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Far Eastern New Century's Commitment to Sustainability and Climate Change

Strategic Insights

— 1 min read

As the world grapples with the devastating consequences of climate change, Far Eastern New Century (FENC) is taking bold steps to reduce its carbon footprint and promote sustainable practices. The company's 9th edition of the Sustainable Report highlights its commitment to empowering possibilities and confronting challenges with corporate social responsibilities. FENC is aligning with the global effort to reduce carbon emissions, setting ambitious targets to reach 20% reduction by 2025, 40% reduction by 2030, and net zero by 2050.

Key Takeaways:

  • FENC established a company-wide goal to reduce greenhouse gas (GHG) emissions by 20% by 2025, 40% by 2030, and reach net zero by 2050.
  • The company has developed green technology to upcycle PET bottles, polyester waste, and waste gases, reducing its environmental impact.
  • FENC has built a green supply chain, generating NT$38.379 billion in revenues from green products in 2021.
  • The company is a leader in sustainable finance, issuing three classes of sustainable bonds: green, sustainability, and social bonds.
  • FENC focuses on avoidance and recycling strategies, establishing reduction targets on energy consumption, water withdrawal, waste, and air pollution.
  • The company has expanded solar power generation, reaching 12,417 kW in installed capacity in 2021, and plans to triple the current capacity by 2025.
  • FENC conducted a GHG inventory in 2021, based on the latest ISO 14064-1 standards, to set GHG reduction targets.

Statistics:

  • FENC aims to reduce GHG emissions by 20% by 2025, 40% by 2030, and reach net zero by 2050.
  • The company generated NT$38.379 billion in revenues from green products in 2021.
  • FENC has installed 12,417 kW of solar power capacity in 2021, with plans to triple the current capacity by 2025.
  • The company issued three classes of sustainable bonds: green, sustainability, and social bonds.

Sources:

  • Far Eastern New Century Corp., website: https://www.fenc.com/?lang=en
  • ISO 14064-1 standards.

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