本研究探討家族辦公室在永續金融發展趨勢下，如何透過投資決策、治理制度與資訊揭露實踐 ESG（環境、社會與治理）責任，並分析其實踐強度與投資績效之間的關聯。研究核心在於建立一套可量化的「家族辦公室 ESG 責任指數」，以六項指標──資產配置比例、ESG 重視程度、資訊公開程度、財務揭露程度、投資組合多元性與治理制度化程度──衡量各家族辦公室之永續實踐程度，進而比較不同群組之投資表現。

研究以公開資料為主要依據，篩選出全球二十七家具高揭露度之家族辦公室樣本，涵蓋美國、歐洲、亞洲與澳洲地區。研究方法採文件分析與敘述統計，依 ESG 責任指數高低分為「ESG 組」與「非 ESG 組」，並比較其投資績效及治理結構。結果顯示，ESG 組家族辦公室在長期報酬率與投資穩定性方面普遍優於非 ESG 組，顯示責任投資與財務績效之間具有正向關聯。

研究亦發現，資訊揭露與治理制度化為影響 ESG 成效的關鍵要素。透明度較高、制度化程度較深的家族辦公室能在市場上建立較高信任度，並展現穩定的資產配置與風險控管能力。相對地，揭露不足或決策集中的家族辦公室，即使資產規模龐大，亦難展現永續競爭力。由此可見，ESG 的核心不僅在於投資標的選擇，更在於將永續原則內化於治理與文化之中。

本研究所提出之 ESG 責任指數可作為後續研究比較與家族辦公室永續評估之參考依據，亦有助於建立實務上可操作之分析架構。未來可進一步擴大樣本範圍，納入不同地區、世代與家族治理模式，以深化對家族辦公室永續發展與財務表現之理解。

This study examines how family offices integrate Environmental, Social, and Governance （ESG） principles into their investment decisions, governance structures, and disclosure practices, and further explores the relationship between ESG implementation and investment performance. The core obective of this research is to construct a measurable Family Office ESG Responsibility Index, which evaluates the degree of sustainability engagement through six indicators.

Based on publicly available information, twenty-seven family offices with high disclosure quality were selected as the research sample, covering cases from the United States, Europe, Asia, and Australia. Using document analysis and descriptive statistics, the study categorizes the samples into ESG and non-ESG groups according to their index scores and compares their investment performance and governance characteristics. The findings indicate that family offices with higher ESG engagement tend to achieve superior long-term returns and portfolio stability, supporting the view that responsible investment and financial performance are positively associated rather than mutually exclusive.

The proposed ESG Responsibility Index provides an applicable framework for both academic research and practical evaluation, offering a basis for future comparative studies and policy discussions. Further research may expand the sample size across regions and generations to explore how family succession, governance models, and cultural values shape the sustainability transition of family offices.

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