Message from the Chairman
The global business environment has seen drastic changes in recent years. Fueled by the COVID-19 pandemic, the pace of these changes is gaining velocity. On the one hand, it has propelled the development of digital technology, driving the emergence of new business models and consumer behaviors that has led to digital transformation at the corporate, industry and global levels. On the other hand, it has triggered a profound probe into climate issues as countries are doing everything they can to curb global warming.
To stop the exacerbation of climate change, 130 countries pledged to the vision of becoming carbon neutral by 2050 during the COP26 UN Climate Conference held in the U.K. in November 2021. World leaders reached the agreement to phase down the reliance on coal and fossil fuels. To reach this goal, major changes must take place at the individual and societal levels.
In 2021, I had the honor of receiving the Lifetime Achievement Award at the 19th Global Views Leaders Forum and the Management Medal from the Chinese Management Association. I would like to take this opportunity to express my utmost gratitude to all members in the Far Eastern Group, who have created values for the society through corporate means. In light of the increasingly capricious environment, I believe corporations must be equipped with 4 critical abilities:
1. Agility – corporations must be able to make swift adjustments and take immediate actions when a course alteration is called for;
2. Flexibility – corporations must be able to respond to unexpected changes by modifying outputs and services;
3. Endurance – corporations must be able to retain their composure and orderly operation amid stress;
4. Sustainability – corporations must be dedicated to creating long-term values and positive influence for customers, employees and the entire society.
FENC is an international conglomerate with locations throughout Asia and America. With the raging COVID-19 pandemic and the restrictions it brought upon the world, ensuring employee health while fulfilling all obligations to the customers. Its agility has made FENC a favored partner among customers.
It is FENC’s firm conviction to develop green products. With its vertically integrated supply chain and advantages in cross-domain technological partnerships, the Company has channeled its core capabilities, giving birth to an array of innovations and recycling technologies that have been deployed in the land, ocean and air. With its recycling and remanufacturing innovations applied towards the waste PET bottles, polyester and industrial gas, FENC is chartering a new roadmap for sustainable growth.
Actions towards net-zero cannot wait, and FENC is answering the call to reach this global vision. The Company has implemented progressive measures to reduce carbon emissions, which unfold through 5 major strategies. Tackling emissions from the production, fuel, energy, raw material and transportation fronts, the Company continues its quest for new technology as it forms partnerships with the entire value chain to build green business models, reduce carbon emissions and fulfill its corporate social responsibility.
FENC has received accolades from a wide range of organizations. The Company is a constituent of multiple sustainability indexes and ratings, including CDP, MSCI ESG Leaders Indexes, FTSE4Good Emerging Index, Taiwan Sustainability Index, TWSE Corporate Governance 100 Index and Greater China Business Sustainability Index. The Company also won multiple awards from TCSA, GCSA, CommonWealth Magazine’s Excellence in Corporate Social Responsibility, and Global Views Corporate Social Responsibility Awards. Currently ranking among the top 5% in Corporate Governance Evaluation, the Company has also won Best Companies to Work for in Asia by HR Asia and the Sports Enterprise Certification in 2021.
FENC is committed to the balanced and sustainable development of environmental, social and corporate governance (ESG) for the long haul. The Company values feedback from all stakeholders and responds with active engagement. Equipped with a comprehensive framework for sustainable governance and high standards for management systems, the Company is able to maintain sound sustainability performance and competitive edges amid the fast-changing environment. With the aspirations to grasp new opportunities and create new models, we will take proper actions in pursuit of sustainability, creating win-win and prosperity for the corporation, society and environment.