Advancing Sustainability: Development of an ESG Evaluation Framework for Taiwan's Science Parks

Journal Title: Challenges in Sustainability - Year 2024, Vol 12, Issue 4

Abstract

Research on Taiwan's science parks has frequently concentrated on isolated aspects, often neglecting the interplay between diverse indicators and the multifaceted dynamics influencing the development of these parks. Additionally, existing applications of environmental, social, and governance (ESG) frameworks in science parks have been found to inadequately capture the complexity of their performance metrics. This study aims to establish a comprehensive ESG evaluation framework tailored to the unique characteristics of Taiwan's science parks. Through the integration of the Fuzzy Delphi Method (FDM) and cluster analysis, a classification system was developed, demonstrating operational feasibility. The proposed evaluation framework is structured around two primary dimensions-Environmental Resource Management and Socioeconomic Resilience-encompassing ten critical indicators. Findings indicate that indicators under the Environmental Resource Management dimension, including water resource utilization, air quality management, greenhouse gas (GHG) emissions, renewable energy adoption, and waste management, exert the most significant impact on the sustainable development of science parks. In contrast, indicators under the Socioeconomic Resilience dimension, such as transportation planning, labour rights protection, public facility services, and financial sustainability, are deemed moderately influential yet essential to fostering balanced development. Indicators related to high-tech talent cultivation and gender equality in decision-making were determined to have limited relevance to the immediate operational needs of science parks. Consequently, it is suggested that these indicators be excluded from resource allocation priorities in resource-constrained settings. Emphasis is placed on prioritizing investments in the Environmental Resource Management dimension to ensure sustainability and compliance with global environmental standards. Additional resources, if available, should be allocated based on the specific contextual needs of individual science parks. The proposed framework not only provides actionable insights into resource allocation strategies but also establishes a robust, comparable basis for evaluating the ESG performance of science parks in Taiwan and beyond. By addressing the interdependencies among critical indicators, the framework enhances the capacity of science parks to contribute to sustainable industrial development.

Authors and Affiliations

Hao-Wei Chang, Yi-Li Lin, Wann-Ming Wey

Keywords

Related Articles

Interlinkages Between Environmental Quality, Economic Growth, and Human Capital in Indonesia: Implications for Sustainable Development Policies

This study investigates the complex interrelationships between environmental quality, economic growth, and human capital across 34 provinces in Indonesia from 2017 to 2023, employing a vector autoregression (VAR) approac...

Mapping Power Dynamics in Local Climate Action: Policy Networks in the Climate Village Program of Pekanbaru City, Riau

The complex challenges of addressing climate change at the local level necessitate a nuanced understanding of the policy networks that shape climate governance. This study investigates the policy network surrounding the...

The Effects of Economic Cycle Shocks on Polluting Emissions in Developing Countries: Insights from a Panel Vector Autoregression Analysis

This study explores the dynamic relationship between polluting emissions and economic cycle shocks in developing countries using a panel vector autoregressive (PVAR) framework. Recognizing the limitations of prior models...

Temporal Dynamics of PCDD/F and PCB Concentrations in Ambient Air Near a Medical Waste Incineration Facility in Johannesburg

An extensive assessment of ambient air quality near a medical waste incineration (MWI) facility in Johannesburg, South Africa, was conducted, focusing on the gas-particle phase partitioning and the concentrations of poly...

Sustainability Evaluation of Regency Development in Peatland Areas of Riau Province, Indonesia

The sustainable development of peatland ecosystems is imperative due to their susceptibility to climate change. This study evaluates the sustainability of regency development in the peatland areas of Riau Province, Indon...

Download PDF file
  • EP ID EP754046
  • DOI -
  • Views 27
  • Downloads 0

How To Cite

Hao-Wei Chang, Yi-Li Lin, Wann-Ming Wey (2024). Advancing Sustainability: Development of an ESG Evaluation Framework for Taiwan's Science Parks. Challenges in Sustainability, 12(4), -. https://europub.co.uk/articles/-A-754046