FENC Won the Global Views Monthly’s First Prize at Circular Sustainability and Model Award at Manufacturing Industry
The results of the 18th Annual CSR & ESG Award by Global Views Monthly were announced on May 3, 2022. FENC won the "First Prize at Circular Sustainability" and "Model Award at Manufacturing Industry" with outstanding sustainability performance. The Chairman of FENC, Douglas Tong Hsu, attended the award ceremony in person to receive the awards.
Mr. Douglas Tong Hsu stated that FENC, which is dedicated to producing green products, applies its core abilities to various innovation and development of recycling technology, implements a sustainable business model, and creates the brand-new mobility for growth. Putting a lot of effort into sustainability comprehensively, FENC sets the paradigm of world-class sustainable corporation.
For a long period of time, FENC has been committed to three dimensions of sustainable development, which are Environmental, Social, and Governance (ESG). In addition, FENC values the opinions of stakeholders and communication in creating engagement. With complete corporate governance framework and high-level management system, FENC conducts the employee satisfaction survey regularly to create a sense of identity in the workplace, and provides abundant domestic and international learning resources for deploying talents. In the meanwhile, FENC has clients’ needs met with agile competence, which is recognized by clients.
Start on a New Path to Sustainable Development with Innovative Technology
With the green technology of recycling wastes from land, ocean and air to new products, FENC develops new blueprint of growth. In 2021, FENC formed collaborations with Lululemon, Zara and LanzaTech in the development of industrial waste air recycling technology, and published the world’s first yoga clothes and skirts made of carbon dioxide recovered from steel plants. Through transforming CO2 emission into polyester material, which is then converted into new textile products, FENC creates a new path to sustainability in the polyester industry.
In order to align with the global vision of reducing GHG emissions, FENC has formulated five strategies to carry out carbon reduction actions with a pragmatic attitude, including improving energy efficiency, fuel substitution, developing renewable energy, transformation of raw material usage, and using CCUS technologies. Besides, it has been installing solar power generation equipment widely and implementing biogas power generation so far. Moreover, FENC has made a pledge to achieve 2050 net-zero emissions by setting short, medium and long-term carbon reduction goal, and developing low-carbon business model with a collaborative value chain.
FENC’s annual production capacity of recycled polyester, which was over 300,000 tons in 2021, is the 2nd of the world. Also, FENC is the biggest food-grade rPET supplier and the biggest recycled ocean polyester filament supplier in the world. To become the biggest rPET supplier by 2025, it has announced to build new plant in Kansai, Japan, and plans to expand the capacity of rPET in Vietnam, Philippines and Malaysia in the future. In addition, it will expand the application of recycled bottles to sustainable bricks for a well-known brand to facilitate environmental sustainability.
Through the process of recycling and remanufacturing, FENC gives new life to waste PET bottles, recycling 20 billion PET bottles each year, enough to circle the earth 115 times; Collaborating with adidas® and Parley for the Oceans on the Ocean Plastic project, it has transformed over 11,000 metric tons ocean waste into new merchandises so far; Compared to conventional PET resin production, using recycled PET bottles as the raw material reduces GHG emissions by 63%. In 2021, FENC’s contribution to carbon reduction was 580,000 tCO2e, which is equivalent to the carbon absorbed by a 58,000-acre forest or carbon emission from electricity of 320,000 households each year.
Foster Social Prosperity with Sustainable Finance
FENC is the only non-financial enterprise in Taiwan issuing 3 sustainable development bonds (Green Bond, Sustainability Bond, Social Bond) and it became the first Taiwanese non-financial corporation incorporated in Sustainable Bonds Database of ICMA (The International Capital Market Association). FENC is an innovative pioneer that leads the domestic financial industry with the implementation of sustainable finance, continuing to create win-win for the government, corporations and investors.