Sustainable development policy and strategy
FPG established the direction and strategies for achieving sustainable development goals, and the clear direction and goals makes us more determined to achieve sustainable future.
Towards carbon neutrality by 2050
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FPG's carbon emissions peaked at 61.48 million tons in 2007, and was then reduced by 9.65 million tons or 15.7% to 51.83 million tons in 2020；In 2023, it further decreased to 46.94 million tons, representing a decline of 23.6%.
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Our short-term (2025) and mid-term (2030) goals are to reduce carbon emissions by 20% and 35% compared with the baseline year (2007), respectively, and our long-term goal is to achieve carbon neutrality by 2050.
Short-term, mid-term, and long-term carbon reduction paths planned by Formosa Plastics Group
To achieve sustainable development, FPG establishes directions and strategies for environmental protection (E)
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Firstly, set core concepts and a clear direction and goals to strengthen our determination to reduce carbon emissions.
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Furthermore, establish an organizational structure that unites efforts from the top down!
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Formulate and actively implement short-term, mid-term, and long-term strategies.
Short-term, mid-term, and long-term strategies for environmental protection:
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First of all, improve processes in factories, implement circular economy, and conserve energy to reduce carbon emissions. Additionally, implement advanced AI, AI+simulation, and digital transformation technologies to improve the efficiency of energy use and production.
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Continue to monitor and adopt the most advanced carbon reduction technologies from around the world when appropriate:
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Such as carbon-neutral fuel: hydrogenic energy, ammonia energy, biomass energy, carbon neutral natural gas, etc.
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Process technology improvements: such as research on COTC (Crude Oil to Chemicals) technology.
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Carbon Capture, Utilization and Storage (CCUS) technology.
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In terms of supply chain, raw materials, and equipment procurement, work with suppliers in energy conservation and recycling of waste plastic.
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Evaluation of the installation of solar power generation in the administrative residential area.
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Purchase renewable energy certificates (RECs) and carbon credits when necessary.
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Discuss adopting the SBTi methodology.
Directions and strategies of social responsibility:
FPG has dedicated years of effort to creating a friendly and happy workplace environment, in order to continue attracting and recruiting outstanding talent. FPG not only provides professional and new technology training to develop different professional skills, but also takes care of employees' well-being and health, so that all employees can be put in the right position to utilize their expertise exactly.
This is why FPG has been recognized as a "Happy Enterprise" in consecutive voting events of a job bank in 2019 and 2021.
A total of 18 departments were awarded health promotion marks and the Excellent Healthy Workplace Award in 2021, showing that we care and value our employees.
Directions and strategies for corporate governance:
FPG has always taken corporate governance very seriously for the purpose of protecting shareholders' interests. By upholding the principle of ethical corporate management, we gradually enhance competencies of the Board of Directors, proactively increase the transparency of financial and business information, continue to optimize and improve the management system, and respect the interests of all stakeholders.
Nanya Technology Corporation have been ranked in the top 5% for five consecutive years in the 10th Corporate Governance Evaluation announced in 2024. Four public companies, namely Formosa Plastics Corporation, Formosa Chemicals & Fibre Corporation, Formosa Petrochemical Corporation, and Formosa Sumco Technology Corporation, were selected as constituent stocks of the TWSE Corporate Governance 100 Index, showing that FPG's corporate governance is widely recognized. In the future, we will continue to enhance corporate governance.
