Foxconn chairman Young Liu made a commitment of achieving net-zero carbon emissions by 2050 at the Hon Hai Technology Day event and requires more than 10,000 supply chain partners to raise their ESG standards in accordance with the international caliber.
To achieve the goal, Foxconn has established an executionable roadmap and its carbon reduction goal has been validated by Science-based Target Initiatives (SBTi) in April 2023.
"Foxconn will increase the percentage of renewable energy consumption to 50%," said Liu. "To ensure sufficient green energy supplies for the Group and related supply chains, Foxconn will launch more similar and larger green energy projects on a global scale."
Meanwhile, in terms of circular economy, Liu said Foxconn already has set the recycling percentage goals for plastic materials and the intensity of water resource recycling within the group, which is on schedule in accordance with its 2025 objectives. He said despite the fact Foxconn's business ranges across 100 cities around the world, their commitment to ESG is consistent.
Liu said Foxconn not only will comply with the highest standards set by its customers, but it has also established a rigorous code of conduct and responsibility standards, asking its 10,000 suppliers to raise their bars of ESG standards together. Foxconn will help the supply chain partners obtain validations for no waste to landfills and conduct carbon footprint verifications in the supply chain and has required all suppliers to pledge to use 100% of renewable energies to produce products for Foxconn.
