FENC Achieves CDP Climate Change A-List Recognition for the First Time

Far Eastern New Century (FENC) has achieved the highest “A” rating in the latest CDP climate change assessment, marking its first inclusion among the global sustainability leaders.

CDP is a global non-profit organization established over 20 years ago. It leverages the power of investors and brand value chains to encourage companies to disclose, assess, and manage the risks and opportunities associated with climate change through systematic questionnaires. CDP’s influence spans worldwide, and its assessment results are a crucial indicator of corporate environmental performance.

FENC’s inclusion in the “A” list is attributed to its adoption of the Task Force on Climate-related Financial Disclosures (TCFD) framework and the implementation of five major strategies to reduce carbon emissions. By 2023, the company’s Scope 1 and Scope 2 GHG emissions had decreased by 25% compared to the 2020 baseline, achieving its short-term target ahead of schedule.

To align with international carbon reduction trends and enhance competitiveness in the net-zero era, FENC decided in 2024 to raise its carbon reduction targets. After formulating specific action plans at each production site and reporting to the board of directors, the new targets are a 30% reduction by 2025 and a 50% reduction by 2030.

Additionally, FENC is actively implementing low-carbon transition strategies, including the internal carbon pricing system as a management tool, to integrate low-carbon transition into business decisions, and strengthen supply chain collaboration to drive the industry towards net-zero. The company is committed to promoting green innovation and sustainable development, responding to global climate change challenges with concrete actions, and enhancing climate resilience.