FENC implemented a global employee satisfaction survey in 2023 with a total of 18,576 employees participating. The survey was divided into eight key aspects, including job duties and environment; employee development; organizational climate; supervisor support; communication and interaction; performance management; strategies, vision and goals; culture and systems. The scope of this survey was expanded to measure employee satisfaction throughout FENC’s global locations for the first time. Covering a wide spectrum of assessments, the results provided profound insights into employees’ thoughts and feelings.

With an overall satisfaction rating of 78.4%, FENC plans to further analyze the results by region to establish specific improvement plans with the aim to ensure employee satisfaction.

FENC launched an online survey system for departing employees in 2023, hoping to solicit suggestions for improvement from the employee perspective. The results identified “the plant environment,” “the relationship between female employees and the company culture” and “welfare” as the top three areas of dissatisfaction. To address these issues, FENC has responded with welfare enhancement, continuous promotion of a female-friendly workplace, career development training for female employees and improvement of plant environment.

FENC is a main supplier of Nike. The partnership began in 1982 with Nike’s first pair of “André Agassi” denim tennis shorts. Since then, 40 years have passed. Through effective communication, this close partnership continues to flourish and deliver quality products. In 2010, the collaboration transformed waste PET bottles into recycled polyester filament, which debuted as the national team uniform during the FIFA World Cup. Sports jerseys made of this eco-friendly material also received great consumer reaction, making it a trendy product. In addition to team uniforms at the FIFA World Cup, the recycled polyester filament has also been chosen for sportswear used during additional major international sports events, such as the Olympics and NBA, shining bright on the world stage.

On April 23, 2023, as a celebratory gesture marking four decades of collaboration and a move to enhance this partnership, Nike sent a team of executives, including the vice president overseeing the supply chain, to visit FEAZ. While showcasing its vertically integrated dyeing, finishing and garment production operation, FEAZ also presented its digital management systems, including the production line visual dashboard and production automation, to highlight FENC’s modernized capabilities.

During this visit, Nike presented a trophy to FEAZ as a token of gratitude and to commemorate the first 40-year partnership with an apparel supplier. The trophy is inscribed with “Win As A Team.” As the words suggest, FENC intends to form powerful teams with customers, creating quality products through trustworthy relationships.

Taiwan's Climate Change Response Act went into effect on February 15, 2023, and the government continues to engage agencies and industry associations for discussions, which will serve as a reference for the delegated legislation to ensue. On October 12, 2023, the Climate Change Administration of the Ministry of Environment held a meeting with the Taiwan Man-made Fiber Industries Association and its members to discuss carbon fees and the voluntary reduction plan. As the convenor of the textile industry working group under the Industrial Development Administration, which undertakes net zero promotion, FENC has been assisting the government with the implementation of carbon reduction, thus assuming the role of the event host.

Among the key issues discussed during the meeting are the exemption cap and payment methods for carbon fees. In addition, enterprises submitting a voluntary reduction plan and meeting the reduction targets are eligible for a preferential rate. Therefore, the discussions focused on reduction target-setting, the base year for carbon emissions and carbon fees due for unmet targets. FENC proposed several recommendations on behalf of the industry, such as taking prior carbon reduction performance into consideration when establishing reduction targets; increasing the average time period between the base years for carbon emissions; adding the circular economy measures to reduction targets for the voluntary reduction plan considering the significant contribution to carbon reduction from the circular economy. FENC’s recommendations were affirmed by the Climate Change Administration, which has increased the average time period between the base years for carbon emissions. Other recommendations are also being evaluated as potential provisions of the delegated legislation.

In December 2023, FENC’s Petrochemical Business signed a letter of intent on the supply of biomass materials with Marubeni Taiwan Co., Ltd. (Marubeni) and Idemitsu Kosan Co., Ltd. (Idemitsu Kosan). The cooperation involves the extraction of Bio-PX from biomass-derived naphtha by Idemitsu Kosan, and Plant 2 of OPTC under FENC converts the Bio-PX into Bio-PTA. Marubeni is responsible for establishing the biomass supply chain and facilitating product sales by coordinating with the upstream and downstream customers. Compared to products made of virgin materials, those produced from biomass materials cut carbon emissions and contribute towards a low-carbon society.

FENC strives to create innovative sustainable materials. Plant 2 of OPTC became the first among its peers in Taiwan to successfully develop Bio-PTA. In 2024, the plant is expected to be certified by the International Sustainability & Carbon Certification, ensuring the traceability and sustainability of its biomass materials as well as the supply chain in order to achieve its environmental goals and fulfill its sustainable commitment to stakeholders.

Over the years, FENC has never wavered in its commitment to ESG. The Company scrutinizes policy integrity, perfects corporate operation and enhances competitiveness by participating in a host of sustainability ratings. In 2023, FENC became the first corporation in Taiwan with two top ESG awards from the Global Views Monthly. The Company also received the Corporate Governance Award from the SGS ESG Awards, and the accolades continued with eight TCSA Awards. Additional details about FENC’s award records are included in Sustainable Recognitions.

Being a frequent recipient of ESG awards, FENC’s sustainability performance is reflected in the recognitions given by sustainability rating agencies. The Company was thus invited to speak at the sharing sessions organized by these organizations. Allen Sha, Executive Vice President and the executive convenor of the Sustainability Implementation Committee, shared FENC’s success stories in sustainability endeavors with its partners and the public during these events. On September 7, he attended the ESG and USR Model Sharing Session held by the Global Views ESG Alliance to discuss the project that won the first prize in the Low-Carbon Operation category. He also spoke on the topic, “Net-zero Solutions Through Sustainable Business Model.” On November 2, he gave a lecture on FENC’s corporate governance performance at the ESG Seminar held by SGS Taiwan Ltd. On December 20, during the Sharing Session of Corporate Excellence in Environmental Sustainability held by Taiwan Institute for Sustainable Energy, he shared the Company’s innovative environmental solutions through the circular economy. He also explored solutions to textile waste with interactive audience engagement. Drawing over 1,000 participants during the three events, it is FENC’s hope to engage and collaborate with more stakeholders to build a circular ecosystem.

In 1988, FENC created the IR Team to be in charge of investor relations. Over 26 years have passed, and the team now provides services to approximately 100,000 shareholders. Its services have diversified as the Company expands and as the world of investment evolves, and the mode of delivery has also transformed from the conventional office briefing to the dynamic multimedia presentation of special projects and new products using mediums such as videos. The IR Team provides customized communication formats to meet the needs of its audience while ensuring transparency. When appropriate, the team invites managers and experts to provide the information needed, hoping to deliver tailored services to the participants through team efforts.

Being highly awarded by three major international investment rankings, FENC grabbed the international spotlight two years in a row. The Institutional Investor magazine presented FENC with the title, Most Honored Company (Rest of Asia, ex-Mainland China) along with Best Board, Best CEO, Best ESG, Best CFO, Best Investor Relations Professional and Best IR Team. FENC is also the winner of Best Overall Company in Taiwan in the Best Companies Poll by the internationally renowned financial media, FinanceAsia. Another authoritative financial magazine, Asiamoney, presented FENC with the title, Asia’s Outstanding Company.

The three awards are decided through polls held among investors. FENC was distinguished out of over one thousand peers as the only winner in the sector it represented in Taiwan. Rankings conducted by Institutional Investor, in particular, are regarded as the benchmark of excellence in the global investment arena and hailed as “the Oscars in the foreign investment circle.” FENC’s win represents a vote of confidence for the management team, recognizing its ability to establish long-term and stable bilateral relationships with stakeholders amid times of change and uncertainty. It is also a call for more attention to corporate sustainability.