This broad term encompasses strategies and practices aimed at meeting the needs of the present without compromising the ability of future generations to meet their own needs. It integrates economic, environmental, and social considerations in decision-making and actions.
Greenhouse gas (GHG) emissions refer to gases that trap heat in the atmosphere, contributing to the greenhouse effect. The primary greenhouse gases include carbon dioxide, methane, nitrous oxide, and fluorinated gases. These gases enter the atmosphere through various human activities such as burning fossil fuels, industrial processes, and agricultural practices. Their ability to impact climate change depends on their abundance, lifespan in the atmosphere, and how effectively they trap heat.
The greenhouse effect is a natural process where greenhouse gases in Earth's atmosphere trap heat, keeping the planet warm enough to sustain life. Human activities, especially burning fossil fuels and deforestation, have increased concentrations of these greenhouse gases, leading to more heat being trapped and contributing to global warming.
The total amount of greenhouse gases (including carbon dioxide and methane) that are generated by our actions. Carbon footprints are usually expressed in tonnes of CO2e (carbon dioxide equivalent), a metric that equates the impact of different greenhouse gases to the equivalent amount of CO2, based on their global warming potential. This comprehensive approach allows for a standardized assessment of emissions from various sources, enabling effective strategies for reduction and offsetting.
These categories break down GHG emissions based on their source and degree of control by the reporting entity.
Net-zero refers to the balance between the amount of greenhouse gas emissions produced and the amount removed from the atmosphere. Achieving net-zero means that a company, sector, or country effectively adds no greenhouse gas emissions to the atmosphere. Carbon neutrality is a similar concept but refers only to a balance between the carbon emissions produced and removed. Achieving either usually requires carbon offsetting or carbon capture and storage efforts.
Carbon offsetting involves investing in environmental projects that reduce greenhouse gas emissions to balance out one's own carbon footprint. These projects can range from reforestation to renewable energy initiatives.
Carbon capture and storage (CCS) is a technology aimed at capturing carbon dioxide emissions from sources like power plants and storing it, often underground, to prevent it from entering the atmosphere.
CSR refers to a business model in which companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. It goes beyond compliance and engages in actions that further social good, beyond the interests of the firm and that which is required by law.
ESG criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. Environmental criteria consider how a company performs as a steward of nature. Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. Governance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights.
This concept expands the traditional reporting framework to include ecological and social performance in addition to financial performance. The triple bottom line consists of 'People, Planet, and Profit' and encourages companies to focus on the full scope of their impact.
At its core, the circular economy is a transformative approach designed to address pressing global challenges like climate change and biodiversity loss by fundamentally rethinking the way we produce, consume, and dispose of goods. It's built on three key principles: eliminating waste and pollution, circulating products and materials at their highest value, and regenerating nature.
This term refers to energy derived from sources that naturally replenish on a human timescale, such as wind, solar, and hydropower. Unlike fossil fuels, which are finite and contribute to greenhouse gas emissions, renewable energy sources are sustainable over the long term, providing a critical solution to reducing our carbon footprint and combating climate change.
Biodiversity encompasses the variety and variability of life on Earth crucial for ecosystem resilience and human survival. It's under threat from activities that degrade habitats, such as deforestation, pollution, and climate change. Preserving biodiversity is essential for maintaining ecosystem services that we rely on, such as pollination, water purification, and climate regulation.
LCA is a methodology used to evaluate the environmental impacts associated with all the stages of a product's life, from raw material extraction through materials processing, manufacture, distribution, use, repair and maintenance, and disposal or recycling. By understanding the full lifecycle impacts, businesses and consumers can make more informed decisions that reduce their environmental footprint.
This term describes the practice of companies giving a misleading impression of their environmental efforts or benefits. It's a critical concept in sustainability, highlighting the need for transparency and accountability in environmental claims.
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