The immediate next step for Nanjing Chemical Fiber (NCFC) is to formalize agreement with the auditor to initiate the third party verification audit of progress indicators in policy implementation and additional solutions proposed by the CanopyStyle initiative.
Of note, the company has mentioned to Canopy that it would be delayed in undergoing the CanopyStyle audit because it was forced to halt production and relocate one of its mills to another province due to environmental regulation enforcement.
Given growth projections in the industry, Nanjing Chemical Fiber (NCFC) should proactively screen any future ventures or new supply against the ForestMapper and aggressively build next generation solutions into their fiber projections for the coming years.