Home appliances
Established in 2021 as a 60:40 joint venture between Arcelik (60%) and Hitachi Global Life Solutions (40%) to manufacture, sell and provide after-sales services of Hitachi branded home appliances (outside of the Japanese market). Manufacturing occurs in Thailand and China.
Company Ownership
Arcelik Hitachi Home Appliances
THA
Arcelik AS
owns 60% of Arcelik Hitachi Home Appliances
TUR
Consumer electronics, household appliances
Established in 1955 by Vehbi Koc. It has 45 production facilities in 13 countries, supplying its 22 brands to 130 countries. Brands include Beko and Grundig. In 2024 Arcelik renamed its global operations under one corporate brand "Beko".
Koc Holding AS
owns 100% of Arcelik AS
TUR
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.
Hitachi Global Life Solutions Inc
owns 40% of Arcelik Hitachi Home Appliances
JPN
Home appliances
Formed a joint venture with Arcelik in 2021 in the global home appliance business (excluding Japan).
Company Assessment
(Last updated Mar 2024)
Praise
Criticism
Information
Arcelik Hitachi Home Appliances
Praise
Criticism
Information
Part owned by Hitachi, which has criticisms
This company is 40% owned by Hitachi, which has numerous criticisms and an overall Shop Ethical rating of 'D'.
Source: Shop Ethical
(2023)
Sustainability claims
This company has sustainability claims and targets on its website.
Source: company website
(2023)
Arcelik AS
Praise
Criticism
Information
CDP Climate Change score of A-
In 2023, 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
(2023)
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)
76/100 in TIME rankings
World's Most Sustainable Companies of 2024 by TIME and Statista recognises the Top 500 most sustainable companies in the world. From a selection of 5,000 of the world's largest companies, non-sustainable businesses were excluded, and the remaining companies were rated on Commitment & Ratings, Reporting & Transparency, and Environmental & Social Stewardship. This company received a total score of 75.7/100, ranking 44th overall.
Source: TIME
(2024)
CDP Water Security score of B
In 2023, 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 B.
Source: CDP
(2023)
Global 100
The 2024 Global 100 Most Sustainable Corporations in the World list by Corporate Knights is based on a rigorous assessment of nearly 7,000 public companies with revenue over US$1 billion. All companies are scored on sustainable revenue and investment, gender and racial diversity, CEO pay versus employee average, CEO bonuses based on sustainability performance, taxes paid and contributions to employee pensions. This company ranked #60 in the Global 100, with an overall score of C+.
Source: Corporate Knights
(2024)
Supply chain practices in China
The Green Supply Chain Corporate Information Transparency Index (CITI) evaluates consumer-facing companies that have a sizeable supply chain in China. The evaluation uses government supervision data and public information to assess the environmental management of their supply chains in China. This company received a score of 16.76/100 (retrieved 24 Nov 2023).
Source: IPE
(2023)
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. [Listed under Information due to age of report]
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)
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)
Gender equality
This company appears on the 2023 Bloomberg Gender-Equality Index, signifying a commitment to supporting gender equality through policy development, representation, and transparency.
Source: Bloomberg
(2023)
Sustainability claims
Follow the link to see this company's sustainability claims.
Source: company website
(2024)
Koc Holding AS
Praise
Criticism
Information
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)
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)
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)
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)
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)
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)
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)
Company Details
Type:
Joint venture
Founded:
2021
Employees:
6,000
(2022)
Contact Details
Products / Brands
Arcelik Hitachi Home Appliances / Beko Australia (distributor)
Hitachi
Washing Machines & Dryers
Hitachi
Fridges & Freezers