本研究旨在探討企業減碳行為與員工幸福感之關係。以2021年台灣《氣候變遷因應法》修正案的提交作為外生政策衝擊，採用雙重差分模型評估環境法規對於員工幸福感的影響。實證分析顯示，2020年碳排放量高於產業平均的企業(被指定為實驗組) 在政策公佈後，員工幸福感顯著提升。證據表明，降低工傷事故風險和增加對於永續發展計畫的投資是這種改善的潛在機制。此外，員工幸福感的提升與企業價值的提升和永續發展競爭優勢的增強有關。這些發現凸顯了企業企業努力減少環境外部性所產生的正面回饋效果。

This study examines the relationship between corporate pollution reduction and employee welfare. Leveraging the 2021 submission of the amendment to Taiwan’s Climate Change Response Act as a policy shock, I employ a Difference-in-Differences framework to assess the impact of environmental regulation on worker well-being. The empirical analysis reveals that firms with carbon emissions above the industry average in 2020—designated as the treatment group—experienced a statistically significant increase in employee happiness following the policy announcement. Evidence suggests that reduced workplace accident risks and increased investment in sustainability initiatives serve as underlying mechanisms for this improvement. Furthermore, enhanced employee welfare is associated with increased corporate value and a strengthened competitive advantage in sustainability. These findings highlight the positive feedback effects of corporate efforts to reduce negative environmental externalities.