메타프론티어를 이용한 ESG 경영 기업의 효율성 비교: K-ESG 가이드라인으로 산출된 TCFD를 중심으로

ESG management to reduce greenhouse gases is recognized as an important strategy for corporate management. However, studies on TCFD scores and corporate efficiency on the subject of greenhouse gases (GHG) were rare in Korea. Therefore, in this study, the level of greenhouse gas reduction implementation of 84 securities-listed companies that released sustainability management reports was evaluated using the evaluation criteria of the K-ESG guidelines. In addition, the target companies were divided into non-financial general companies, non-financial public companies, and financial companies, and the efficiency of each group was compared using a meta frontier with TCFD scores and ESG scores set as input and output variables. As a result of the study, first, the greenhouse gas implementation rate is 57%. Second, the greenhouse gas implementation rate of financial companies was 62%, which was relatively good compared to 56% of non-financial companies. Third, the order of meta-frontier efficiency under VRS was financial companies (96%), non-financial general companies (94.9%), and non-financial public companies (94%), but there was no statistically significant difference in average value. Fourth, as a cause of inefficiency, scale inefficiency was high in financial companies and pure technology inefficiency was high in non-financial companies. As a contribution point of this study, first, an approach to measure TCFD scores using K-ESG guidelines was introduced to companies. Second, the efficiency of financial companies with high TCFD scores was higher than that of non-financial companies, implying that non-financial companies should be more active in reducing greenhouse gas emissions.