Glossary
B Corporation
A certification for for-profit companies
meeting high standards of verified social and environmental performance, public
transparency, and legal accountability
Carbon Neutral
A state where the carbon emissions caused by an entity are balanced out by funding an equivalent amount of carbon savings elsewhere in the world
Circular Economy
An economic system aimed at eliminating
waste and the continual use of resources
Conference of the Parties (COP)
Annual meeting of parties to the UN
Framework Convention on Climate Change to assess progress in addressing climate change.
Corporate Sustainability Reporting Directive(CSRD)
An EU directive that requires companies to publish regular reports on their
environmental and social impact activities
Environmental, Social, and Governance (ESG)
Criteria used to evaluate a company's
performance in these areas
Greenwashing
The process of conveying a false impression or providing misleading information about how a company's products are more environmentally sound
Inflation Reduction Act
A significant piece of US climate legislation passed in 2022
International Sustainability Standards Board(ISSB)
An independent, private-sector body that
develops and approves sustainability
disclosure standards
Net Zero
A state where the amount of greenhouse
gases emitted into the atmosphere is
balanced by the amount removed
Paris Agreement
International treaty on climate change
adopted in 2015
Science Based Targets initiative (SBTi)
A collaboration that defines and promotes best practice in emissions reductions and net zero targets in line with climate science
Scope 1 Emission
Direct emissions from owned or controlled sources
Scope 2 Emissions
Indirect emissions from the generation of
purchased energy
Scope 3 Emissions
All indirect emissions (not included in scope 2) that occur in the value chain of the reporting company
Sustainable Aviation Fuel (SAF)
A type of aviation fuel that is produced from sustainable feedstocks and is very similar in its chemistry to traditional fossil jet fuel
Task Force on Climate-related FinancialDisclosures (TCFD)
An organisation that develops recommendations for more effective climate-related disclosures
Task Force on Nature-related FinancialDisclosures (TNFD)
A global initiative to develop a risk
management and disclosure framework for organisations to report and act on nature-related risks
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