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KYF joins RE100, uses green electricity, and moves towards net zero carbon emissions


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Title: King Yuan Fu joins RE100, uses green electricity, and moves towards net zero carbon emissions
Sub-standard: The first plastic container manufacturer in Taiwan joins RE100 and commits to achieve 100% renewable electricity by 2050

King Yuan Fu Packaging Co., Ltd. (here in after referred to as KYF) officially announced its participation in RE100, the international 100% renewable electricity initiative, on August 18, 2021, as the first and only plastic container manufacturer in Taiwan that passed the review and approved by RE100. KYF promises to use 100% renewable electricity by 2050 with stage goals of 60% in 2030 and 90% in 2040 respectively. By gradually moving towards net zero, KYF will do its best to achieve the goal of limiting the global warming of 1.5°C, set by Paris Agreement.

As an international vacuum/pressure thermoforming container manufacturer, KYF's mission is to "become a reliable and sustainable packaging design and production capacity provider for the global packaging industry". Its products are exported to more than 40 countries and many well-known domestic food manufacturers. In recent years, in response to climate change and solve the global plastic issue, KYF initiated a sustainable transformation. Following the United Nations Sustainable Development Goals (SDGs) as the guiding principle and combining with our core capabilities, KYF has set three pillars of sustainability:
1. Dedicate in circular economy: implement 3R-Reduce, Reuse, and Recycle. The ultimate goal is to achieve a closed loop circular economy.
2. Become a member of B Corps: strive to create positive value for different stakeholders—environment, employees, customers, communities, and governance—to be a company that treats the world the best.
3. Join RE100 in response to the SDG 13 climate action and gradually achieve 100% use of renewable electricity. Work with major companies around the world to reduce carbon emissions and slow down the global warming.

In order to achieve the RE100 commitment, there are 3 paths planed by KYF—“ Greenhous Gas (GHG) inventory development", "carbon reduction" and "green power":
1. GHG inventory development: identify emission sources including electricity that are generated by operating activities as the first step in carbon reduction.
In 2021 we got certifications of ISO 14064 (Greenhouse Gas Emission) and ISO14067 (Carbon Footprint of Product).
It is planned to introduce the ISO 50001 (Energy Management System) in 2022.
2. Carbon reduction: In view of our indirect emissions from electricity (Scope 2) is more than 90%, the first priority is to reduce the use of electricity, including improving efficiency and adopting energy-saving equipment.
3. Green power: Built solar panels in Yingge and Dongshan plant to generate electricity. Purchase Renewable Energy Certificates (REC) and Power Purchase Agreements (PPA) as multiple approaches to increase the proportion of renewable energy.

On July 7, 2021, the Intergovernmental Panel on Climate Change IPCC of the United Nations released the latest "Sixth Assessment Report (AR6)" pointing out that global temperature is expected to reach or exceed 1.5°C of warming over the next 20 years. Therefore carbon reduction is urgent; in addition, Taiwanese companies will face carbon fees or carbon border tax being applied in the business environment. KYF’s responds to RE100 not only completes our sustainable transformation, but also crucial to our competitiveness. Moreover, it’s a responsibility of being a citizen of the world. In the future, KYF will continue to devote to circular economy, implement scientific methods to reduce carbon emission, and increase investment of green power, in order to achieve the goal of 100% renewable electricity by 2050. We are moving towards net zero, and doing our part for the planet and out stakeholders.

RE100 is a global renewable energy initiative led by The Climate Group and the Carbon Disclosure Project (CDP). It brings together the most influential companies committed to 100% renewable electricity by 2050. Currently there are more than 300 members worldwide, including 10 companies headquartered in Taiwan. KYF is the 11th Taiwanese company joins the RE100.

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