範疇三溫室氣體排放之證券資訊揭露──美國法之觀察

Securities Disclosure of Scope 3 GHG Emission—Observation of U.S. Law

本文說明、介紹溫室氣體排放中之範疇三排放的概念內涵，並觀察美國2022年所公布「促進並標準化對投資人之氣候資訊揭露規則」草案之相關規定及背後理念。上開草案僅於具有重大性的範圍內，要求掛牌公司揭露範疇三排放數據，其中考量，在於避免公司藉由外包活動的方式製造溫室氣體排放不高的外觀。然範疇三排放數據之重大性如何認定、該等數據在不同公司間是否具有可比較性，又是否要就此設置責任安全港等，引起學說實務的激烈討論。我國係於公開發行公司年報應行記載事項準則中，以附表方式要求公司進行溫室氣體排放之揭露，目前僅要求範疇一及範疇二排放之揭露，未來是否、如何要求公司進行範疇三排放資訊之揭露，容有待觀察，但美國法之討論，應足資參照。

This article explains and introduces the concept of Scope 3 emission and observe the design of the SEC’s draft for“the Enhancement and Standardization of Climate-Related Disclosures for Investors”. In such draft, SEC only requires listing companies to disclosure their Scope 3 emission to the extent that it is material, to address the concern that listing companies may create the impression of low green house gas emission by outsourcing their activities to the third party. However, disclosure of Scope 3 emission is fiercely debated in the US in various aspects, such as how to determine its materiality, whether the information so disclosed is comparable among companies and whether it is necessary to provide a safe harbor for such disclosure. In Taiwan, disclosure of green house gas emission is required in the listing company’s annual report, in which only Scope 1 and Scope 2 emissions are mandatory and disclosure of Scope 3 emission is voluntary. Whether and how to require listing companies to disclose their Scope 3 emission remains to be seen, but the US experience can servce as a useful reference.