Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]The Bureau of Industrial Development, the Ministry of Economic Affairs has held several industry and energy efficiency working circle committee meetings since 2021, in which relevant industries are invited to select leading manufacturers, among which Feng Hsin Steel represents the electric arc furnace steel industry.
Feng Hsin Steel was invited by the Chinese National Federation of Industries and the Taiwan Steel and Iron Industries Association to be the leading enterprise of electric arc furnace manufacturers and one of the contact windows between electric arc furnace operators and the Ministry of Economic Affairs. In addition to compiling the difficulties faced by the electric arc furnace industry (such as high cost of improvement, time-consuming EIA changes, and the number of years planned for existing equipment either in good condition or not reaching the planned scrapping and amortization) and conveying them to government agencies; the Company propagates the government's policies, guidelines and vision on emission reduction to the electric arc furnace industry through the Association, so that they can be implemented by each industry participant, so as to jointly move towards the goal of reducing greenhouse gas emissions and mitigating climate change.
On November 5, 2021, Feng Hsin Steel shared at the meeting the various promotion measures of the Net Zero Carbon Emissions Promotion Team, and took the lead in developing the path for electric arc furnace manufacturers to achieve net zero carbon emissions. The measures to achieve net zero include direct emission reduction (reduction of coke use and increase of pig iron use), indirect emission reduction (improvement of power efficiency, improvement of scrap steel quality and use of renewable energy).