循環經濟和環境認證對企業碳行為之影響

本研究欲探討環境認證及循環經濟對企業揭露碳行為訊息之影響，本文以內容分析法對中國上市企業社會責任報告書、永續報告書進行編碼(coding)，樣本期間為 2011 年至 2017年，共取得 3767 筆觀察值的碳行為訊息及循環經濟揭露分數，以 Panel data 的 Tobit 迴歸分析進行假說驗證。研究結果顯示，當企業只單一取得環境認證或實行循環經濟時，對於碳行為訊息揭露為正向但不顯著及負向顯著，但當企業同時取得環境認證並實施循環經濟，對碳行為訊息揭露為正向顯著，說明企業在兩者兼備之條件下，環境意識的強度、落實節能減排的效果遠大於單一者，使企業大幅提升揭露碳行為訊息之意願，另外當企業為國有企業、敏感性產業、大規模企業、當年度稅後淨利為正皆有相同的結果。本研究之貢獻在於企業若採行環境認證及循環經濟活動時會積極傳遞有助全球氣候變遷減緩的碳行為訊息，提供利害關係人在檢視企業是否落實氣候變遷減緩的簡易指引。

關鍵字

循環經濟；環境認證；碳行為

並列摘要

In this study we explore the impact of environmental certification and circular economy on enterprises disclosure of carbon behavior information. This study coded corporate social responsibility reports and sustainability reports from chinese public listed companies during 2011-2017. We obtained 3767 observations of carbon behavior information and circular economy disclosure scores by using content analysis, and the hypotheses are conducted by the Tobit regression model. The empirical resultsindicate that when an enterprise only obtains environmental certification or implements circular economy, the disclosure of carbon behavior information is insignificantly positive and negatively significant, but when the enterprise simultaneously obtains environmental certification and implements a circular economy, the disclosure of carbon behavior information is significantly positive. It means that under the condition of both, the intensity of environmental awareness and the effect of implementing energy conservation and emission reduction are far greater than the single one, which makes the company dramatically increase its willingness to expose the information of carbon behavior. It also has identical results in state-owned companies, the larger enterprises, environment sensitive industries and profitable enterprises .The contribution of this study is that companies adopting environmental certification and circular economy activities will proactively convey carbon behavior messages which contribute to the mitigation of global climate change, and provide simple guidelines for stakeholders to check whether companies implement climate change mitigation.