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Arcelik

OVERALL

Owned
TUR
Rating
Praises, some criticism

Consumer electronics, household appliances

Established in 1955 by Vehbi Koc. It has 15 production facilities in 6 countries, supplying its 10 brands to 130 countries. Brands include Beko and Grundig.

Company Ownership

Arcelik AS   TUR     website   email      
  Koc Holding AS   
   owns 100% of Arcelik AS  
TUR     website   email   facebook   twitter

Investment holding company

Founded 1926 and controlled by the Koc family, it is the largest industrial and services group in Turkey by revenue, exports, employees and market capitalisation. Sectors include energy, automotive, consumer durables and finance.

> About the Ratings

Company Assessment

PRAISE CRITICISM INFORMATION
Arcelik AS
Environment CDP Climate Change Score of A-
In 2022, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change Score of A-.
Source: CDP (2022)
Social CDP Water Security Score of A
In 2022, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to manage and govern freshwater resources. Responding companies are scored on six key metrics: transparency; governance & strategy; measuring & monitoring; risk assessment; targets & goals; and value chain engagement. This company received a CDP Water Security Score of A.
Source: CDP (2022)
Business Ethics 87/100 S&P Global ESG Score
This company received an S&P Global ESG Score of 87/100 in the Household Durables category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 21 Oct 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2022)
Business Ethics Global 100
The 2022 Global 100 Most Sustainable Corporations in the World list is based on a rigorous assessment of nearly 7,000 public companies with revenue over US$1 billion. All companies are scored on environmental, social, governance and economic metrics relative to their peers, with 50% of the weight assigned to Clean Revenue and Clean Investment. This company ranked #57 in the Global 100, with an overall score of C+.
Source: Corporate Knights (2022)
Social D+ grade at Behind the Barcode
D+ grade in the Baptist World Aid Australia's Behind the Barcode 'Ethical Electronics Guide 2016', which grades companies on their efforts to mitigate the risks of forced labour, child labour and worker exploitation throughout their supply chains. Assessment criteria fall into four main categories: policies, traceability & transparency, monitoring & training and worker rights.
Source: Baptist World Aid Australia (2016)
Social Dangerous appliances
This company has been accused of making household appliances responsible for at least 11 fatalities in Europe by fires and carbon monoxide poisoning. The company was warned by the London Fire Brigade in June 2010 that some of its fridge freezers were 'a potential threat to life' after series of fires. However, they allegedly failed to issue a swift public alert resulting in at least one man dying after a fire 5 months later.
Source: news article (2013)
Environment Climate action commitments
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: responsible corporate engagement in climate policy, adopt a science-based emissions reduction target, commit to smart energy use.
Source: We Mean Business (2021)
Business Ethics ESAP signatory
This company is a signatory to WRAP's Electrical and Electronic Equipment Action Plan (esap). Signatories take collective action to reduce their environmental impact and sign up to contribute to the development and implementation of esap.
Source: WRAP (2017)
Koc Holding AS
Business Ethics 15.5% in Newsweek Green Ranking 2017
This company received a score of 15.5/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek (2017)
Business Ethics Tax and related fines
Tupras, Turkey's sole oil refiner and subsidiary of Koc Holdings, has agreed to pay 55 million lira (US$22 million) after negotiating down with authorities a much higher tax demand and fines reported in a filing to the stock exchange. Turpras had faced a total payment of 160 million lira, including a tax demand for 65.6 million lira and fines of 94.4 million lira, for between 2009 and 2013. After negotiation with the Central Reconcilement Commission an agreement was reached including interest expenses in lieu of the previous demands.
Source: news article (2015)
Business Ethics Tax fines
In 2013 Tofas, the car making arm of this company, was ordered to pay 67.5 million lira (US$33.3 million) in taxes and fines for 2008-2010. The fine came after the banking arm of this company, Yapi Kredi, was ordered by the Turkish tax authorities to pay penalties totaling TL 103.2 million (US$50.61 million).
Source: news article (2013)
Business Ethics Abusing market position in Turkey
In 2014 Turkey's competition regulator fined Koc Holdings subsidiary Tupras, the country's sole oil refiner, 412 million lira (US$186 million) for abusing its dominant market position in pricing and contracts.
Source: news article (2014)
Business Ethics Vehbi Koc Foundation
Founded in 1969 by Vehbi Koc and one of Turkeys first charitable foundations, the Foundation started to carry out extensive activities in the field of education, health and culture. The Foundation aims to contribute to the rapid development of Turkey.
Source: company website (2016)
Business Ethics CSR claims
This company has extensive corporate social responsibility claims on its website including CSR Reports, social development, environmentally friendly practices, and social responsibility projects.
Source: company website (2016)
Business Ethics 50/100 S&P Global ESG Score
This company received an S&P Global ESG Score of 50/100 in the Industrial Conglomerates category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 18 Nov 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2022)

> About the Icons

Company Details

Type Public company
Employees 27,000 (2015)
Subsidiaries Beko A and NZ Pty Ltd 

Household appliances

Sales and service of household appliances.

Contact Details

Address Istanbul, Turkey
Email corporateinfo@arcelik.com
Website www.arcelikas.com

Products / Brands

Beko Australia
Beko Air Conditioners
Beko Dishwashers
Beko Fridges & Freezers
Beko Microwaves
Beko Ovens & Cooktops
Beko Washing Machines & Dryers
Beko Coffee Machines
Beko Vacuum Cleaners


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