Green Terminology

1. SUSTAINABILTY:

The possibility that human and other forms of life on earth will flourish forever. Corporate sustainability is the ethical, responsible management of an organization's continued success with environmental, social and financial concerns.

2. ESG:

Environmental, Social and Governance, and it represents a more stakeholder-centric approach for doing business. It is a good first step to identify the issues fit into the categories of environmental, social and governance.

3. CARBON NEUTRAL:

For a project or organisation to be carbon neutral, an equal amount of CO2 must be removed from the atmosphere for every unit of CO2 released. This may be accomplished by providing financial or other aid for initiatives aimed at removing CO2 from the atmosphere, such as the creation of renewable energy projects, planting trees, using carbon credits or carbon trading systems.

4. CARBON FOOTPRINT:

The term Carbon footprint refers to the total greenhouse gas emissions of a given person's, business's, or another entity's activity. It covers both direct emissions, such as those produced when fossil fuels are used in manufacturing, heating and transportation, in addition to indirect emissions resulting from the production of electricity used to power services and goods

5. SCOPE 1,2 & 3 EMISSIONS

Scope 1 emissions: Covers all direct emissions from owned or controlled sources, such as energy consumption, fuels, vehicles, etc.

Scope 2 emissions: Covers indirect emissions from the generation of purchased electricity, steam, heating or cooling energy consumed by the company.

Scope 3 emissions: Covers all indirect emissions that occur in the value chain of the reporting company, meaning that the emissions are out of the company’s operational control, including both upstream and downstream emissions.

6. CLIMATE CHANGE MITIGATION:

Climate Change Mitigation refers to efforts to reduce or prevent the emission of greenhouse gases. Mitigation can mean using new technologies and renewable energies, making older equipment more energy efficient, or changing management practices or consumer behaviour.

7. CLIMATE CHANGE ADAPTATION:

Climate change adaptation refers to actions that reduce the negative impact of climate change, while taking advantage of potential new opportunities. It involves adjusting policies and actions because of observed or expected changes in climate.

8. DECARBONISATION:

The process by which CO2 emissions associated with electricity, industry, and transport are reduced or eliminated.

"Consume less, consume better" can be summarised as one of the finest approaches to decarbonise.

By striving for energy efficiency when running factories, heating buildings, running our vehicles, etc. By putting a strong emphasis on a strategy that entails lowering energy usage and is geared toward achieving energy sufficiency. By utilising sources of renewable energy. Natural gas will eventually take the place of more polluting fuels like coal and oil used to produce power and heat in the short and medium term. Green gases, biogas, and hydrogen - renewable and made, for example, from organic waste - will displace natural gas in the long run. By creating methods to capture and store CO2, we can protect carbon sinks, or the naturally occurring ecosystems (such as soil, forests, etc.) that absorb carbon.

9. NET ZERO:

Also known as Net Zero Carbon, Carbon Neutral, this describes a state where any CO2 and Greenhouse Gas (GHG) emissions left over after decarbonisation are offset by negative emissions of an equivalent amount of CO2 from the atmosphere, resulting in no net GHG impact. The offsets need to actively remove carbon dioxide from the atmosphere, as opposed to only avoiding emissions elsewhere which is allowed in the specification for carbon neutral.

10. NET ZERO TARGET:

A Net-Zero Target refers to reaching net-zero carbon emissions by a selected date, but differs from zero carbon, which requires no carbon to be emitted as the key criteria. Net-zero refers to balancing the amount of emitted greenhouse gases with the equivalent emissions that are either offset or sequestered.