FENC develops the framework for material topic analysis based on the standards of stakeholder engagement in Global Reporting Initiative (GRI) standards and AA1000 Assurance Standard, as well as the principles of determination, analysis and verifiability. The Sustainability Implementation Committee identifies the stakeholders and material topics each year and administers surveys to assess external inputs every 3 to 4 years. The latest survey was conducted in 2019, with a total of 576 surveys collected. The stakeholders and material topics require executive approval to keep the course of sustainable development and Sustainability Report in line with the expectations of internal and external stakeholders.

In 2021, FENC examined major risks posed by climate change referencing UN SDGs, TCFD and the Global Risk Report 2021 by World Economic Forum. Considering the severity of climate-related risks, the significance of the material topic, response to climate change, is elevated with the approval of the convener of the Sustainability Implementation Committee.

Analysis Process and Outcome

Analysis Process of Stakeholders

Analysis Process of Stakeholders

Matrix of FENC Material Topics

Notes:
1. Seven topics of concern are also identified. They are “Construct happy workplace”, “Foster employee career planning”、“Promote product marketing”、“Coordinate sustainable supply chain development”、 “Cultivate compassionate bonds”、“Optimize land resources”、“Build sustainable community”.
2. “Optimize land resources” and “build sustainable community” apply to FERD only; “construct happy workplace”, “foster employee career planning” and “reinforce environmental safety and health management” apply to production business only.
Online Survey on Issues Related to Corporate Sustainability for Far Eastern New Century

Convener of Sustainability Implementation Committee 
President of Corporate Management Humphrey Cheng

FENC takes a holistic approach when it comes to ESG implementation. The work started in 2010 with the ESG project implementation. FENC holds stakeholder feedback with high regard and pays close attention to the international development on ESG efforts. The world focused its attention on climate issues in 2021. As countries show their commitment to reaching net zero emissions by 2050 with proclamations and actions, FENC is also committing to the cause, elevating the significance of the material topic, “Response to climate change.” The Company will continue to prioritize the material topics based on future development.