FENC Releases First Climate and Nature-related Financial Disclosure Report (TCFD / TNFD Report)
Promoting Dual Transformation in Climate Action and Nature Sustainability
Far Eastern New Century Corporation (FENC) officially released its first "Climate and Nature-related Financial Disclosure Report" today (October 8), comprehensively detailing the company’s strategies and concrete actions in response to climate change and nature-related risks. Centered on its “Inventing New Century” sustainability blueprint, the report adopts a science-based approach to climate and nature capital management to realize low-carbon transformation, circular economy, and ecological integration—creating a future of shared prosperity for business, society, and the environment.
As the world’s only vertically integrated polyester supplier—from upstream raw materials to downstream product applications—FENC has long been committed to climate issues and regularly publishes climate-related financial disclosures (TCFD) reports. Building on this foundation, the company is releasing, for the first time, a report that follows the Taskforce on Nature-related Financial Disclosures (TNFD) framework. It systematically identifies and discloses the company’s dependencies and impacts on natural resources, recognizes associated risks and opportunities, and lays the groundwork for scientific and transparent sustainability governance.
In terms of climate action, FENC actively supports the Paris Agreement’s 1.5°C target. The company has established a new set of low-carbon transition targets for 2030: reducing GHG emissions by 50%, incorporating 50% green raw materials, and achieving a 50% share of green products in its product mix. These goals reflect FENC’s strong commitment to achieving net-zero emissions by 2050.
On the nature capital front, FENC focuses on three key areas: water resource protection, eco-friendly processes, and sustainable raw material management. The company is also strengthening its nature governance mechanisms and advancing the development of recycled and biomass-based materials, thereby reducing dependence on natural resources and building a sustainable value chain.
From a governance perspective, FENC places the Board of Directors at the highest level of oversight for its climate and nature-related strategies. A Board-level Sustainability Committee, with an independent Board member serving as the convener, has been established to oversee material climate and nature-related initiatives—enhancing strategic alignment, driving action, and improving corporate resilience and sustainability competitiveness.
The 2024 "Climate and Nature-related Financial Disclosure Report" is now publicly available on FENC’s official sustainability website. The report discloses information on the company's governance, strategies, risk and opportunity management, metrics, and targets related to climate and nature issues. Moving forward, the company will continue to follow international standards, deepen its disclosures, and respond to the expectations of global investors, supply chain partners, and stakeholders, working together to create a resilient and responsible sustainable future.
FENC Sustainability Website: https://csr.fenc.com/index_focus.aspx?lang=en
Climate and Nature-related Financial Disclosure Report (TCFD / TNFD Report) Download:
https://csr.fenc.com/report.aspx?lang=en
