隨著氣候變遷與低碳轉型壓力提升，企業因應氣候風險時，除仰賴低碳技術與資本投入外，人力資源政策亦可能扮演重要角色。本研究以2016年至2024年臺灣上市、上櫃及興櫃公司為研究對象，探討人事穩定度與氣候風險之關聯，並檢驗永續委員會及財務限制之調節效果。實證結果顯示，員工穩定度與氣候風險並非單純線性關係，中等程度穩定度較有助於降低氣候風險，惟過高穩定度可能伴隨組織慣性。相較之下，高階管理階層穩定度與氣候風險呈較明確負向關聯，且主要反映於範疇一風險。進一步分析發現，永續委員會未能一致強化上述效果，而財務限制則可能削弱高階管理階層推動低碳轉型之能力。本研究指出，企業氣候風險管理除重視技術與資本外，亦應關注人力資本穩定性、治理機制與財務資源條件。

As climate change and low-carbon transition pressures continue to intensify, firms’ responses to climate risk may depend not only on low-carbon technologies and capital investment, but also on human resource policies. Using Taiwanese listed, over-the-counter, and emerging stock companies from 2016 to 2024 as the research sample, this study examines the association between personnel stability and climate risk, and further investigates the moderating effects of sustainability committees and financial constraints. The empirical results show that the relationship between employee stability and climate risk is not purely linear. A moderate level of employee stability helps reduce climate risk, whereas excessively high stability may be associated with organizational inertia. In contrast, top management team stability exhibits a clearer negative association with climate risk, particularly Scope 1 risk. Further analyses indicate that sustainability committees do not consistently strengthen the above effects, while financial constraints may weaken the ability of stable top management teams to promote low-carbon transition. This study suggests that firms should consider not only technology and capital, but also human capital stability, governance mechanisms, and financial resource conditions in climate risk management.

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