What defines a resilient company in the 21st century? It’s no longer about market share or quarterly returns. It’s about whether a business can adapt, decarbonize, and lead through crisis. TIME magazine’s ranking of the world’s most sustainable companies should be read through that lens. It reflects a shift in how we assess credibility and endurance in a climate-altered world.

Beko’s placement, 17th out of a pool of 5,700 companies evaluated, confirmed that science-aligned sustainability is becoming a core measure of business performance. In a time when political momentum is faltering, companies have a responsibility to move decisively.

We’ve come through the hottest year ever recorded. Global temperatures in 2024 breached the 1.5°C threshold, according to the EU’s Copernicus Climate Change Service. This is no longer a future scenario, but a present reality. And the disconnect between climate science and financial systems grows more dangerous by the year.

Sustainability metrics must move beyond reputation. They need to become standardized signals of risk and resilience. In effect, they should serve the same function credit ratings do: helping us understand whether a business is built for a world in flux. The World Economic Forum projects that staying on our current emissions trajectory could shrink global GDP by up to 30% by the end of the century. That’s not merely a theoretical projection, it’s an economic collapse in motion.

And yet, even as the climate crisis deepens, climate finance is slowing. Total flows reached a record $2 trillion in 2023, but growth dropped to 11%, down from the 24–29% range of previous years. Public climate finance fell by nearly 8%, and U.S. foreign aid cuts are likely to undercut a significant portion of global funding.

This is precisely where business must lead. And leadership means doing the hard work - not posturing, not waiting. In 2024, we made critical choices. Across Beko’s operations, over 60% of electricity came from renewable sources. We saved more than 220,000 cubic meters of water, recycled nearly all factory waste, and avoided close to 6,000 tons of CO₂e through energy efficiency. Our installed renewable capacity reached 90.2 megawatts, enough to power more than 50,000 European homes. These are operational shifts designed for long-term resilience.

Staying the course in the middle of economic turbulence is not easy. But that’s when long-term commitments matter most. In a crowded marketplace where products and prices blur, clarity of purpose becomes a true differentiator. Today’s consumers, particularly younger generations, are already making values-based choices. They look for companies that act with integrity and consistency.

Sustainability has become a market filter. Multiple studies show that more than half of global consumers are willing to pay more for sustainable brands—even during a cost-of-living crisis. The shift is well underway and institutional capital is beginning to respond, albeit slowly.

Our regulatory and financial systems still lag behind this new reality. ESG reporting remains inconsistent and difficult to verify. Only 41% of companies say ESG risks are reflected in their credit ratings. A review by Institute for Energy Economics and Financial Analysis (IEEFA) of more than 700 companies showed no reliable correlation between ESG scores and formal credit ratings. Meanwhile, some rating agencies are walking away from ESG reporting altogether, caving to short-term pressure.

This weakens trust in the system. ESG scores from different providers align just 61% of the time compared to 99% for financial data. That level of fragmentation undermines confidence and opens the door to greenwashing. The solution isn’t less ESG. It’s better ESG. Climate performance must be measurable, transparent, and auditable. If a company is not aligned with a 1.5°C pathway, it should face real consequences in capital markets.

The urgency continues to grow. The World Bank warns that a 4°C world could force 200 million people from their homes and push another 130 million into extreme poverty. UNEP reports that one in seven people still lacks access to cooling. As extreme heat becomes the norm, these gaps are growing more deadly. Africa, which has contributed the least to global emissions, but remains the most exposed.

These are not isolated environmental statistics. They are warnings about systemic fragility - economic, social, and political.

In the appliance industry, our impact is far-reaching. Appliances account for nearly 40% of global residential electricity use. As middle classes grow and global demand for cooling rises, emissions will increase - unless efficiency becomes the default. UNEP projects 14 billion cooling appliances by 2050.

This is where design choices matter. At Beko, more than 80% of our emissions come from the use of sold products (Scope 3). Building highly efficient appliances is essential. But doing so often increases production costs by 15–20%. In many regions, those costs can’t be passed on to consumers.

This is the challenge I face every day: balancing climate urgency with real-world economics. Progress won’t happen through pledges alone. We need clear standards, smarter incentives, and more collaboration across the value chain. Retailers must prioritize low-impact products. Financial institutions must share the investment burden of a just transition.

The decisive decade has arrived. The question is no longer whether sustainability matters. The question is who will lead and how fast.

TIME’s recognition is a milestone we are extremely proud of. But it comes with responsibility: to accelerate, to scale, and to bring others along.

We cannot wait for perfect conditions or flawless policies. The only moment we have is now.

And business - credible, science-aligned, values-led business - must drive the change.

Because what’s really at stake isn’t market position. It’s whether we can be proud of the legacy we leave behind.

Are we willing to be good ancestors?

That’s the future worth building.

Author

Hakan Bulgurlu CEO