機構投資人盡職治理制度對ESG推動之影響──兼論漂綠之防制

The Influence of Shareholder Stewardship Regime on the Promotion of ESG Policy: Also Discussing on the Control of Greenwashing

公司治理之發展，由原本注重公司內部管理及股東保護，逐漸發展至重室企業社會責任，並因全球暖化議題，而進一步重視ESG與永續發展。本文探討此公司治理之發展，帶入由英國於2010年首先推出之機構投資人盡職治理守則，我國於引進此制度後之實踐情形。因政策對於ESG之重視，各國也都開始重視漂綠現象之發生及如何防制。本文也淺談漂綠現象，及規範面如何因應。各國都在摸索當中，但也開始看到其他國家有針對漂綠行為提起團體訴訟之案例。正當永續發展議題持續受各國關注之同時，我國也應持續關注此議題之發展，並提早研擬因應對策。

Corporate governance has become an important theme globally in the 21st century. It originally focused on the efficiency of internal corporate management and shareholder protection. Corporate social responsibility and the ESG gradually became important of corporate governance. This article discusses the evolution of corporate governance in Taiwan. It is followed with the discussion of shareholder stewardship regime. After the U.K. introduced the first Stewardship Code in the world, Taiwan and many other countries introduced their own shareholder stewardship regime mainly patterned after the U.K. model. It discusses how shareholder stewardship regime influences on the promotion of ESG policies. While the ESG and sustainability have become important themes globally, we also have observed the occurrence of greenwashing in many jurisdictions. This article discusses the issue of greenwashing. How to control the occurrence of greenwashing activities or behaviors will definitely become a problem that each government need to take action to deter or to punish.