- Depressed demand and supply bottlenecks in the petrochemical industry due to global political and economic challenges (war in Ukraine, inflation, interest rate hikes, COVID-19 pandemic, energy shortage, deglobalization).
- Increased competition in the petrochemical market due to new capacity additions from peers.
- Exclusion from CPTPP and RCEP, impacting Taiwan's global competitiveness.
- Taiwan's energy shortage crisis due to the government's policy of phasing out nuclear energy.
Formosa Plastics Corporation
Greenhouse gas emissions & sustainability report data
In its 2022 reporting, Formosa Plastics Corporation disclosed greenhouse gas emissions of 8.604 million tCO2e (2021). 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
8.604 million tCO2e (2021)
2022
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2022 | 8.604 million tCO2e (2021) |
| 2020 | 4.0K tCO2e (2020) |
| 2018 | 73.8K tCO2 reduced (voluntary reduction projects) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced greenhouse gas (Scope 1 and 2) emissions by 0.4% in 2021 compared to 2020.
- Accomplished 949 improvement projects in 2022, saving 3,789 MT of water/day and reducing greenhouse gas emissions by 136K MT/year.
- Rated 'A-' in climate change and water resources assessments by CDP in 2022.
- Completed 1,104 projects in 2022 with an annual benefit of NTD 680 million in water, energy, and utility usage reduction.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce greenhouse gas emissions by 20% by 2025 (based on 2020 benchmark).
📅 Medium-term
- Reduce greenhouse gas emissions by 40% by 2030 (based on 2020 benchmark).
🔭 Long-term
- Achieve carbon neutrality by 2050.
🌱 ESG Focus Areas
Climate ChangeCircular EconomyEnergy ConservationWater ConservationOccupational SafetyHuman RightsSocial ResponsibilityCorporate Governance