近年來，全球因氣候變化引起的自然與人為災難不曾停止，更造成巨大損害，同時Covid_19疫情致使供應失衡下，原物料採購成本與風險明顯提高，隨著人類對環境的恣意妄為及工業化破壞與資源短缺下，如何改善環境與氣候顯然刻不容緩，永續發展亦成期待，2017年（商業與永續發展委員會，BSDC）指引出「循環經濟」應當是未來全球經濟模式的新主流；如何透過循環經濟將廢棄物循環再利用，過程中企業應如何檢視自身資源，進一步與利害關係人協作共創新的契機與價值，並在永續發展前提下更能在環境、經濟及社會帶來更多的價值。
本研究以「石安牧場」為研究個案，透過「價值共創」與「循環經濟」理論觀點的結合，作為再生綠能下價值共創脈絡的切入視角，從而深入瞭解石安牧場再生綠能的發展歷程，勾勒出石安牧場與利害關係人間如何運用各自擁有的資源與技術，及透過彼此間的互動機制，進一步統整歸納在環境(E)、社會(S)與公司治理(G)上創造及獲取的價值。
在研究結論與貢獻部分，本研究在理論上以價值共創觀點，歸納整理出循環經濟不僅只是趨勢下的選擇，透過價值共創模式，能讓企業自身永續發展之目的同時，亦能把價值延伸擴及到ESG的層面上；另一方面，在實務上，本研究亦將石安牧場以再生綠能為媒介，結合利害關係人共創價值的歷程作為實作案例，並依此提供政府規劃產業創新具體政策的典範實例；同時，希冀能給予未來欲透過循環經濟發展之企業，可供參考的運轉模式。

In recent years, the natural and mankind disasters caused by climate change have not stopped, which result in huge damage. At the same time, due to the supply imbalance caused by the Covid_19 pandemic, the cost and risk of raw material procurement have increased significantly. Under the shortage of resources, it shows the importance of urgency to improve the environment and climate, and sustainable development is also expected. In 2017 (Business and Sustainable Development Council, BSDC) pointed out that "circular economy" should be the new mainstream of the future global business model; which recycling and reuse of production waste through circular economy, as well as the re-examination within enterprises on their resources in production. Further collaboration with the stakeholders to create production opportunities and business values, thus, resulting in more benefits in the environmental, economically and society care.
This research takes "Shih An Farm" as a qualitative research case, and through the combination of the theoretical viewpoints of "value co-creation" and "circular economy", as an entry point of view of the value co-creation context under the regeneration of green energy, so as to gain an in-depth understanding of the regeneration of Shih An Farm. The development history of green energy outlines how Shih An Farm and stakeholders use their own resources and technologies, and through the interaction mechanism between both, to further integrate and summarize the value created and acquired in environmental, social and corporate governance.
In the research conclusion and contribution part, this research theoretically uses the value co-creation point of view to summarize and organise that the circular economy is not just a choice under the trend, but also through the value co-creation model, the purpose of sustainable development of the enterprise itself can be achieved, and the circular economy can also be the value extension to the ESG mode; On the other hand, in practice, this study also takes Shih An Farm as a medium of renewable green energy and the process of co-creating value with stakeholders as a practical case, and provides a typical example of the government's specific policies for industrial innovation planning; At the same time, it is hoped that it can provide a reference operation model for enterprises which prefer to develop through the circular economy in the future.

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