FENC lists ‘green’ bonds on Taipei stock exchang - sportstextiles: Lea SportsTextiles

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FENC lists ‘green’ bonds on Taipei stock exchange

11/01/2018
Taiwanese textile manufacturer Far Eastern New Century (FENC) has issued NT$3 billion (more than $100 million) in ‘green’ bonds on the national over-the-counter Taipei Exchange (TPEx). 

TPEx said FENC is the first local private manufacturer to sell such bonds in the local market. The ‘green’ bonds initiative was launched in 2017 to help fund environmentally friendly products and to encourage companies to show corporate responsibility with regards to protecting the environment. 

FENC has explained that the funds raised will be used for a range of projects, including to install a second set of waterless dyeing equipment and to build on its already successful PET bottle recycling operation. 

Further money will be spent on ways to cut its production of volatile organic compounds (VOCs) and it plans to build a new ‘green’ building in Taipei’s Banqiao district, where it will carry out research and development. 

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