FENC Won Double Prizes at First Year of APSAA The Performance in Sustainability Finance Excels
Far Eastern New Century Corporation (FENC) was awarded Gold and Bronze Award with projects “Steadily Develop Sustainable Finance with Global Partnerships Toward Sustainable Core Business Value” and “Safe Workplaces with Peace of Mind Amid COVID-19: Location-specific Response with Early Deployment and Agility and Optimal Care for Employees” respectively in the first year of the Asia-Pacific Sustainability Action Awards (APSAA). The Award ceremony was held on August 12, 2022 and FENC Vice Chairman Peter Hsu was representing the Company to receive the awards.
FENC actively engages in capital market innovation and strives to be a model enterprise in Sustainable Finance. By June 2022, there are total 7 sustainable finance products of the Company in the market, all of which are the first issuance in Taiwan or Asia, up to US$1.1 billion (NT$33 billion) funds in total. It obtained advantaged interest rate with outstanding sustainability performance, and the funds raised are all used in sustainability projects to create a triple win among the business, society and environment. In Taiwan, FENC is the only company accredited to issue three sustainable bonds (Green, Sustainability and Social Bonds) and the first non-financial enterprise to have its sustainable bonds registered in the Sustainable Bonds Database of the International Capital Market Association (ICMA). Far Eastern Ishizuka Green PET Corporation, the Japanese subsidiary company of FENC, has signed a SDGs Loan this February and made SDGs part of the operational goal to build a Net-Zero factory in Kansai area with the green fund. This June, FENC has signed the very first Blue Loan in Taiwan, which will be used exclusively in the projects of ocean sustainability and water resource; and in July, FENC has become one of the first issuance institutions approved for Sustainability-Linked Bond (SLB).
Apart from the outstanding performances in sustainable finance, the Company is continuously selected as a constituent of multiple sustainability indexes, including MSCI ESG Leaders Indexes, FTSE4Good Emerging Index, etc. This year, FENC was awarded “Most Honored Company No. 2” by Asia Executive Team of Institutional Investor Magazine; this selection is recognized as an important indicator in the global investment field. In addition, FENC was also selected by FinanceAsia as the “Asia’s Overall Best Managed Company” and won 4 AREA (Asia Responsible Enterprise Awards); the Company is ranked number one in Asia in the number of AREA received.
Vice Chairman Peter Hsu (Right) and CFO David Wong (Left) promote sustainability development actively in FENC.
A Safe Workplace for Employee in the Pandemics
The pandemic of COVID-19 has surged all around the world. Far Eastern New Century Corporation (FENC), in responding to the global pandemic development and Government policies in different countries, has built up various countermeasures and provided updated relevant information to meet the local circumstances for employees at its production sites all around the world.
FENC tries to reduce the risk of infection by implementing “Split Operation and Working from Home” as well as “Limiting Clustering” measures while distributing surgical masks and rapid self-testing kits to the employees. The Company also established a “Mobile Health Care System” to keep track of the health conditions of the employees and their family members through the web-based system. Pandemic-related information issued by the government is also updated immediately through the system to provide convenience for employees. FENC encouraged employees to be vaccinated by giving incentives to increase the vaccination coverage and protection. For expat employees, the Company compiled a quick guide on international travel during the pandemic, increased the medical coverage with insurance policies and provided a high percentage of reimbursement for the quarantine, screening and other related expenses. In addition, the Company donated 3,800 critical intubation protective boxes and 1,600 protective face shields to 171 Taiwanese medical institutions, all of which are made of medical-grade sheets produced by FENC.
FENC attaches great importance to the rights and interests of employees, and performs human rights due diligence, which is supervised and managed by the Board of Directors. 2021 employee satisfaction survey results showed 86.8% of employees are satisfied with the Company and that 91% of them are proud of it. FENC has a total of more than 20,000 employees around the world. They cooperate and assist each other, and transfer Taiwan's good management system, risk pre-alarming system and pandemic prevention experiences to overseas teams so as to take care of more employees.
The pandemic fighting team of FENC
