國際氣候融資之我國赤道原則實踐

Implementation of the Equator Principles in Taiwan’s International Climate Finance

氣候變遷為全球經濟帶來金融風險，國際氣候融資已成為國際間進行風險管理的重要機制。其中赤道原則（Equator Principles，EP）作為金融機構審核專案融資環境與社會風險的標準，被廣泛應用於全球能源轉型及綠色基礎建設之融資項目。
本文藉由觀察國際趨勢與我國實務，探討赤道原則實踐之現況：歐洲透過永續分類體系與資訊揭露規範，賦予赤道原則強制性規範的效力；美國因能源政策變動及ESG爭議，致使金融機構遵循赤道原則的承諾出現波動。台灣藉由綠色金融行動方案積極推動赤道原則之落實，惟揭露報告之資訊透明度及第三方審查機制健全方面，仍顯不足。赤道原則作為全球逾130家金融機構自願參與並共同遵循的準則，有助於建構一致性的氣候風險管理基準，從而提升永續金融治理之可預測性。惟該原則本質上屬自願性承諾，外部監督以及問責機制仍存在缺口。是以如何在經濟發展與環境永續責任間尋求平衡，為全球所面臨之共同課題。

Climate change introduces significant financial risks to the global economy, positioning International Climate Finance as a crucial mechanism for managing these international risks. The Equator Principles (EP), serving as the core standard for financial institutions to assess environmental and social risks in project finance, is widely applied across global energy transition and green infrastructure financing projects.
This paper examines the contemporary state of EP implementation through an analysis of international trends and domestic practices in Taiwan: Europe leverages its sustainable finance taxonomy and disclosure regulations, effectively granting the EP the force of mandatory compliance. Conversely, the United States exhibits volatility in financial institutions’commitment to the EP, driven by shifting energy policies and ongoing ESG disputes. While Taiwan actively promotes EP implementation via its Green Finance Action Plans, deficiencies persist concerning disclosure report transparency and the overall soundness of third-party verification mechanisms.
As a principle voluntarily endorsed and collectively followed by over 130 financial institutions worldwide, the EP helps establish a consistent climate risk management benchmark, thus enhancing the predictability of sustainable finance governance. However, the voluntary nature of the principle creates inherent gaps in external supervision and accountability. Therefore, achieving balance between economic development and environmental sustainability responsibilities remains a shared global challenge.