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TAIPEI, Dec. 20, 2024 /PRNewswire/ -- Far Eastern New Century Corporation (FENC), the world leading sustainable polyester supplier has been included in the Dow Jones Sustainability Indices (DJSI) Emerging Markets in December 2024. This achievement makes FENC the first and only Taiwanese industrial conglomerate to receive this distinction.
Established in 1999, the DJSI is a global benchmark for assessing Environmental, Social, and Governance (ESG) performance among companies. Compiled by S&P Global, the DJSI evaluates over 10,000 companies worldwide, selecting only the top 10% of performers. FENC's inclusion reflects its alignment with these standards and the competitiveness of the selection process.
FENC has consistently demonstrated excellence in ESG performance, empowering possibility and sustainability through strategies aligned with global sustainability trends and industry benchmarks. In addition to its inclusion in the MSCI ESG Leaders Indexes and FTSE4Good Emerging Index, FENC achieved a new milestone this year with its debut in the DJSI, reflecting its ongoing focus on sustainability and responsible business practices.
Operating across three major businesses—Production, Investment, and Property Development—FENC continues to advance its green strategy. The Company has established transformation goals for 2030, which include a 50% reduction in carbon emissions, green products constituting 50% of total production, and green raw materials comprising 50% of sourcing. In March 2023, FENC's polyester division and its subsidiary, Oriental Industries (Suzhou) Ltd., submitted their Science-Based Targets initiative (SBTi) commitment, which received approval in June 2024, marking a key step toward achieving these objectives.
FENC incorporates sustainable urban development concepts into its property development business, employing green construction techniques and materials to create eco-friendly spaces. The Taipei Far Eastern Telecom Park (Tpark) exemplifies this approach, featuring the ECO Park premium residential building equipped with green energy solutions, seismic isolation systems, and precast construction methods. Certified Silver in Green Building standards, the project generated strong market demand and is fully sold out. Looking ahead, FENC remains dedicated to innovation and sustainability, aligning with ESG principles to meet future challenges and advance its goal of achieving net-zero emissions by 2050.
Moreover, FENC continues to lead Taiwan's sustainable finance sector, pioneering the issuance of various sustainability bonds and setting a national benchmark. The Company partners with leading institutions to develop innovative financial instruments that align with its sustainability goals. Through these efforts, FENC fosters broader participation in global sustainability initiatives and contributes to creating a greener future for all.
About Far Eastern New Century (FENC)
FENC was established in 1949. It is an international company, based in Taiwan, operating in USA, Japan, Mainland China, Vietnam, Malaysia, Philippines and many other countries/regions. FENC is the only polyester supplier in the world vertically integrated to offer a product spectrum spanning from raw materials to consumer products. The company's 2023 consolidated revenues reached USD$8.3 billion with USD$22 billion in total assets.
To learn more about FENC please visit http://www.fenc.com
