Far Eastern New Century Corporation (FENC) (1402) listed its debut Sustainability-Linked Bond (SLB) on September 14 at the Taipei Exchange (TPEx), with an issuance amount of NT$2.5 billion and a five-year term. This echoes with the materiality of FENC’s sustainability strategy blueprint, linking the production and sales activities with the United Nations Sustainable Development Goals (SDGs) and selecting “reduction of GHG emissions” and “growth of green product revenue” as the Key Performance Indicators (KPIs) and Sustainability Performance Targets (SPTs) to demonstrate FENC’s ambition and determination in supporting sustainable development. The Chairman, Douglas Hsu, emphasized that as global citizens facing the threat of global warming, we should actively promote various carbon reduction actions, take the initiative to shoulder corporate social responsibility and fulfill our commitment to sustainable development.
As a global leader in circular economy model, FENC not only relies on leader’s devotion and corporate culture, but also maintains the core values of innovation, R&D as well as sustainable development, infusing new life into waste PET bottles, reducing GHG emissions and waste in the environment, protecting land and marine habitats, which have been recognized by international organizations such as the Sustainable Production Division from Directorate-General for Environment of the European Commission and the International Resource Panel at the United Nations Environment Programme. Meanwhile, FENC actively participates in capital market innovation and is committed to taking a role as pioneer in sustainable finance. FENC, up till now, is the only enterprise to be accredited and have issued four types of sustainable bonds and is also the first non-financial enterprise in Taiwan to have its sustainable bonds registered in the Sustainable Bonds Database of the International Capital Markets Association (ICMA), enhancing the presence of Taiwanese issuers in the international market. FENC will continue to implement sustainable development strategies, uphold continuous innovation, exert corporate influence from the inside out, and work together with global partners to achieve the ultimate goal of net zero carbon reduction and make a contribution to our planet.
This SLB was underwritten by the lead underwriter, Yuanta Securities, a subsidiary of Yuanta Financial Holdings. As one of the leading global entities value corporate sustainability, Yuanta Financial Holdings focuses on climate change and is determined to be a trendsetter for social and environmental practice change. In compliance with the principles of sustainable finance, and responsibility of investment and lending policies, Yuanta Securities is not only the top-ranking bond underwriter in terms of market share, but also acts an active communicator with the competent authorities during the course of promoting the sustainable development blueprint. Many entities are driven to implement sustainability and achieve goals as a result. Yuanta Securities, through introducing capital into sustainable development related financial products via market practice, works with bond issuers and investors to generate financial influence yet also strives to reduce the operational impact on the environment, thereby realizing the sustainable development goals of Yuanta Financial Holdings. (Advertorial)
SETBACK: Apple’s India iPhone push has been disrupted after Foxconn recalled hundreds of Chinese engineers, amid Beijing’s attempts to curb tech transfers Apple Inc assembly partner Hon Hai Precision Industry Co (鴻海精密), also known internationally as Foxconn Technology Group (富士康科技集團), has recalled about 300 Chinese engineers from a factory in India, the latest setback for the iPhone maker’s push to rapidly expand in the country. The extraction of Chinese workers from the factory of Yuzhan Technology (India) Private Ltd, a Hon Hai component unit, in southern Tamil Nadu state, is the second such move in a few months. The company has started flying in Taiwanese engineers to replace staff leaving, people familiar with the matter said, asking not to be named, as the
The prices of gasoline and diesel at domestic fuel stations are to rise NT$0.1 and NT$0.4 per liter this week respectively, after international crude oil prices rose last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to rise to NT$27.3, NT$28.8 and NT$30.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to rise to NT$26.2 per liter at CPC stations and NT$26 at Formosa pumps, they said. The announcements came after international crude oil prices
DOLLAR SIGNS: The central bank rejected claims that the NT dollar had appreciated 10 percentage points more than the yen or the won against the greenback The New Taiwan dollar yesterday fell for a sixth day to its weakest level in three months, driven by equity-related outflows and reactions to an economics official’s exchange rate remarks. The NT dollar slid NT$0.197, or 0.65 percent, to close at NT$30.505 per US dollar, central bank data showed. The local currency has depreciated 1.97 percent so far this month, ranking as the weakest performer among Asian currencies. Dealers attributed the retreat to foreign investors wiring capital gains and dividends abroad after taking profit in local shares. They also pointed to reports that Washington might consider taking equity stakes in chipmakers, including Taiwan Semiconductor
A German company is putting used electric vehicle batteries to new use by stacking them into fridge-size units that homes and businesses can use to store their excess solar and wind energy. This week, the company Voltfang — which means “catching volts” — opened its first industrial site in Aachen, Germany, near the Belgian and Dutch borders. With about 100 staff, Voltfang says it is the biggest facility of its kind in Europe in the budding sector of refurbishing lithium-ion batteries. Its CEO David Oudsandji hopes it would help Europe’s biggest economy ween itself off fossil fuels and increasingly rely on climate-friendly renewables. While
RSS