We are honored to announce the establishment of science-based carbon reduction targets for the year 2030, aligning with the "Paris Agreement" goal to "limit global warming to 1.5°C." With the guidance and collaboration of Crowe (TW) CPAs, we officially passed the review of the Science-Based Targets initiative(SBTi) on January 5, 2024, becoming the first SMEs in Taiwan's textile industry to set targets by the Paris Agreement.
During our collaboration with Crowe (TW) CPAs, a joint carbon reduction plan was developed and submitted for SBTi review. With the baseline year of 2018, the commitment is to reduce greenhouse gas emissions by 50% in Scope 1 and Scope 2 by the year 2030.
We are dedicated to communicating these goals through our first ESG sustainability reports by October 18, 2024, and publicly disclosing our greenhouse gas emissions inventory. We are taking concrete actions to demonstrate our determination and promote carbon reduction practices.
As our chairman stated, HOYU Textile has always been receptive to sustainable trends and green innovation in the production process and R&D of textile products. Since 2022, our innovative recycling technology, NEUCYCLE®, which involves the recycling and reprocessing of the Mingle Recycled TPU series products, received acclaim shortly after its launch. It also received the 'Innovative Technology Award' at the 2023 Taiwan Circular Economy Awards. Faced with a rapidly changing environment, we are committed to actively investing in process improvements, utilizing energy-saving measures, reducing chemical usage, and employing physical recycling techniques to continuously achieve the circular economy of composite materials. We aim to balance business development with a commitment to environmental stewardship and mutual benefit for society.
HOYU TEXTILE has been deeply rooted in Taiwan for nearly 60 years, operating as an integrated production factory for weaving, dyeing, and finishing. We have been a pioneer in green initiatives, introducing recycled PET bottles in 2004 and establishing the CYCLEPET® brand in 2007.
Our SBTi and greenhouse gas emissions will be verified under ISAE 3410 (ASSURANCE ENGAGEMENTS ON GREENHOUSE GAS STATEMENTS) by Crowe (TW) CPAs.
*Crowe (TW) CPAs is a member of Crowe Global, a Swiss Verein.