Formosa Plastics

Formosa Plastics, a Chemicals nec company based in Taiwan, reported total emissions of approximately 19.85 billion kg CO2e in 2023. This includes Scope 1 emissions of approximately 3.54 billion kg CO2e, Scope 2 emissions of about 4.46 billion kg CO2e, and Scope 3 emissions of roughly 11.85 billion kg CO2e.

Looking at previous years, their total emissions were about 19.24 billion kg CO2e in 2022, 19.05 billion kg CO2e in 2021, and 19.97 billion kg CO2e in 2020.

Formosa Plastics has set several climate commitments. The company aims to achieve carbon neutrality by 2050 across all scopes. For near-term targets, Formosa Plastics has committed to a 20% reduction in Scope 1 emissions by 2025, using 2020 as the baseline year. Similarly, they target a 20% reduction in Scope 2 emissions by 2025, also from a 2020 baseline.

The company's Science Based Targets initiative (SBTi) commitments include reducing absolute Scope 1 and 2 GHG emissions by 40% by 2030 from a 2020 base year. Additionally, Formosa Plastics is committed to reducing absolute Scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, upstream transportation and distribution, and investments by 11.1% by 2030, using a 2021 base year. These SBTi targets are classified as consistent with reductions required to keep warming to well-below 2°C.