永續報告書第三方驗證政策對企業ESG評級影響之研究

The Impact of the Sustainability Report Third-Party Verification Policy on Corporate ESG Ratings

隨著永續發展意識的提升，企業永續資訊的真實性及可靠性成為當前市場的關鍵議題。我國金管會於「公司治理3.0—永續發展藍圖」政策中推動永續報告書經第三方驗證來降低資訊不對稱程度並提升市場對企業永續資訊的信任度。
本研究結果顯示，永續報告書第三方驗證政策對於企業ESG評級的影響具有明顯的產業差異，顯示企業對政策的回應會受到其產業特性與既有永續基礎的影響，根據本研究結果，建議主管機關在未來推動相關永續政策時，必須考量各產業的背景條件與實務狀況，來採取可能的差異化設計與推動方式，制定更具精準性與針對性的政策工具，以提升政策的實質效益與可行性。同時，主管機關未來在第三方驗證機構資格審核時，可依據資本市場相應的永續發展策略評估適合的驗證機構，以強化在永續治理上的整體表現與市場信任度。

With growing awareness of sustainable development, the authenticity and reliability of corporate sustainability information has become a key issue. The Financial Supervisory Commission (FSC) of Taiwan, in its ''Corporate Governance 3.0—Sustainable Development Blueprint'' policy, is promoting third-party verification of sustainability reports to reduce information asymmetry and enhance market trust of ESG information.
This research reveals that the impact of third-party verification of sustainability reports on corporate ESG ratings varies significantly across industries, indicating that a company's response to the policy is influenced by its industry characteristics and existing sustainability foundations. Based on these findings, it is recommended that regulatory authorities consider the context and practices of each industry when promoting relevant sustainability policies, potentially adopting differentiated design and implementation approaches, and developing more precise and targeted policy tools to enhance the policy's substantive effectiveness and feasibility. Furthermore, when reviewing the qualifications of third-party verification agencies, regulatory authorities can assess suitable verification agencies based on the capital market's corresponding sustainability strategies to enhance their overall performance in sustainability governance and strengthen market trust.