First Major Domestic Conglomerate to Subsidize Pur-chase (Replacement) of Electric Scooters for Employees

The motto of this campaign is "Reduce Carbon Emissions with Happy Company." To fulfill corporate social responsibility and create a high-quality living environment, Formosa Plastics Group (including FPC, Nan-ya, Formosa Chemicals & Fibre, and Formosa Petrochemical) aims to achieve carbon neutrality by 2050 and actively promotes environmental protection, social responsibility, and corporate governance (ESG) for ener-gy conservation and reduction of waste and GHG emissions. The Group became the first major domestic conglomerate to provide direct subsidies for employees' purchase (replacement) of electric scooters and work with domestic electric scooter companies to reduce carbon emissions together.

According to the statistics of the Bureau of Energy, Ministry of Economic Affairs, the carbon dioxide emissions (including indirect emissions) in Taiwan in 2020 totaled approximately 257.43 million tons and transporta-tion accounted for 14.17%. To support to the government's environmental protection policies, the Group encourages employees to consider electric scooters first if they need to purchase a scooter. This policy is intended to phase out scooters with internal combustion engines (ICE) classified based on Period 1 to 4 standards as they have a greater impact on the environ-ment.

NT$700 million subsidies for purchase (replacement) of electric scoot-ers will reduce annual carbon emissions by 9,362 tons

Citizens currently may apply for subsidies announced by the Industrial De-velopment Bureau of the Ministry of Economic Affairs, Environmental Protection Administration of the Executive Yuan, and county and city gov-ernments for the purchase of electric motorcycles. FPG offers employees an additional subsidy of NT$10,000 for new purchases and NT$16,000 for replacement purchases. Any full-time employee who has worked in a com-pany of the Group for one year is eligible for the company subsidy. FPG's maximum subsidies will total between N$$450 million and NT$720 mil-lion.

Based on the carbon emission of 0.055 kg/km for ICE motorcycles and 0.0265 kg/km for electric scooters, an average daily commute of 20km per person in Taiwan, and approximately 45,000 employees in Taiwan, the pol-icy can reduce 25.65 tons of carbon emissions per day and 9,362 tons of carbon emissions per year.

FPG actively promotes ESG to create a happy workplace

Shan-Chih Lin, General Manager of FPG, and Yen-Yang Chen, Vice Presi-dent of Operations at Gogoro gave opening speeches at the press confer-ence. Shan-Chih Lin, General Manager of FPG, stated "All FPG companies have established ESG promotion organizations and we will do our best to make contributions to the environment. Providing subsidies for employees to purchase electric scooters is one of our important policies. It helps em-ployees purchase electric scooters with ease and creates a happy work-place." Yen-Yang Chen, Vice President of Operations at Gogoro stated "The pursuit of cleaner energy has become a global effort. We are very pleased to cooperate with the top domestic manufacturer FPG. We are also building more battery exchange stations and service centers around FPG's 6th Naph-tha Cracker Complex to provide more convenient services and a brand-new riding experience for FPG employees."

To increase incentives for employees to purchase electric scooters, FPG works with domestic electric scooter companies such as Gogoro, Aeon Mo-tor, and Kymco to provide more discounts. FPG employees are eligible for discounts or 7-ELEVEN gift coupons when they present their employee ID badges to purchase vehicles.

Employees receive subsidies to cover half the sales price for the pur-chase (replacement) of electric scooters

When an employee with household registration in Taipei City purchases a heavy-duty electric scooter from a popular domestic brand with a price of approximately NT$70,000, after deducting government and company sub-sidies and the discount provided by the companies, the employee is only required to pay NT$45,500 and NT$31,200 separately for the purchase or replacement. The actual price is approximately half the price of the electric scooter.

Promoting electric scooters is the most direct and effective way to protect the environment and it also provides people with the convenience of charg-ing facilities. Therefore, FPG starts by supporting government policies and providing additional subsidies for employees' purchase of electric scooters to protect the environment and set an example for the industry. We also wish to launch an appeal to the government to establish regulatory measures to encourage people and make it mandatory for people to switch to electric scooters to improve the quality of the environment.

FPG continues to promote the circular economy, energy conservation, and carbon reduction under the premises of the sustainable development of the environment. Our efforts include plastic recycling, solar power construc-tion, green procurement and paperless projects and we seek to create sus-tainable value as a benchmark company. Let's do all we can to take care of the Earth and protect our homeland.