Far Eastern New Century Corporation (FENC) was presented with 8 awards for its outstanding sustainable performance at the award ceremony for the Global Corporate Sustainability Award (GCSA) and Taiwan Corporate Sustainability Awards (TCSA), which was held yesterday (11/16). FENC received the “Top 10 Taiwanese Companies Sustainability Model Award” and the “Sustainability Report Award – Platinum Award,” in both of which the Company was ranked first in traditional manufacturing. The other awards include 4 best sustainability practice awards from TCSA, one best practice award from GCSA, and the “Sustainability Reporting – Silver Class” award from GCSA. Furthermore, Chairman Douglas Tong Hsu was honored with the “Corporate Sustainability Lifetime Achievement Award,” which is the highest recognition of his sustainability leadership in FEG.
FENC has a long-time commitment to devote in its sustainable development, and the result has helped the Company once again to win the “Top 10 Taiwanese Companies Sustainability Model Award,” the highest honor from TCSA. In terms of corporate governance, FENC was ranked in the top 5% in Corporate Governance Evaluation for TWSE/TPEx for 4 consecutive years; FENC has also launched 8 sustainable financial products ahead of others in Taiwan or Asia, providing the momentums for long-term sustainability. In environmental sustainability, FENC, as the leader in the global recycled polyester industry, promoted the circular economy with its core capabilities and has built a successful sustainable business model. In the aspect of social inclusion, FENC attached importance to talent development and dedicated itself to non-profit and charitable causes. With the raging COVID-19 pandemic and the restrictions it has imposed on the world, FENC strived to maintain employees’ peace of mind at workplaces.
FENC deployed all-encompassing circular technology, mitigating environmental impact by turning land, ocean, and air waste into renewable resources. Every year, FENC reduces at least 20 billion PET bottles and has thus won the “Circular Economy Leadership Award” 6 consecutive times. Players of 7 teams in the FIFA World Cup Qatar 2022 will be wearing jerseys made by FENC from ocean waste plastic. FENC has further developed new circular applications by extending its reach to industrial emissions which is turned into low-carbon polyester material with carbon capture and utilization (CCU) technology. This made FENC the winner of the “Accelerated Eco Best Practice Product Award” from ISPO Textrends, the “Sustainability & Innovation Award” from ITMF, the “Growth through Innovation Leadership Award” from TCSA, and the “Best Practice Award – World Class – Great Practice” from GCSA.
FENC was also accredited with the “Climate Leadership Award” by formulating 5 major strategies to fulfill net zero by 2050, with a short-term target of 20% reduction and a mid-term target of 40% reduction. The rPET-manufacturing plant, located in Japan, took the lead to reach net zero this year, which is the first in the global recycled PET industry.
FENC values employee rights and keeps expanding the breadth and depth of talent development, with 91% of employees being proud of the company. The outstanding performance in talent development has earned FENC the “People Development Leadership Award” five consecutive times.
FENC is committed to the balanced and sustainable development of corporate governance, environmental sustainability, and social inclusion