FENC Issues the Latest CSR Report: Engaging Dialogue for the Green Future
FENC is issuing the 6th CSR report. We are striding forward in sustainable steps, engaging in an active dialogue with stakeholders to develop a green future and create a beautiful new century.
FENC is widely recognized for fulfilling its social responsibilities. Once again, the Company ranks among the World’s Best Employers published by Forbes in 2018, taking the top spot among corporations in Taiwan. Awards the Company received during 2018 include the Corporate Social Responsibility Award – Winner at Manufacturing Industry from Global Views Monthly as well as 8 awards from TCSA and GCSA, including the third consecutive Best Report of the Year Award and the Most Prestigious Sustainability Awards – Top Ten Domestic Corporates. Chairman Douglas Tong Hsu was presented TCSA – The Outstanding Corporate Sustainability Professionals Award for leading the Company on the path to sustainability. FENC obtained CDP Climate Change Management Level in the same year and was incorporated as a constituent of multiple sustainability indexes, including MSCI ESG Leaders Indexes (MSCI ESG Rating - Industrial Conglomerates: A) and FTSE4Good Emerging Index.
The development of the 2018 CSR report is based on the 4 sustainable directions from the Company’s Sustainability Strategy Blueprint – Fostering robust governance; Enabling unlimited innovation; Navigating a green future; Creating inclusive society. The Company conducts stakeholder dialogue through multiple channels concerning the progress of various projects, reaching over 216,000 participants in 2018.
Climate change is growing severe and FENC is taking precautionary measures by identifying associated risks and opportunities. Hence, we introduced Task Force on Climate-related Financial Disclosure (TCFD) in 2018 as the reporting framework on climate-related risks and opportunities. FENC has also achieved monumental results in the development of green production and products. In 2018, green products brought in NT$31.47 billion in revenue, an impressive 16% increase from the previous year. Green product sales expand the Company’s influence on sustainability among the public. In 2018, the Company started the r-TEX Process development project, trying to make Textile to Textile (T2T) and circular economy a reality. With exceptional recycled PET (rPET) technology, FENC lent assistance to multiple international brands including IKEA, Unilever and Hasbro, helping them switch to recycled packing materials. We take active roles at major circular economy forums as participants and speakers, working with the government, academia and benchmark enterprises on solutions to mitigate and adapt to climate change.
FENC is determined to set a green paradigm for the industry peers. In 2018, we established targets on the reduction of energy consumption, water withdrawal, air pollutant emission and waste. Implementation on various projects has delivered tremendous results, including 95 energy conservation and carbon reduction projects, which avoided 82,456 metric tons of GHG. The water conservation project saved 1,801,000 kL of water, which accounts for 10% of the total water withdrawal at the Company. In 2018, FENC reduced 3.3% in energy conservation, 5.7% in GHG, 15% in air pollutants, and 3.7% in waste per unit production. Total recycled and reused water amounted to 1,022,196,000 kL, reaching 98% water recycling rate.
FENC values human rights. The Company established FENC Human Rights Policy based on various international human rights treaties, keeping the rights of the employees on par with international standards. The 2018 average wage the Company offered in Taiwan is 47% higher than the market average. Employee training hours have been rising for the 7th consecutive year. To ensure occupational safety and health for employees in production sites in China, the Company established Safety, Health, Environmental Protection and Fire Fighting Task Force in China. The comprehensive employee care policies provided by the Company surpass what the industry peers offer. This is warmly received by the entire staff.
The 3 beach cleaning campaigns FENC held in 2018 removed 2.5 metric tons of waste, including plastic bottles that FENC remanufactured into 3,000 pairs of socks. The Company collaborated with NGOs and major international brands to install water purification towers in the remote villages of Vietnam, providing 1,000 students with clean water for drinking and cleaning. In addition, 2018 marks the 10th consecutive year of the Company’s annual marathon. Over the decade, more than 43,000 runners and 6,300 volunteers have taken part in the event.
The scope of disclosure in FENC’s CSR report covers entities amounting to 95% of the revenues on the consolidated statement. Preparation of the report follows the latest Sustainability Reporting Standards under the comprehensive option from Global Reporting Initiative (GRI). The report has also received third party assurance from SGS Taiwan Limited. FENC will continue to publish the annual CSR report and engage in internal and external stakeholder dialogue. By fulfilling corporate social responsibilities, our actions will propel us toward the vision of building a new century.
Download the 2018 FENC CSR report at http://csr.fenc.com/report.aspx?lang=en
