Far Eastern New Century Issues Taiwan Debut Sustainability-Linked Bond, Underwritten by Yuanta Securities
Far Eastern New Century Corporation (FENC) (1402) listed its debut Sustainability-Linked Bond (SLB) on September 14 at the Taipei Exchange (TPEx), with an issuance amount of NT$2.5 billion and a five-year term. This echoes with the materiality of FENC’s sustainability strategy blueprint, linking the production and sales activities with the United Nations Sustainable Development Goals (SDGs) and selecting “reduction of GHG emissions” and “growth of green product revenue” as the Key Performance Indicators (KPIs) and Sustainability Performance Targets (SPTs) to demonstrate FENC’s ambition and determination in supporting sustainable development. The Chairman, Douglas Hsu, emphasized that as global citizens facing the threat of global warming, we should actively promote various carbon reduction actions, take the initiative to shoulder corporate social responsibility and fulfill our commitment to sustainable development.
As a global leader in circular economy model, FENC not only relies on leader’s devotion and corporate culture, but also maintains the core values of innovation, R&D as well as sustainable development, infusing new life into waste PET bottles, reducing GHG emissions and waste in the environment, protecting land and marine habitats, which have been recognized by international organizations such as the Sustainable Production Division from Directorate-General for Environment of the European Commission and the International Resource Panel at the United Nations Environment Programme. Meanwhile, FENC actively participates in capital market innovation and is committed to taking a role as pioneer in sustainable finance. FENC, up till now, is the only enterprise to be accredited and have issued four types of sustainable bonds and is also the first non-financial enterprise in Taiwan to have its sustainable bonds registered in the Sustainable Bonds Database of the International Capital Markets Association (ICMA), enhancing the presence of Taiwanese issuers in the international market. FENC will continue to implement sustainable development strategies, uphold continuous innovation, exert corporate influence from the inside out, and work together with global partners to achieve the ultimate goal of net zero carbon reduction and make a contribution to our planet.
This SLB was underwritten by the lead underwriter, Yuanta Securities, a subsidiary of Yuanta Financial Holdings. As one of the leading global entities value corporate sustainability, Yuanta Financial Holdings focuses on climate change and is determined to be a trendsetter for social and environmental practice change. In compliance with the principles of sustainable finance, and responsibility of investment and lending policies, Yuanta Securities is not only the top-ranking bond underwriter in terms of market share, but also acts an active communicator with the competent authorities during the course of promoting the sustainable development blueprint. Many entities are driven to implement sustainability and achieve goals as a result. Yuanta Securities, through introducing capital into sustainable development related financial products via market practice, works with bond issuers and investors to generate financial influence yet also strives to reduce the operational impact on the environment, thereby realizing the sustainable development goals of Yuanta Financial Holdings.
