Far Eastern New Century (FENC), a global leader in recycled polyester production, is committed to a sustainable future. The company has set ambitious transformation goals for 2030, demonstrating its dedication to environmental responsibility. These goals include:
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Reducing carbon emissions by 50%
: FENC is taking proactive steps to mitigate its environmental impact by significantly decreasing its carbon footprint.*
Green products making up 50% of total production
: FENC is actively developing and promoting eco-friendly products, signifying its commitment to environmentally conscious manufacturing.*
Green raw materials comprising 50% of procurement
: FENC is prioritizing the sourcing of sustainable materials, contributing to a greener supply chain.In response to global warming and the carbon reduction movement, FENC’s Polyester Business defined its greenhouse gas emission reduction path in July 2024 through the Science Based Targets initiative (SBTi). These goals, aligned with the Paris Agreement’s 1.5°C trajectory to limit the effects of climate change and keep global temperature rise below 1.5 degrees Celsius, demonstrate FENC’s commitment to achieving net-zero emissions by 2050.
FENC is actively working towards achieving net-zero emissions by implementing five key carbon reduction strategies:
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Increasing energy efficiency
: FENC is optimizing its operations to minimize energy consumption and reduce emissions.*
Transitioning to low-carbon fuels
: FENC is exploring and adopting alternative fuels with lower carbon footprints.*
Developing renewable energy
: FENC is investing in renewable energy sources, such as solar and wind power, to reduce reliance on fossil fuels.*
Deploying carbon capture, utilization, and storage (CCUS) technologies
: FENC is exploring advanced technologies to capture and store carbon emissions, minimizing their impact on the environment.*
Transforming raw material usage
: FENC is continuously innovating its manufacturing processes to utilize more sustainable and recycled materials.In 2023, the company’s production activities saw a 25% decrease in total Scope 1 and Scope 2 greenhouse gas emissions compared to the baseline year of 2020. FENC consistently leverages its core competencies to develop innovative recycling technologies for diverse waste streams from land, sea, and air. For instance, the company produces high-quality tire cord from used PET bottles. Not only does FENC supply this product to the renowned German brand Continental Tire, but it also collaborates with other international tire manufacturers.
In 2023, FENC’s recycled ocean-resistant sweaters once again took center stage at international sporting events, including the UEFA Champions League and the Women’s World Cup. FENC’s eco-friendly fabrics combine advanced technology with fashionable design and are made with waste gas recycling technology. The company has garnered prestigious awards for its textiles, including the Red Dot Design Award and the iF Design Award.
FENC continues to deploy groundbreaking technologies for a growing number of products, including chemical textile recycling technology, which is poised for imminent market launch, ready to reap promising future business successes. FENC’s green products, including recycled polyester, energy-saving PET resin, and more, generated revenue of 47.7 billion New Taiwan dollars in 2023. This represents a 4% increase from the previous year, marking an all-time high and accounting for 33% of the company’s production activities’ revenue.
FENC is ranked among the top 1.5% of the global chemical industry according to Sustainalytics’ ESG risk rating. For three consecutive years, FENC has emerged victorious against other Asian companies in its industry, being named ‘Most Honored Company’ by Institutional Investor Magazine and ‘Best Managed Company’ by FinanceAsia.
About Far Eastern New Century (FENC)
FENC was established in 1949. FENC is an international company, headquartered in Taiwan, with operations in the United States, Japan, China, Vietnam, Malaysia, the Philippines, and many other countries and regions. FENC is the only polyester supplier globally that is vertically integrated, with a product offering that spans from raw materials to consumer products.
For more information about FENC, please visit http://www.fenc.com
