遠東新世紀股份有限公司〈原遠東紡織〉,乃台灣規模最宏大、最多元化的紡織及相關產品製造者。本公司共分化纖、紡織、石化、土地開發與轉投資五大事業。

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Sustainable Governance

Sustainable Governance

Corporate sustainability is built upon robust governance. FENC pursues sustainable governance to create sustainable prosperity

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Stakeholder Dialogue

While pursuing sustainable management, FENC takes into account recommendations from as well as impacts on stakeholders in order to foster sustainable growth for the Company and the society.

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

 ProcessOutcome
Stakeholder
  1. 14 categories of stakeholders are identified based on 104 CSR reports from Taiwanese corporations and global customers.
  2. The 5 principles and 2 engagement plans from AA1000 SES (Stakeholder Engagement Standard 2015) are consulted to produce the survey, which is then administered among members of FENC Sustainability Implementation Committee. A total of 128 (96%) valid surveys are collected.

  8 categories of stakeholders are identified.

  1. Employees / Labor Union
  2. Direct Customers
  3. Government
  4. Industry Association
  5. External Evaluation Agencies / Media
  6. Shareholders / Investors / Financial Institutions
  7. Local Residents and Organizations
  8. Partners (Suppliers / Contractors)
Material Topic
  1. In-depth analysis is conducted on 109 CSR reports, research studies and sustainability websites, including Sustainability Accounting Standards Board (SASB), the Global Risk Report 2019 by World Economic Forum, WBCSD Vision 2050, Fashion Pact G7 and Green Biz. Compiled into 1,771 sustainability issues. After analysis, we classified 19 types of sustainability issues that are most relevant to FENC.
  2. Evaluation standards on material topics are established based on GRI Standards. Nine categories of questions are designed for the survey, which is administered to internal and external stakeholders. A total of 448 (90%) of surveys are collected.

The analysis produced 12 material topics and 7 topics of concern.

 

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.
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