Arçelik Pushes for More Ambitious GHG Emissions Reduction Targets at COP26

Arçelik's initial targets in line with a well-below 2C degree scenario were approved by the Science Based Targets initiative (SBTi) in November 2020, however, Arçelik has chosen to be bolder submitting a 1.5C degree target in August 2021, which is being reviewed by the SBTi for final approval.

This coupled with the decision to introduce a net-zero target throughout the value chain by 2050, which will serve to limit the global temperature increase to 1.5°C above pre-industrial levels, highlights Arçelik's ever-growing commitment to a sustainable future and the company's pledge to the Paris Agreement.

Analysis from the International Energy Agency (IEA) states that bold actions need to be taken to achieve global net-zero targets. Too often overlooked, energy efficiency offers high-impact emission savings at low marginal abatement costs.

If the world is to have any chance of meeting net-zero goals, energy efficiency needs to be prioritized.

This comes in tandem, with Hakan Bulgurlu, CEO of Arçelik joining The World Economic Forum Alliance of CEO Climate Leaders. A group of 70 global chief executives, who are driving cross-sector collaboration to accelerate the transition to a net-zero economy.

On Friday 5^th November at 11.15am GMT, Arçelik CEO and climate activist Hakan Bulgurlu was joined by Dr Fatih Birol (Executive Director, IEA) on a panel moderated by Mai-Britt Poulsen (Managing Partner, BCG).

Together, they discussed the importance of energy efficiency in the reduction of Scope 3 emissions. The panel focused on how businesses must lead net-zero ambitions through science-based decarbonization roadmaps, and the critical role Scope 3 emissions play in achieving them.

As well as discussing the Paris Agreement, clean energy transitions and what manufacturers can do to lower emissions.

Commentating on the announcement, Hakan Bulgurlu said "Two-thirds of global emissions are now coming from developing countries, but only one-fifth of investment in clean energy is occurring there. Manufacturers like Arçelik, and our partners in these countries, have a collective responsibility to lead the way in energy transformation."

Dr Fatih Birol, said: "IEA analysis shows the importance of immediate and sustained progress on energy efficiency over the next ten years on the path to net zero. Improving energy efficiency across sectors ensures that consumers and governments can also access a range of wider benefits."