- Global economic slowdown and China's economic recovery falling short of expectations, exacerbated by low oil prices and high interest rates.
- Weak demand in downstream markets and heightened price competition due to the expansion of Chinese petrochemical capacities.
- Tariff barriers following the suspension of the Economic Cooperation Framework Agreement (ECFA) by China.
- Possibility of 'green energy inflation' due to the costly nature of carbon emission reductions.
Formosa Petrochemical Corporation
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Formosa Petrochemical Corporation disclosed greenhouse gas emissions of 24.0M tCO2e/year (Scope 1 and 2). By scope: Scope 1: 24.0M tCO2e/year; Scope 2: 423.6K tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
24.0M tCO2e/year (Scope 1 and 2)
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 24.0M tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 423.6K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 24.0M tCO2e/year (Scope 1 and 2) |
| 2022 | 51.12 million tons (2021) |
| 2021 | 173.5K tons GHG emissions reduced |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Completed 229 improvement projects aimed at emission reduction, energy conservation, and water conservation, resulting in annual emission reductions of 274 thousand tons, electricity savings of 185 million kWh, and water savings of 57 thousand tons.
- Completed 58 sustainability projects, yielding annual benefits of approximately 181 million TWD.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce water consumption by 13,900 tons per day
- Reduce CO2 emissions by 2.11 million tons
📅 Medium-term
- Reduce emissions to 2,271 tCO2e (28% reduction compared to 2007) by 2030.
🔭 Long-term
- Achieve carbon neutrality by 2050.
🌱 ESG Focus Areas
emission reductionenergy conservationwater conservationsocial responsibilitycorporate governanceclimate change