In the era of global low-carbon
transformation, corporate management of carbon emissions, environmental
performance disclosures, and water resource utilization have become critical
focal points for capital markets. This study investigates the relationship
between the stock returns of Taiwanese semiconductor companies and variables
such as total carbon emissions, TESG scores, corporate water consumption, and
corporate social responsibility (CSR) during 2016–2022. Specifically, the study
evaluates the influence of these factors in the context of international
sustainability trends and Taiwan’s mandatory carbon inventory policies. The
findings reveal significant negative effects of total carbon emissions and
corporate water consumption on stock returns, whereas TESG scores exhibit a
positive correlation with stock returns. By integrating these elements, the
study provides a comprehensive understanding of how environmental
sustainability influences financial performance within the semiconductor
sector. These insights underscore the importance of corporate environmental
efforts in enhancing both sustainability and competitiveness.
