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Stakeholders and Material Topics
  • Identification of Stakeholders and Engagement
  • Identification of Material Topics and Response

FENC identifies stakeholders through the use of questionnaires that were designed based on the 5 principles in AA1000 Stakeholder Engagement Standards – dependency, responsibility, influence, diverse perspective, and tension. The Company also solicits opinions from all CSR committee members as the basis for stakeholder identification.

To ensure that FENC can timely identify the stakeholders and the issues of concern, the Company reinstated the stakeholder and material topic identification project, which is expected to conclude in 2019.

 

遠東新世紀的利害關係人

Stakeholder Dialogue and Engagement

FENC provides multiple channels for dialogue and engagement to strengthen the connection with stakeholders, and makes timely policy adjustments to meet stakeholders' expectations. Stakeholder dialogue is also reported regularly during the Board meetings and regular meetings. In 2018, we have conducted over 9,300 stakeholder dialogue of various forms with over 216,000 participants in attendance records.

Stakeholders Material Topics Channel and Frequency Number of Dialogue
in 2018
Number of
Participants in 2018

員工及工會
Employees / Labor Unions

  • Boost stakeholder dialogue
  • Refine operational performance and strategies
  • Perfect risk management
  • Reinforce environmental safety and health management
  • Construct happy workplace
  • Foster employee career planning

 

 Internal Meetings     
 Trainings/Drills/Practices    
 Educational Programs 
 Visits/Exchanges 
 Evaluation/Review/Audit  
 Questionnaire/Survey    
 Grievances/Comment Box 
 Company Website  

 5,390 180,116 
政府/ 主管機關
Government
  • Boost stakeholder dialogue
  • Refine operational performance and strategies
  • Perfect risk management
  • Govern with steady pace
  • Prevent and control environmental pollution
  • Reinforce environmental safety and health management

 External Meetings   
 Internal Meetings  
 Trainings/Drills/Practices  
 Educational Programs   
 Visits/Exchanges    
 Evaluation/Review/Audit    
 Company Website  

 215 1,510 
合作夥伴(供應商 / 承包商)
Partners
 
  • Boost stakeholder dialogue
  • Refine operational performance and strategies
  • Perfect risk management
  • Reinforce environmental safety and health management
  • Coordinate sustainable supply chain development
 External Meetings   
 Internal Meetings  
 Trainings/Drills/Practices 
 Visits/Exchanges  
 Evaluation/Review/Audit 
 Questionnaire/Survey  
 2,372 3,756 
客戶
Customers
  • Implement sustainable development
  • Boost stakeholder dialogue
  • Refine operational performance and strategies
  • Perfect risk management
  • Reinforce environmental safety and health management
  • Respond to climate change
 External Meetings   
 Internal Meetings 
Trainings/Drills/Practices  
 Visits/Exchanges     
 Evaluation/Review/Audit   
 Questionnaire/Survey   
 Grievances/Comment Box 
 Company Website  
 562 6,552 
工廠週邊鄰居
Local Residents
  • Boost stakeholder dialogue
  • Perfect risk management
  • Prevent and control environmental pollution
  • Build sustainable community
  • Reinforce environmental safety and health management
  • Create social prosperity
 External Meetings 
 Trainings/Drills/Practices 
 Educational Programs 
 Visits/Exchanges 
 Grievances/Comment Box 
 92 9,003 
股東/ 投資人
Shareholders / Investors / Financial Institutions
  • Refine operational performance and strategies
 External Meetings  
 Internal Meetings 
 Visits/Exchanges  
 Questionnaire/Survey  
 Grievances/Comment Box  
 Company Website  
 619 15,605 
NGO
NGOs
  • Implement sustainable development
  • Perfect risk management
  • Prevent and control environmental pollution
  • Elevate energy and resource efficiency
  • Build sustainable community
  • Reinforce environmental safety and health management
 Trainings/Drills/Practices 
 Visits/Exchanges 
 Evaluation/Review/Audit 
 8 52 
產業協會
Industry Associations
  • Implement sustainable development
  • Boost stakeholder dialogue
  • Instigate production and product innovation
  • Respond to climate change
  • Elevate energy and resource efficiency
  • Reinforce environmental safety and health management
 External Meetings   
 Trainings/Drills/Practices 
 Visits/Exchanges  
 Questionnaire/Survey 
 41 111 

Stakeholder Communication Actual Achievements in 2018

 Stakeholder Communication Actual Achievements in 2018

Circular economy continues to be the focus for businesses around the world and shows no signs of subsiding on the global economic front. FENC attended the Circular Economy Forum held by Taiwan Cooperative Securities on January 9th, 2018. During which, investors engaged in discussions on FENC strategies, measures and performance on circular economy.

The management team shared with investors, who are also the main stakeholders during this forum, the Company's sustainability strategies and momentum in innovation and R&D. Projects shared include food-grade packaging and textile products made from recycled PET bottles, and the sneakers and jersey shirts made out of recycled plastic ocean waste. They are the fruits of exclusive collaborations with adidas and the environmental group, Parley of the Oceans. Such projects set the tone for FENC's future deployment in the recycling industry while addressing investors' concerns for the Company's future outlook. The heightened transparency gives investors insights into the Company's mission and progress on green sustainability. 

 

 Participating in European Innovation Week and Exhibit Green Products

Antti Peltomaki, Deputy Director General at DG Internal market, Industry, Entrepreneurship and SMEs (DG GROW) led the delegation of business representatives from the European Union and hosted European Innovation Week in June 2018. The event features circular economy, green energy and environmental industry.

FENC is the developer of cutting-edge recycled PET technology and was invited to this event by the Environmental Protection Administration. During the course, FENC provided exhibits of the Company's green products, including IKEA storage box, which is made with recycled PET, and adidas shoes, which are made with recycled plastic ocean waste. While promoting recycled PET, FENC also promoted industries in Taiwan as protectors of the environment, shedding light on the business model and environmental benefits of circular economy for the government and corporations.

 

 Visit and Exchange Between FENC and National Chengchi University

On January 2nd, 2018, students enrolled in the course, Strategic Risk Management, from the Department of Accounting, National Chengchi University visited FENC. The course teaches corporate risk management approaches through corporate visits. President of Corporate Management Humphrey Cheng gave a lecture titled, Corporative Governance/Operating Risk from CSR Perspective. He talked about how FENC conducted regular review and tracking of risk indicators through the risk forecast system, and reduces operational risks by proposing corresponding measures in advance. He also explored the meaning of corporate social responsibility in terms of corporate governance and operating risk.

 

 Assisting the 20th Anniversary Exhibition of the Recycling Fund

Recycling Fund Management Board of the Environmental Protection Administration was established in July 1998 to enhance recycling of resources and maintain an open channel. The board held the 20th Anniversary Special Exhibition between July 31st and August 25th, 2018. In attendance were scholars, industry experts, as well as government officials from Taiwan and around the world.

The special exhibition was held at FE EcoARK in the Pavilion of New Fashion, which FENC built for the 2010 Taipei International Flora Exposition using 1.52 million used PET bottles. FE EcoARK exemplifies the concept of "circular rebirth." As the venue for this special exhibition, it holds a special significance. FENC is the curator for the exhibition of recycled and regenerated products, including textile and daily goods. The event also offered a lecture on circular economy, sharing the idea and application of circular rebirth with the public. FENC was acknowledged by the Environmental Protection Administration for the contribution toward the recycling industry and accepted the certificate of appreciation from Minister Ying-Yuan Li.

 

To identify material topics, FENC consulted the materiality principle of the GRI standards and global trends in sustainable development, including analysis on material topics from United Nations Conference on Sustainable Development (UNCSD), World Business Council for Sustainable Development (WBCSD), World Economic Forum (WEF), and Sustainability Accounting Standards Board (SASB). The Company also takes into consideration material topics from global flagship enterprises and domestic peers, and those distilled from social trends. We have identified 27 material topics relevant to the Company.

In 2016, FENC conducted a survey to assess the degree of influence material topics pose on stakeholders and the level of impact on the Company. A total of 416 questionnaires were collected. In 2017, the CSR Committee also assessed the level of impact of material topics on the external economies, environment and society. With approval from high-level management, 22 material topics were identified.

For sustainable governance to be more focused, the CSR Committee consolidated the 27 material topics into 16 for the year 2018 in order to concentrate on the core topics and enhance communication.

When several material topics are consolidated into one, the topic most relevant to "level of impact on the sustainable development of the Company, as well as the external economies, environment and society" and "degree of influence on stakeholders" chosen for the modified material topic matrix.

Process of Identifying Material Topics 2016-2019

⇒ Questionnaire on Issues Related to Corporate Sustainability for Far Eastern New Century

►Material Topics Corresponding Table

E:Environment S:Social G:Governance

Pre-adjustment Material Topics Adjusted Material Topics
Sustainable strategies and governance  Implement sustainable development(E、S、G)
Well-established communication channel
Technical exchanges and cooperation
Boost stakeholder dialogue(E、S、G) 
Operational strategies and future development
Operational performance
 Refine operational performance and strategies(G)
Risk management
Regulatory compliance
Perfect risk management(G) 
Corporate governance Govern with steady pace(G)
Manufacturing process and product innovation
International standards certification
Instigate production and product innovation(E、G)
Environmental pollution management Prevent and control environmental pollution(E)
Response to climate change Respond to climate change(E)
Energy and resource management Elevate energy and resource efficiency(E)
Land use management Optimize land resources(E)
Customer safety
Ecological conservation
Sustainable architecture
Build sustainable community(E、S)
Work environment and safety
Chemicals and toxic substances management
Crisis management and disaster prevention
Contractor health and management
Reinforce environmental safety and health management(S)
Care, benefits and compensation for employees
Child labor and freedom of associations
Construct happy workplace(S)
Career training and development Foster employee career planning(S)
Supply chain sustainable development Coordinate sustainable supply chain development (S)
Advancing public interest
Pursuing prosperity together with the communities
Create social prosperity(S)

►Material Topics Matrix

永續議題重大性分析矩陣

Note: Blue blocks are the material topics of this CSR report; white blocks are topics with comparatively lesser impact or influence.

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