台灣上市食品公司水資源永續績效評量方法之研究

Abstract

本研究旨在發展可以應用於台灣上市食品企業的環境水資源永續績效評估體系，並將上市食品公司的水資源績效表現與其財務績效作關聯性探討。通過文獻回顧和專家諮詢，以水資源永續為主要議題，構建包含3個次要議題和12個指標的評估框架，採用層級分析法(AHP)，並邀請84位專家進行問卷評估，確定各指標的權重，由此評量方式計算出企業的各個水資源績效指標分數。 3個次要議題重要性相當，這顯示專家對於台灣食品企業的水資源使用量、水資源來源和廢水排放皆非常重要。在全部12個指標中，廢水排放量現況（權重 17.38%）和廢水排放量變化（權重 17.38%）為權重最高的2個指標，顯示廢水排放在台灣食品產業環境永續發展中的核心地位。 最後透過球型統計模式將各指標分數，乘上權重後得到各企業的水資源永續績效總分。研究結果顯示各企業在水資源績效的排名以及應注重改善的指標。 本研究進一步探討水資源永續績效與企業財務績效表現之間的關係，僅初步地將企業每股盈餘、資產報酬率、淨值比與用水量和用水密集度作線性迴歸分析，分析結果顯示用水密集度與財務績效略有負相關關聯，但判斷係數不高，未來建議以更多財務績效和財務計畫做系統化的分析，或許能發現更多關聯性。 本研究為台灣上市食品企業提供了一個系統性的水資源管理績效評估框架，研究結果可為企業制定水環境管理策略、政府制定相關政策，以及投資者評估企業環境風險提供重要參考。

This study aims to develop a sustainability performance assessment system for environmental water resources, specifically tailored for publicly listed food companies in Taiwan. Additionally, the study explores the relationship between water resource performance and financial performance of these companies. Through a comprehensive literature review and expert consultations, the framework was constructed focusing on water resource sustainability, comprising three subtopics and twelve indicators. Utilizing the Analytical Hierarchy Process (AHP), 84 experts were invited to participate in a survey to determine the weight of each indicator. These weights were then used to calculate the performance scores for each water resource indicator for the companies. The three subtopics—water usage, water resource sources, and wastewater discharge—were deemed equally important by the experts, indicating that all aspects of water resource management are crucial for Taiwanese food companies. Among the twelve indicators, the current status of wastewater discharge and the changes in wastewater discharge, each with a weight of 17.38%, were identified as the most critical indicators. This highlights the central role of wastewater management in the sustainable development of the food industry in Taiwan. The spherical statistical model was employed to calculate the total sustainability performance score for water resources by multiplying the scores of each indicator by their respective weights. The results provided a ranking of the companies based on their water resource performance and highlighted areas for improvement. The study also examined the relationship between water resource sustainability performance and financial performance, conducting a preliminary linear regression analysis of earnings per share (EPS), return on assets (ROA), and price-to-book ratio (P/B) against water usage and water usage intensity. The results indicated a slight negative correlation between water usage intensity and financial performance, though the coefficient of determination was low. Future research is recommended to include a more systematic analysis of additional financial metrics and plans to uncover more significant relationships. This research provides a systematic framework for evaluating the water resource management performance of Taiwanese publicly listed food companies. The findings offer valuable insights for companies in formulating water environment management strategies, for the government in policy making, and for investors in assessing environmental risks associated with these companies.