Formosa Plastics

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

Looking back, 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 ambitious climate commitments. They aim to achieve carbon neutrality by 2050 across all scopes. For the near term, the company has set targets to reduce absolute Scope 1 and 2 greenhouse gas emissions by 40% by 2030, using a 2020 base year. Additionally, they commit to reducing absolute Scope 3 greenhouse gas emissions from purchased goods and services, fuel and energy-related activities, upstream transportation and distribution, and investments by 11.1% by 2030, with a 2021 base year. These targets have been validated by the Science Based Targets initiative (SBTi) as consistent with reductions required to keep warming to well-below 2°C.

Internally, Formosa Plastics also targets a 20% reduction in Scope 1 emissions by 2025 compared to a 2020 base year, and a 20% reduction in Scope 2 emissions by 2025 against the same 2020 base year.