#Sustainability #Taiwan #Taipei #Far Eastern New Century #DJ Sustainability

Far Eastern New Century Takes Major Leap in Sustainability

In a groundbreaking accomplishment, the Far Eastern New Century Corporation (FENC) has made headlines as it becomes the first industrial conglomerate from Taiwan to be included in the Dow Jones Sustainability Indices (DJSI) Emerging Markets. Announced in December 2024, this recognition showcases FENC's unwavering commitment to sustainable practices and excellence in Environmental, Social, and Governance (ESG) standards.

Established in 1999, the DJSI has become a global benchmark for evaluating ESG performance among major corporations worldwide. With over 10,000 companies under review, only the top 10% are selected based on their sustainability efforts. FENC's inclusion in this elite group is a testament to its successful strategies that resonate with global sustainability trends and benchmarks.

FENC operates across several major sectors, including Production, Investment, and Property Development. The company's dedication to a sustainable future is notable; it has laid out ambitious transformation goals aiming for substantial improvements by 2030. This includes a 50% reduction in carbon emissions, the production of green products making up half of its total output, and sourcing half of its raw materials from eco-friendly origins.

Further emphasizing its commitment to sustainability, FENC's polyester division submitted its Science-Based Targets initiative (SBTi) commitment in March 2023, receiving approval in June 2024. This critical step highlights the company's relentless pursuit of environmentally responsible practices and its intention to align further with global efforts towards sustainability.

FENC's dedication doesn’t stop at production. The company integrates sustainable urban development principles in its property development projects. One prime example is the Taipei Far Eastern Telecom Park (Tpark), where strategic use of green construction materials and techniques create harmonious, eco-friendly living spaces. Not only has the Tpark earned Silver certification under Green Building standards, but it has also seen strong demand, leading to its complete sell-out.

Looking towards the future, FENC has an ambitious plan to achieve net-zero emissions by 2050. This plan is supported by a series of initiatives in sustainable finance. The corporation has taken the lead in Taiwan's sustainable finance sector, pioneering the issuance of a variety of sustainability bonds. Collaborating with leading financial institutions, FENC is developing innovative financial instruments ensuring alignment with its sustainability goals, enhancing participation in global sustainability initiatives.

Founded in 1949, FENC is a multinational company headquartered in Taiwan, with a presence in countries like the USA, Japan, and China, contributing significantly to the global polyester market. By offering a range of products from raw materials to end consumer goods, FENC stands unique as the only vertically integrated polyester supplier globally. In 2023, the company reported consolidated revenues of approximately USD $8.3 billion and total assets nearing USD $22 billion.

With the attainment of its significant milestone in DJSI, FENC continues to demonstrate not only leadership in the sustainable manufacturing sector but also sets a precedent for industries across Taiwan to follow. This achievement reaffirms the importance of businesses in responsible operations and advancing a greener future, embodying the principles of sustainability in every facet of their business operations. As FENC forges ahead, the company's innovative spirit promises a brighter, more sustainable tomorrow for both the industry and society at large.