Arçelik joins the UN Global Compact CFO Taskforce to align finance and sustainability for real world change
Sep 22, 2021, 06:17 ET
ISTANBUL, Sept. 22, 2021 /PRNewswire/ -- Arçelik A.Ş. (IST: ARCLK) ("Arçelik"), the global leading consumer durables and electronics manufacturer, has announced that Polat Şen, the Chief Financial Officer (CFO) of Arçelik has joined the UN Global Compact CFO Taskforce. With 60 members across 23 industries and five regions, the CFO Taskforce aligns UN's Sustainable Development Goals (SDGs), the corporate sustainability commitments to credible finance strategies with the intention of producing real world impact through long-term sustainable change.
The CFO Taskforce has a collective market cap of 1.7 trillion and grants the CFOs a unique position to reshape the future of global corporate finance and investment for growth, social impact and ultimately SDGs investment. Coming together at the UN's General Assembly week commencing the 21st September, financial leaders from all around the world, will discuss and develop action plans to solve today's environmental and social challenges. As one of the members of the task force, Arçelik has made great strides in its sustainability journey, instigating long-term positive change and contributing to the SDGs.
This announcement follows Arçelik's Green Bond issuance in May 2021, where the business launched the first of its kind, from a Turkish industrial company in the international market. Using the bond, included in Arçelik's Green Financing Framework, the company is financing its Eligible Green Projects that include energy-efficient, eco-efficient and circular economy adapted products and the promotion of energy efficiency in production. The Green bond is also funding the company's sustainable water resources and wastewater management, pollution prevention control, renewable energy, and green buildings initiatives. This further demonstrates Arçelik's commitment to sustainability and leadership in the industry for such an initiative.
Polat Şen, CFO, Arçelik said:
"It's a great honour to join the UN Global Compact CFO Taskforce. At Arçelik, we see sustainability as a business strategy that needs to be incorporated into the heart and mind of business and this initiative looks to achieve that. Joining fellow CFO's intent on making positive change, I believe it will be a great opportunity to learn from and collaborate with business leaders. From financial frameworks to investment decisions, we can be a catalyst for positive change and investment."
With over 40,000 employees throughout the world, Arçelik's global operations include sales and marketing offices in 48 countries, and 28 production facilities in 9 countries and 12 brands (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko). As Europe's second largest white goods company by market share (based on volumes), Arçelik's consolidated revenue reached US$4.3 Billion in 2020. Arçelik's 30 R&D and Design Centers across the globe, are home to over 1,700 researchers and hold more than 3,000 international patent applications to date. Arçelik is named the "Industry Leader" in the Durable Home Appliances category for the 2nd year in a row in Dow Jones Sustainability Index 2020 and, in accordance with PAS 2060 Carbon Neutrality Standard, became carbon-neutral in global production plants in 2019 and 2020 fiscal years with its own carbon credits. Arçelik's mission is 'Respecting the World, Respected Worldwide.'
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