公司董事會性別多元化與綠色創新對碳排放量之影響

Abstract

隨著國際對氣候變遷議題的關注提升，臺灣通過《氣候變遷因應法》及「上市櫃公司永續發展行動方案」等政策，逐步加強企業揭露環境資訊與提升董事會多元性。過往研究大多著重探討董事會組成對碳排放之關聯，較少關注其他企業特徵是否會影響董事會性別多元性對碳排放的效果。因此，本研究將以臺灣上市櫃公司為研究對象，實證分析董事會性別多元性與綠色創新對碳排放量之影響。 本研究實證顯示，當年度的女性董事比例、女性執行董事比例皆對企業碳排放量未呈現顯著關係，而滯後一年的女性執行董事比例則對碳排放呈顯著負相關，顯示具決策能力的女性執行董事對企業碳排減量存在延遲影響。綠色創新對企業碳排放量的結果呈現顯著負相關，且此影響存在遞延效果，證實綠色創新為企業減碳之重要工具。進一步的調節效果分析顯示，具備綠色創新能力的公司，其女性董事比例和碳排放量呈現負相關，且此結果主要來自高碳排企業子樣本。整體而言，董事會性別多元化對企業碳排放量之影響，將受企業綠色創新程度而有所差異。

With growing global concern over climate change, Taiwan has implemented policies such as the Climate Change Response Act and the Sustainable Development Action Plan to enhance corporate environmental disclosure and board diversity. While past research has focused on how board composition affects carbon emissions, few studies have explored how other firm characteristics may influence this relationship. Using data from listed companies in Taiwan, this study examines the impact of board gender diversity and green innovation on carbon emissions. Results indicate that the current-year proportions of female directors and female executive directors are not significantly related to carbon emissions. However, the lagged proportion of female executive directors is significantly negatively associated with carbon emissions, indicating that female executive directors with decision-making power have a delayed impact on corporate carbon reduction. Green innovation is significantly associated with lower carbon emissions, with a lagged effect. Moreover, in firms with green innovation capabilities—particularly high-emission firms—a higher proportion of female directors is linked to reduced emissions. This suggests that the effect of board gender diversity on carbon emissions depends on a company’s green innovation efforts.