Formosa Plastics Group has been awarded by Ministry of Environment with「2024 Enterprises with Outstand-ing Performance in Resource Circulation」

In order to encourage the development of domestic resource reuse and circular economy at a vigorous pace, selection of "Enterprises with Outstanding Performance in Resource Circulation" has been launched annually by Ministry of Environment since 2018; with the expectation of es-tablishing role models that would drive manufacturing and service sectors to form circular chains, and reduce the resource loss caused by linear pro-duction and services to create new economic value.

Formosa Plastics Group has been a practitioner of resource circulation for many years. In 2006, the group established its own energy saving, emission reduction and circular economy promotion team that reviews Group performance regularly. It is well aware by the group that waste ma-terials of a plant might be needed in another plants as energy source or other resources; therefore, in 2016, the four major cycle aspects of raw materials, water resources, energy and waste were taken into account to promote cross-plant and cross-company resource circulation integration and reuse to achieve the benefits of energy saving, emission reduction, and efficiency improvement in energy and resource usage.

This year (2024), Formosa Plastics Group participated in the selection of "Enterprises with Outstanding Performance in Resource Circulation" or-ganized by the Ministry of Environment. 5 departments including Nan Ya Plastics' the third plastic division, Formosa Chemical & Fibre Corporation’s plastic division, Nanya Technology, Formosa Taffeta, Formosa Asahi Spandex have won the award for producing plastic pallets with recycled material, integration of plastic recycling process, establishment of electro-lytic regeneration system for copper liquid waste, developing of ecological and environmentally friendly fabrics, recycling elastic fiber yarns for re-manufacturing and improve waste reduction, respectively; Among them, Formosa Chemical & Fibre Corporation’s plastic division won the highest honor of the Gold Medal.

The Ministry of Environment presented awards and commendations on October 23. The heads of the award-winning departments of Formosa Plastics Group attended the ceremony to receive the awards, and shared their successful experiences in promoting circular economy, hoping to drive the industries in promoting a new model for developing resource cir-culation and advancement of sectors in expanding the effectiveness of re-source circulation and reuse.