永續報告書作為當代企業資訊揭露制度之一環，其功能已由形象宣示轉向市場透明、公共問責與氣候治理之基礎工具。對國營事業而言，真實、完整且可驗證之永續揭露，更是維持社會信賴、落實公共任務與回應國家永續發展政策之必要條件。期望本文之研究，能對我國國營事業永續報告書揭露不實之責任判斷與制度設計提供初步分析基礎，並作為未來修法、監理實務及後續研究之參考。;In recent years， corporate sustainability disclosure has evolved from early voluntary corporate social responsibility reporting to a more institutionalized disclosure with higher standards， comparability， and verifiability. With the establishment of international standards such as GRI， TCFD， and ISSB， and the advancement of EU sustainability disclosure legislation， sustainability reports are no longer merely about corporate image building or self-regulatory initiatives， but have gradually become an important basis for stakeholders to assess corporate governance， environmental performance， social responsibility， and climate risk. Our country has also gradually made sustainability disclosure mandatory and institutionalized through policies of the Financial Supervisory Commission， stock exchange operating procedures， and the sustainability reporting system for listed companies. However， when sustainability reports contain false statements， material omissions， misleading representations， or greenwashing， how current law should determine their untruthfulness， materiality， and legal liability remains a significant issue with considerable room for interpretation and institutional gaps.
State-owned enterprises hold a special position in our country′s economic development， energy supply， public services， and policy implementation. Besides maintaining the operational efficiency of ordinary enterprises， they also undertake public tasks， policy objectives， and social accountability functions. Compared to private enterprises， the information disclosed in the sustainability reports of state-owned enterprises not only influences the judgments of investors or market participants， but may also affect the trust of consumers， regulatory authorities， legislative bodies， and society as a whole in national policies and public services. Therefore， if a state-owned enterprise′s sustainability report contains false disclosures， its legal evaluation should not be viewed solely as an ESG disclosure issue for general enterprises， but should be further analyzed in conjunction with the public nature， policy-oriented tasks， and state control structure of state-owned enterprises.
This article aims to explore the legal issues of false disclosures in the sustainability reports of our country′s state-owned enterprises， and to clarify the prerequisites for establishing liability and directions for institutional improvement. First， this article will start with the concepts of sustainability information， sustainability reports， and non-financial disclosures， explaining the significance of materiality， truthfulness， completeness， and verifiability in the sustainability disclosure law， and explaining the definition， causes， and types of greenwashing. Second， this article analyzes the development of sustainability information disclosure laws in GRI， TCFD， ISSB， and the EU as a comparative basis for understanding our country′s institutional construction. Furthermore， this paper focuses on state-owned enterprises as defined in the *State-Owned Enterprise Management Act*， examining the disclosure practices of sustainability reports by state-owned enterprises such as Taiwan Power Company， CPC Corporation， and Taiwan Tobacco & Alcohol Corporation. Using cases involving CPC Corporation and Taiwan Sugar Corporation as examples， it examines the gap between formal disclosure and substantive transparency in sustainability reports， the criteria for judging materiality， the inadequacy of the sustainability award selection mechanism， and the loopholes in the current legal oversight of state-owned enterprises. Finally， this paper comprehensively reviews the shortcomings of our country′s current legal system from the perspectives of civil liability， administrative liability， criminal liability， the liability of directors and senior managers， and the liability of third-party verification institutions， and proposes amendments and institutional recommendations.
As part of the contemporary corporate information disclosure system， the function of sustainability reports has shifted from image promotion to a fundamental tool for market transparency， public accountability， and climate governance. For state-owned enterprises， truthful， complete， and verifiable sustainability disclosure is essential for maintaining social trust， fulfilling public responsibilities， and responding to national sustainable development policies. This study aims to provide a preliminary analytical foundation for determining liability and designing a system for addressing inaccurate disclosures in the sustainability reports of state-owned enterprises in our country， and to serve as a reference for future legislative amendments， supervisory practices， and subsequent research.
