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環境權保障基金會與美國地球之友（Friends of the Earth U.S.）於今日（6/10）共同發表最新報告，分析全球最大石化集團之一──台塑集團──在環境、社會與公司治理（ESG）方面的表現。報告名為《亟待課責：台塑集團的永續危機》（Unchecked and Unaccountable: The Sustainability Crisis at Formosa Plastics Group），揭露了其系統性的環境違規行為與人權問題，並對 ESG 投資框架的可信度提出了質疑。
報告指出，儘管台塑集團被納入超過 40 支 ESG 標籤基金，並獲得近 20 億美元的永續連結貸款，但卻是個環境與人權侵害「慣犯」，其所造成的問題包括 2016 年越南史上最嚴重的海洋污染事件，以及位於美國路易斯安那州、遭聯合國專家譴責為環境種族歧視的「陽光計畫」（Sunshine Project）。
環境權保障基金會企業責任與國際事務主任孫興瑄表示，「本報告直接將台塑在全球的衝擊與國際肯認的人權及環境標準相連結，揭示了一家與永續原則極度不符的企業，卻持續從 ESG 資本中受益。」
美國地球之友石化業研究員 Zoe Reyes 表示，「台塑企業向金融機構宣稱其具備永續願景，但其實際紀錄卻展現出環境違規、健康風險與治理失敗的一貫模式。從德州到台灣，台塑一再證明它是惡鄰居。如果銀行和投資人希望展現責任感，就必須對台塑企業說不。」
本報告主要調查結果包括：
- 台塑在越南、台灣與美國皆造成環境破壞、勞權侵害與人權侵害疑慮，違反《聯合國企業與人權指導原則》、國際勞工組織公約與OECD《多國企業指導綱領》；
- 氣候政策嚴重不符合全球升溫1.5度以內目標，其主要公司排放量超過 165 個國家，且未提出可信的 2050 淨零路徑；
- 公司治理風險高，結構不透明，透過集團內部股利支付掩蓋現金流赤字；
- ESG 評等機制失靈，主要 ESG 評級機構低估甚至忽略台塑持續且嚴重的違規行為。報告指出，這些評等往往依賴公司提出之自我揭露，而非實際影響。
報告亦整理了受台塑營運影響的具體案例，突顯其企業行為對現實生活的衝擊。
台塑受害者正義會創辦人暨副發言人裴南茜（Nancy Bui）表示，「台塑越南環境災難發生至今已九年，數千名受害者仍在等待正義。儘管人們經歷痛苦、流離失所與長期環境破壞，台塑與越南政府仍拒絕承擔責任，並打壓勇於發聲的人。這不僅是問責的失敗，更是對人性尊嚴的背叛。」
彰化環境保護聯盟總幹事施月英表示，「六輕設有近四百根煙囪，不斷排放有毒污染物，形成厚重污染雲，隨季風飄向鄰近村莊。研究已證實，當地居民體內重金屬與有害物質含量偏高，罹癌率也明顯上升。二十多年來，六輕的營運持續嚴重危害彰化與雲林沿海社區居民的健康與環境權利。」
這份報告也揭示了 ESG 金融體系中的更深層結構性缺陷。報告強調，當 ESG 投資建構在薄弱的基準與不充分的盡職調查上時，往往無法真正保護人們與地球。
環境權保障基金會副執行長許博任表示，「台塑看似財務穩健，但實際上，其多間子公司發放的股利金額高於自由現金流所能負擔。這些資金常在集團內部循環，透過複雜的持股架構虛增利潤，掩蓋潛藏的財務問題，這對公司治理與長期永續性構成嚴重疑慮。」
報告最後提出對金融機構與投資人、台塑企業，以及 ESG 與信評機構的具體建議，呼籲提升透明度、對齊國際準則，並排除持續造成危害的企業。
媒體聯絡人：環境權保障基金會 孫興瑄 hhsun@erf.org.tw
【中文報告下載：https://refdev.tpcuwp.com/fpg_esgreport/】
A groundbreaking new report released today offers a comprehensive Environmental, Social, and Governance (ESG) analysis of Formosa Plastics Group (FPG), one of the world’s largest petrochemical conglomerates. The report, Unchecked and Unaccountable: The Sustainability Crisis at Formosa Plastics Group, reveals systemic environmental violations and raises human rights concerns, posing urgent questions about the credibility of ESG investment frameworks.
Published by the Environmental Rights Foundation and Friends of the Earth U.S., the report finds that FPG—despite being included in over 40 ESG-labelled funds and receiving nearly US$2 billion in sustainability-linked loans—is a “serial offender” with a long track record of environmental pollution, labour violations, and governance failures. These include the 2016 marine disaster in Vietnam, described as the country’s worst industrial catastrophe, and the controversial Sunshine Project in Louisiana, condemned by UN experts as a case of environmental racism.
“This report links Formosa Plastics’ global impacts directly to international human rights and environmental norms,” said Hsin Hsuan Sun, Director of Corporate Accountability and International Affairs at Environmental Rights Foundation. “It exposes a company deeply misaligned with sustainability principles while benefitting from ESG-labelled capital.”
“Formosa Plastics Group sells itself to financiers with promises of sustainability, but its track record shows a consistent pattern of environmental violations, health risks, and governance failures,” said Zoe Reyes, Petrochemicals Researcher at Friends of the Earth U.S.. “From Texas to Taiwan, FPG has shown itself to be a bad neighbour. If banks and investors want to show that they can be responsible, then they need to say no to Formosa Plastics Group.”
Key findings include:
- Environmental harms, labour violations, and alleged human rights abuses across Vietnam, Taiwan, and the U.S., contravening standards under the UN Guiding Principles on Business and Human Rights, ILO conventions, and OECD Guidelines.
- Climate misalignment, with emissions from FPG’s main companies surpassing those of 165 countries and showing no credible path to net-zero by 2050.
- Governance risks, including opaque ownership structures and cash flow deficits masked by intra-group dividend payments.
- Failure of ESG benchmarks, with leading ESG ratings agencies understating or missing FPG’s severe and ongoing violations. The report highlights how ratings often rely on self-reported policies rather than real-world impact.
The report also features cases affected by FPG’s operations, bringing into sharp focus the real-world impact of the company’s misconduct.
“Nine years after the Formosa environmental disaster, thousands of victims are still waiting for justice. Despite the pain, displacement, and lasting environmental damage, Formosa and the Vietnamese government continue to deny responsibility while silencing those who speak out. This is not just a failure of accountability—it is a betrayal of human dignity,”
— Nancy Bui, Founder / VP of External Affairs, Justice for Formosa Victims
“The Sixth Naphtha Cracker Complex has nearly 400 chimneys that continuously emit toxic pollutants, forming thick clouds that drift with the monsoon winds into nearby villages. Studies have confirmed high levels of heavy metals and toxic substances in local residents, along with elevated cancer rates. After over 20 years of operation, the complex continues to seriously harm the health and environmental rights of communities in coastal Changhua and Yunlin.”
— Shih Yue-Ying, Executive Director, Changhua Environmental Protection Union
This case study of FPG reveals broader structural flaws in ESG finance. The report underscores how ESG-labelled investments can fail to protect people or the planet when underpinned by weak benchmarks and inadequate due diligence.
“FPG gives the appearance of financial strength, but in reality, several of its companies are paying out more in dividends than they generate in free cash flow. These payments are often recycled within the Group due to its complex ownership structure, artificially inflating reported profits and masking deeper financial weaknesses,” said Mark Hsu, Deputy CEO of Environmental Rights Foundation. “This raises serious concerns about corporate governance and long-term sustainability.”
The report concludes with detailed recommendations for financial institutions and investors, Formosa Plastics Group, and ESG and credit ratings agencies, calling for greater transparency, alignment with international standards, and exclusion of companies with persistent harmful impacts.
Media Contacts:
Hsin Hsuan Sun, Environmental Rights Foundation, hhsun@erf.org.tw
Erika Seiber, Friends of the Earth, eseiber@foe.org
【Download: https://foe.org/resources/sustainability-crisis-formosa-plastics/】[/vc_column_text][/vc_column][/vc_row]