Energy Efficiency, GHG Emissions, Industrial  -  September 5, 2024

Far Eastern New Century Sets 2030 Goals

Far Eastern New Century (FENC), a global manufacturer in recycled polyester production, established sustainability 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 its sourcing.

In response to global warming and the carbon reduction movement, FENC Polyester Business has passed the Science Based Targets initiative (SBTi) for its GHG emissions reduction pathway in July 2024, according to a statement. 

FENC is diligently working toward achieving net zero by implementing five major carbon reduction strategies: improving energy efficiency; transitioning to low-carbon fuels; developing renewable energy; utilizing carbon capture, utilization, and storage (CCUS) technologies; and transforming raw material usage.

In 2023, the total of Scope 1 and 2 GHG emissions from the company's production business decreased by 25% compared to a baseline year of 2020.

The company ranks in the top 1.5% of the global chemical industry according to Sustainalytics' ESG risk rating.