應用BoD模型建構企業ESG綜合指標：以臺灣食品加工產業為例

Using the BoD model to Construct the ESG Composite indicator of the Food Processing Industry

近年ESG（Environment, Social and Governance）議題漸興起成為企業永續的主流趨勢，而目前企業ESG評鑑主要仰賴評級機構，不過每間機構聚焦重點不同且計分權重係由機構專家主觀給定，評估標準也未完全揭露，導致目前ESG綜合指標的應用僅限於機構資料庫內的企業，資料庫間亦無法交互引用。因此，建構客觀的ESG綜合指標模型不僅能夠克服上述問題，同時能夠將企業的ESG多構面實踐轉化為單一綜合指標，以簡化企業間ESG的比較分析。
權重為綜合指標評估關鍵，因此將權重內生化的DEA（data envelopment analysis）方法成為建構客觀ESG綜合指標的優先選擇；不過，DEA的投入與產出變數間必須存在生產關係，但ESG子指標間並非因果關係，因此研究應用僅有產出變數的BoD（the Benefit-of-the-Doubt）模型建構ESG綜合指標，評估臺灣21家上市櫃食品加工企業的ESG表現，同時為使企業注重ESG均衡發展，研究延伸BoD模型，設定ESG各構面占綜合指標比重的上界與下界。
結果顯示，藉由模型能夠建構客觀、可驗證之ESG綜合指標，且當對權重比重添加限制後，亦能有效提升綜合指標的鑑別力。研究亦發現國內食品業者ESG實踐在環境面表現最差，於製程等尚有諸多改善空間；社會與治理面表現則相對較佳，反映相關政策規範已漸趨成熟。總體而言，臺灣食品企業應更加重視ESG各構面均衡發展，以提升其綜合表現。

ESG (Environment, Social and Governance) have gradually become the mainstream trend of corporate sustainability now. Present ESG evaluation mainly relies on rating agencies to quantify the ESG performance of companies. However, each rating agency focuses on different dimensions and the scoring weight is subjectively given by the experts of the agency, and the criteria have not been fully disclosed. Thus the current application and research of ESG composite indicators can only be limited to the database of the rating agency, and the databases can’t be cross-referenced either. Therefore, constructing an objective ESG composite indicator model can not only overcome the above-mentioned problems but simplify the comparison and analysis of ESG among enterprises bytransforming a multi-dimensional sub-indicator into a reliable single composite indicator.
Weight is important to composite indicators, so the DEA (data envelopment analysis) model that internalizes the weights is the preferred choice for constructing composite indicators. However, there must be a productive relationship between the input and output variables of the DEA model, but there’s no causal relationship between the sub-indicators of ESG composite indicators. Thus the study uses the BoD (Benefit-of-the-Doubt) model with only output variables to construct ESG composite indicators, evaluating the performance of 21 food industries in Taiwan. At the same time to make industries focus on the balanced development of ESG, the study extends the BoD model by incorporating the proportion constraints model into it.
The results show that objective and verifiable ESG composite indicators can be constructed by using the BoD model. Additionally, adding restrictions on the proportion of weights can effectively improves the discrimination of ESG composite indicators. Furthermore, the study reveals that the domestic food industry has the worst performance in the environmental dimension of ESG practice. Relatively, the social and governance dimension exhibit relatively satisfactory performance, indicating the gradual maturation of relevant policies and norms. In conclusion, enterprises should pay more attention to the balanced development of all aspects of ESG to enhance its overall performance.