ESG走進製造董事會

英國商業顧問公司 FRP 最新發布的《Manufacturing Agenda》報告指出，永續發展與環境、社會及公司治理（ESG）合規，正快速躍升為製造業董事會的核心議題。該報告調查了西密德蘭（West Midlands）地區的高階製造業決策者，結果顯示，高達 29% 的受訪者預期，2026 年董事會討論將以永續與 ESG 合規為重點。

The latest "Manufacturing Agenda" report released by British business consulting firm FRP points out that sustainable development and environmental, social and corporate governance (ESG) compliance are rapidly becoming core issues for manufacturing boardrooms. The report, which surveyed senior manufacturing decision-makers in the West Midlands, revealed that a whopping 29% of respondents expect board discussions in 2026 to focus on sustainability and ESG compliance.

除 ESG 外，財務紀律依然佔據重要位置。

In addition to ESG, financial discipline remains important. About 28% of senior executives said that managing cash flow and working capital pressure will be a key challenge in the coming year; 27% pointed out that emerging regulatory risks require careful response. In addition, geopolitical uncertainty is also regarded as one of the important long-term risks facing the manufacturing industry.

約 28% 的高階主管表示，現金流與營運資金壓力管理將是未來一年關鍵挑戰；

27% 則指出，新興法規風險需要謹慎因應。

此外，地緣政治不確定性同樣被視為製造業長期面臨的重要風險之一。

The report also reviews the multiple pressures on the manufacturing industry in 2025. Respondent companies pointed out that the main difficulties in the past year included geopolitical friction or trade changes (34%), profit margin compression and sudden cost increases (32%), and the sudden loss of key orders or customers (29%). These challenges are prompting boards to adopt a more structural and forward-looking governance mindset as they plan their strategies for 2026.

報告也回顧了製造業在 2025 年所承受的多重壓力。受訪企業指出，過去一年主要困境包括地緣政治摩擦或貿易變動（34%）、利潤空間遭壓縮與突發成本上升（32%），以及關鍵訂單或客戶的突然流失（29%）。這些挑戰促使董事會在規劃 2026 年策略時，採取更具結構性與前瞻性的治理思維。

To strengthen long-term resilience, West Midlands manufacturers are planning a new wave of investment. Among them, "skills and talent development" has become the top investment item, with 41% of companies ranking it as a priority expenditure direction. This is closely followed by investments related to sustainability, ESG compliance and decarbonization (36%). FRP points out that this type of investment is no longer seen as an option, but as a necessity in response to regulatory evolution and market expectations.

為強化長期韌性，西密德蘭製造商正規劃新一波投資布局。其中，「技能與人才發展」成為首要投資項目，41% 的企業將其列為優先支出方向。緊隨其後的是永續、ESG 合規與去碳化相關投資（36%）。FRP 指出，這類投資已不再被視為選項，而是因應法規演進與市場期待的必要條件。

On the capital market side, the focus of lending institutions and investors on companies is highly consistent with that of the board of directors. 44% of investors said that if the company has problems with cost, cash flow or working capital management, it may prompt them to intervene;

41% are concerned about the progress of investment, digitalization and automation execution;

在資本市場端，放款機構與投資人對企業的關注焦點與董事會高度一致。44% 的投資人表示，若企業在成本、現金流或營運資金管理上出現問題，將可能促使其介入；41% 則關注投資、數位化與自動化執行進度；另有 37% 對領導團隊的韌性與穩定性表示關切。

and 37% are concerned about the resilience and stability of the leadership team.

FRP 伯明翰辦公室重整顧問合夥人 Raj Mittal 指出，西密德蘭製造業管理團隊正準備正面迎戰更深層的結構性挑戰。「製造業的韌性已不再僅以財務實力定義，而是取決於企業是否能辨識並主動補足能力缺口，同時即時回應不斷演進的法規要求，」他表示。

Raj Mittal, turnaround advisory partner at FRP's Birmingham office, noted that West Midlands manufacturing management teams are preparing to meet deeper structural challenges head-on. "The resilience of the manufacturing industry is no longer defined solely by financial strength, but depends on whether companies can identify and proactively fill capability gaps while responding to evolving regulatory requirements in a timely manner," he said.

Mittal 也補充，隨著企業邁入新年度，理解放款機構的觀點將變得更加關鍵。強化營運資金與現金流管理，不僅有助於改善融資條件，也將支撐製造業在不確定環境下推動更具企圖心的成長計畫。

Mittal added that as companies enter the new year, understanding lenders' perspectives will become even more critical. Strengthening working capital and cash flow management will not only help improve financing conditions, but also support the manufacturing industry in promoting more ambitious growth plans in an uncertain environment.