-Linked Financing Framework
Arçelik's Sustainability-Linked Financing Framework launched in April 2024 is based on its sustainability agenda and goals. The framework includes the Company's 2030 goals for GHG emissions reductions for scope 1&2 and scope 3 from use of sold products, and increase the percentage of women in the total workforce. It has been also developed in line with the Sustainability-Linked Bond Principles (SLBP) issued by the International Capital Market Association (ICMA) in June 2023 and the Sustainability-Linked Loan Principles (SLLP) issued by the Loan Market Association (LMA) in February 2023.
For further information, please refer to Sustainability-Linked Financing Framework.
Sustainable Financing