# （二）標普全球企業永續評鑑與 S\&P 500 ESG 指數

標普全球企業永續評鑑（Corporate Sustainability Assessment, CSA）為道瓊永續指數、標普全球永續年鑑和S\&P 500 ESG指數等眾多ESG指數評量的基礎，其基於「雙重重大性」的方法學除了考量「社會與環境的外部影響」以及對「企業價值的內部影響」，並設有即時反應機制，以應對突發爭議。其中企業治理與倫理幾乎是在所有產業別中，都被視為最重要的衡量項目之一，在這個層次上並進一步透過犯罪防治、反賄賂與貪腐政策、吹哨者程序等細項進行規範。<sup>6</sup>

對於企業的重大爭議或醜聞，標普全球設有兩層級的反應機制：

1. 當爭議爆發，媒體與利害關係人分析（Media and Stakeholder Analysis, MSA）機制將進行深度追蹤<sup>7</sup>，衡量衝擊嚴重性及管理層面的系統性漏洞，最終可能直接導致受評鑑企業的資格受到撤銷，或者從指數中移除。
2. 針對重大爭議，標普500 ESG指數進一步設有「快速除名（Fast Exit）」規定，即時反映在指數名單，以保護投資人權益。<sup>8</sup>

目前已有眾多案例，包括巴西國營石油巨頭Petrobrás因貪污醜聞，遭指數除名<sup>9</sup>。若台灣企業引發重大環境或社會爭議或抵觸「企業倫理」指標，亦有可能觸發MSA調查，若涉及關說、賄賂，更可能導致ESG分數顯著下降，而於每季的指數調整中被移除，甚至遭受快速除名。

{% hint style="info" %}
6\. S\&P Global ESG Scores Methodology - S\&P 500 Global, accessed June 26, 2025, <https://portal.s1.spglobal.com/survey/documents/spglobal_esg_scores_methodology.pdf>
7\. MSA\_Methodology\_Guidebook - S\&P Global 500 ESG, accessed June 26, 2025, <https://portal.s1.spglobal.com/survey/documents/MSA_Methodology_Guidebook.pdf>
8\. RepRisk provides Fast Exit feature of S\&P 500 ESG Exclusions II Index - RepRisk, accessed June 26, 2025, [https://www.forbesmiddleeast.com/industry/transport/tesla-drops-off-the-sp-500-esg-index-heres-why](<https://www.forbesmiddleeast.com/industry/transport/tesla-drops-off-the-sp-500-esg-index-heres-why&#xD;&#xA;>)
9\. Petrobras Removed from Dow Jones Sustainability Index, accessed July 2, 2025,
\
<https://agenciabrasil.ebc.com.br/en/economia/noticia/2015-03/petrobras-removed-dow-jones-sustainability-index>[
](<https://www.forbesmiddleeast.com/industry/transport/tesla-drops-off-the-sp-500-esg-index-heres-why&#xD;&#xA;>)
{% endhint %}


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