In response to the threats posed by extreme climate events, governments worldwide have enacted regulations mandating that corporations play a more proactive role in the process of carbon reduction. While recent years have seen a proliferation of literature on Corporate Social Responsibility (CSR) and carbon emissions, there is a notable lack of research examining the factors that may influence the carbon emissions of Taiwanese firms. In light of this, this study conducts a regression analysis based on the carbon emission panel data, financial indicators, and corporate information of the listed companies from 2019 to 2022 in Taiwan. The results indicate that increased personnel expenses lead to higher carbon emissions, whereas increases in employee productivity, export ratios, and foreign shareholding ratio reduce carbon emissions. Furthermore, when comparing high and low energy-consuming industries, it is found that in high energy-consuming industries, increases in revenue and the proportion of foreign individual shareholders reduce carbon emissions. Conversely, in low energy-consuming industries, increases in employee productivity and return on assets (ROA) reduce carbon emissions. The findings of this study not only provide a reference for policymakers but also serve as a strategic guide for companies experiencing carbon anxiety.
Factors Affecting Carbon Emissions of the Listed Companies in Taiwan