Circular Economy Leadership Award Presented to Fwusow Industry Co., Ltd at the Asia Responsible Enterprise Awards 2023
SINGAPORE , Sept. 14, 2023 /PRNewswire/ — The Asia Responsible Enterprise Awards (AREA) 2023 is pleased to honor 30 outstanding business leaders and enterprises for championing sustainable and responsible business practices. Presented by leading regional NGO Enterprise Asia, the AREA is the most reputable award recognition program recognizing organizational efforts in creating a culture of compassion, integrity, and in being socially responsible corporate citizens. The AREA serves as a badge of excellence to spur further innovation and best-practice sharing for organizations and the world at large.
Fwusow Industry Co., Ltd (Fwusow Industry) was among the recipients who were conferred with the Circular Economy Leadership Award. Through the practice of a circular agri-food economy system, Fwusow Industry integrates upstream and downstream resources to enhance the reuse of byproducts generated from its production processes. To reduce agricultural waste, these byproducts are utilized in the production of organic compost.
Fwusow Industry promotes organic, eco-friendly farming to ensure sustainable land use. Moreover, locally grown crops and produce are procured via contract farming to not only reduce carbon emissions from the transportation of imported raw materials but also to expand the source of raw materials, allowing for the creation of value-added products and ensuring a stable income for the farmers.
The circular agri-food economy system operates by utilizing plant residues, spent mushroom compost, food sludge, chicken manure, and microbial additives to produce organic fertilizers for the farmers. Thus, this process manages to extend the lifespan of these resources.
Additionally, locally grown crops are purchased to produce related products. Through the pet food circular loop, edible oil circular loop, livestock and poultry circular loop, and organic fertilizer circular loop, Fwusow Industry’s business diversification creates the core technology and expertise that allows for the practice of a circular economy. Furthermore, this operating model aligns with the United Nations Sustainable Development Goals (SDG) of SDG 2: Zero Hunger and SDG 12: Responsible Consumption and Production.
Fwusow Industry has managed to develop 3 low environmental impact products that are Green Mark certified by the Council of Agriculture and 11 certified organic materials; all of which are organic fertilizers to reduce and prevent soil erosion.
Besides that, the company annually collects an average of 7000-8000 tons of spent mushroom compost, chicken manure, food sludge, and bleaching clay to be processed to produce organic fertilizers. In 2022, the total amount of organic fertilizer products sold was 10,407.5 tons, which was an increase of 50.32% from 2021.
The procurement of locally grown grain crops and fresh produce was also expanded. From 2020 to 2022, the total amount of locally grown grain crops purchased was NTD468,868,000 and fresh produce reached NTD1,498,307,000.
In 2021, Fwusow Industry collaborated with Global Views Monthly’s Future Parenting Platform to publish a children’s picture book, “The Magic Journey of Food: Exploring the Countryside”. 2,000 picture books were donated to over 80 elementary schools through the recommendation of the Food and Agriculture Education Platform of the Ministry of Education.
Finally, due to the company’s reputation as an expert in the practice of circular agri-food economy, Fwusow Industry was invited to be the keynote speaker at various government events to share its concepts and achievements.
Under the Mission of “Providing Safe and Healthy Food for all” and the Vision of “Developing a Green Enterprise for a New Era of Innovation”, Fwusow Industry continues to expand the scope and replicate the model of circular agri-food economy.
Through collaborative partnerships, the connection between the upstream and downstream supply chains enhances the industry’s value chain. Fwusow Industry is committed to incorporating ESG (Environmental, Social, and Governance) into its business operations. Through different phases, Fwusow Industry will continue developing a sound operating system that promotes sustainable growth.
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation, and courage for the future generation. Please visit https://www.enterpriseasia.org for more information.
About Asia Responsible Enterprise Awards (AREA)
The Asia Responsible Enterprise Awards program recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. For more information, visit https://enterpriseasia.org/area.
SOURCE Enterprise Asia
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