- Slowdown in global economic growth impacting demand for turnbuckle fasteners.
- Limited inventory depletion shrinking orders and shipments.
- Unfavorable global steel market conditions severely impacting export-oriented domestic screw industry.
- Reduced orders due to customers' slow inventory depletion.
- Increased operating costs due to carbon taxes/fees regulations and the need to purchase carbon credits.
OFCO Industrial Corporation
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, OFCO Industrial Corporation disclosed greenhouse gas emissions of 38.0K tCO2e/year. By scope: Scope 1: 350.3841 tCO2e/year; Scope 2: 7.7K tCO2e/year; Scope 3: 30.0K 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
38.0K tCO2e/year
2023
Water Usage
29.75 million liters/year
2023
Waste
471.22 tons/year
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). | 350.3841 tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 7.7K tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 30.0K 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 | 38.0K tCO2e/year |
| 2022 | 58.3K tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Updated machinery to create a 4.0 smart production line, aiming to enhance production efficiency
- Promoted energy conservation in office and replaced energy-consuming lighting fixtures with LED energy-saving ones
- Introduced TCFD to assess climate risks and opportunities and have incorporated climate change measures into the Company organizational strategies and planning
- Implemented several public welfare activities including donating to students from economically disadvantaged families and energy-saving drinking fountains to facilitate energy conservation and carbon reduction.
- Reduced total energy consumption by 31,502.66GJ in 2023 compared with 2022.
- Achieved a 72% recycling rate for non-hazardous waste in 2023.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Enhance management efficiency. Adjust market distribution to reduce operational risks.
- Energy saving rate of over 1% during the year or decrease energy intensity by 1%
- New employee retention rate 54% turnover rate 46%
📅 Medium-term
- Employee performance and bonus systems are linked to incentivize Production Unit and Sales Unit to improve product yield and enhance order quality and quantity.
- Achieve a production yield of 99% and produce products that meet international regulatory requirements.
- Establish mutually beneficial interactions with partner suppliers and customers to achieve a 3-ways-win goal.
- New employee retention rate 80%; turnover rate 20%
- The carbon intensity decreased by 20% in 2025 compared to 2021.
🔭 Long-term
- 2050 Net-Zero Emission
- Creating a workplace environment with 0 occupational injuries and 0 accidents
- FR ≤ 0; SR ≤ 0
🌱 ESG Focus Areas
EnvironmentalSocialGovernance