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2023-09-05
YFY Inc. (1907) announces the collaboration with its subsidiaries Chung Hwa Pulp Corp. (1905), YFY Packaging Inc., and YFY Consumer Products Co., Ltd. (6790), to join the RE100 initiative led by Climate Group and established in partnership with CDP. YFY Inc. has set ambitious goals, targeting 60% renewable electricity usage by 2030, 80% by 2035, and ultimately achieving the RE100 milestone by 2040.
YFY stated that the key differentiator of the papermaking industry lies in its circular economy approach. This circular process facilitates the development of a renewable energy cycle. It involves converting process residues into alternative fuels for power generation and utilizing anaerobic systems in water circulation treatment to produce biogas for electricity generation. This makes it a unique and self-sustaining circular model in the manufacturing sector.
Notably, Chung Hwa Pulp Corp. leads the way by establishing the only and the largest lignin-based biomass power generation system in Taiwan at its Hualien plant. The company has obtained green energy certificates, contributing a substantial 150 million kWh of green energy certificates annually, further supporting other industries in their green and net-zero objectives.
Sam Kimmins, Director of Energy at Climate Group said: “We are delighted to welcome YFY to RE100. By committing to 100% renewable electricity by 2040, YFY joins over 400 of the world’s leading businesses committed to driving market change. YFY is also the first pulp and paper company in the worldwide membership base. This sends a powerful message that renewable electricity makes good business sense, and we encourage others to follow”.
YFY has set the goal of reducing carbon emissions by 30% in 2030 compared to 2018, and achieving net-zero emissions by 2050. The carbon reduction plan involves actively deploying renewable energy sources, implementation of ISO 50001 energy management systems, solar energy installations, equipment upgrades, waste heat recovery, and various energy efficiency projects.
Over the past three years, YFY’s energy-saving projects have cumulatively saved a total of 45,424,868 kWh, resulting in a reduction of approximately 23,783 metric tons of carbon dioxide equivalent.
In 2022, YFY's three business groups achieved a total biomass energy and alternative fuel substitution rate of 36.2%, while the substitution rate in Taiwan alone reached 43.4%. In terms of greenhouse gas emissions, there was a 14% reduction compared to 2021 in Scope 1 for Taiwan, equivalent to about 197,495 metric tons of carbon dioxide equivalent.
RE100 brings together the world's most influential businesses committed to 100% renewable electricity. Currently, the initiative has around 400 member companies spanning diverse industries worldwide, with YFY Inc. proudly standing as the first representative from the global paper industry. Expanding on its circular economy foundation, YFY will further harness digital technology to optimize energy generation and management, ultimately achieving a low-carbon and sustainable future.
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About RE100
RE100 is a global initiative bringing together the world’s most influential businesses committed to 100% renewable electricity. Led by Climate Group, our mission is to drive change towards 100% renewable grids, both through the direct investments of our members, and by working with policymakers to accelerate the transition to a clean economy. RE100 was established in partnership with CDP. The initiative has over 400 members, ranging from household brands to critical infrastructure and heavy industry suppliers. With a total revenue of over US$6.6 trillion, our members represent 1.5% of global electricity consumption, an annual electricity demand higher than that of the UK.