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Climate change sustainability
& carbon markets
Adaptation
Adaptation is the process of adjusting to new conditions or circumstances to better survive and thrive. In the context of carbon accounting, adaptation refers to the strategies and actions taken by organisations and individuals to reduce their carbon footprint and minimise the impacts of climate change on their operations.
#Carbonfootprint
Additionality
Additionality refers to the carbon offset benefits that would not occur without carbon financing. For instance, a project claiming to “save” a forest that was not genuinely under threat lacks additionality, as its outcomes would have occurred regardless of external funding.
Afforestation
Afforestation is the process of planting trees in areas where no previous tree cover existed. This practice serves multiple purposes, such as restoring ecosystems, improving air and water quality, and combating climate change by capturing carbon dioxide in trees. Companies may use afforestation as a strategy to offset their greenhouse gas emissions. For example, a business with high emissions might plant trees to absorb carbon, helping to meet carbon reduction targets while contributing to global climate action efforts.
Air pollution/emission
Air pollution refers to gaseous and particulate substances released into the atmosphere by human activities, including production, consumption, and accumulation processes.
Air Quality Index (AQI)
The Air Quality Index (AQI) measures the concentration of harmful pollutants in the air, indicated on a scale from 0 to 500. It denotes the quality of breathable air, alerting about potential health risks associated with exposure to high levels of pollutants.
Anthropogenic
Anthropogenic refers to effects caused or influenced by human activities. Often used in environmental contexts, this term highlights human-induced impacts, such as pollution, deforestation, and climate change.
Base Year
A Base Year in carbon accounting serves as the reference point for measuring and tracking carbon emissions. It marks the starting year against which future emissions reductions and carbon footprints are compared. For instance, if a company sets 2019 as its base year, it will measure emissions from 2019 onward, comparing current levels to those of the base year to assess progress. This benchmark is crucial for setting carbon reduction targets and monitoring progress, often supported by carbon management platforms.
Baseline Emissions Baseline Emissions represent the quantity of greenhouse gas emissions that would occur without the implementation of a carbon credit project.
Biochar
Biochar is a stable, porous form of charcoal created through pyrolysis, a process that heats organic matter in the absence of oxygen. Biochar is used for various purposes, including improving soil quality, filtering water, and acting as a carbon sequestration tool due to its ability to store carbon for extended periods.
Biofuel
Biofuel is a renewable fuel derived from organic materials such as plant matter or animal waste. It is considered more sustainable and environmentally friendly than fossil fuels since it can be sourced from renewable inputs and reduces greenhouse gas emissions. For example, companies like Biofuels Corporation produce biodiesel from waste vegetable oil collected from restaurants for use in vehicles.
Blue Carbon
Blue Carbon refers to the carbon captured and stored by coastal and marine ecosystems, including tidal marshes, seagrass beds, and mangrove forests. These ecosystems are vital in the global carbon cycle due to their significant carbon sequestration capacity. For instance, mangrove forests can store up to five times more carbon per unit area than tropical forests, making their restoration a key strategy for enhancing carbon capture.
Blue Hydrogen
Blue Hydrogen is produced from natural gas through steam reforming, a process that combines natural gas with steam. While hydrogen is the main output, carbon dioxide is also generated as a by-product, which can be managed or captured to reduce emissions.
Business Responsibility and Sustainability Reporting (BRSR)
Business Responsibility and Sustainability Reporting (BRSR) is a mandatory disclosure framework for listed entities in India, introduced by the Securities and Exchange Board of India (SEBI) in 2012. The BRSR framework promotes sustainable business practices by requiring companies to report on their environmental, social, and governance (ESG) performance, ensuring greater transparency and accountability in corporate sustainability efforts.
#BRSR #ESG
CO₂ Mineralisation
CO₂ Mineralisation is a carbon removal process where atmospheric carbon dioxide is converted into a stable, solid mineral. This occurs naturally when certain rocks interact with CO₂, but technology can now speed up the process. Once mineralised, the CO₂ is permanently removed from the atmosphere.
Cap and Trade
Cap and Trade is a market-based approach to controlling greenhouse gas emissions. Governments or organisations set emission caps and issue tradable allowances, each representing one metric ton of CO₂ emissions. Entities exceeding their caps can purchase additional allowances, incentivising overall emission reductions.
#Carbonmarkets #Carbontrading
Carbon
Carbon is a shorthand term used to describe the presence of carbon dioxide (CO₂) and other greenhouse gases (GHGs) in the atmosphere. These gases include methane (CH₄), nitrous oxide (N₂O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulphur hexafluoride (SF₆), and nitrogen trifluoride (NF₃), all of which contribute to global warming.
Carbon Border Adjustment Mechanism (CBAM)
The Carbon Border Adjustment Mechanism (CBAM) is a proposed policy that taxes imported goods based on their carbon emissions. By levelling the playing field for domestic producers and incentivising cleaner production methods globally, CBAM aims to reduce emissions and support sustainable manufacturing.
Carbon Capture, Usage and Storage (CCUS)
Carbon Capture, Usage, and Storage (CCUS) involves capturing carbon dioxide (CO₂) emissions from industrial activities and either repurposing it for useful applications or securely storing it underground. CCUS is a critical technology for reducing emissions and mitigating climate change.
#decarbonization
Carbon Credit Trading Scheme (CCTS)
India’s Carbon Credit Trading Scheme (CCTS) is a groundbreaking initiative established under the Energy Conservation (Amendment) Bill, 2022. It empowers the government to create a domestic carbon trading market, encouraging industries to reduce emissions through a market-based mechanism.
#Carbonmarkets #Carbontrading
Carbon Disclosure Project (CDP)
The Carbon Disclosure Project (CDP) is a nonprofit organisation that provides a standardised platform for companies and cities to disclose data on greenhouse gas emissions and climate strategies. CDP promotes transparency and helps entities track and manage their carbon footprints effectively.
#GHG
Carbon Accounting
Carbon accounting is the process of measuring, tracking, and reporting greenhouse gas emissions from an organisation’s activities. This includes calculating emissions from energy use, transportation, and waste management to assess environmental impact and identify reduction opportunities.
#carbonfootprint
Carbon Budget
A carbon budget represents the maximum amount of carbon dioxide that can be emitted within a specified timeframe while keeping global warming within safe limits. It is a critical tool for governments and organisations to set emission reduction targets and develop sustainable strategies.
Carbon Capture and Storage (CCS)
Carbon Capture and Storage (CCS) is a technology designed to capture carbon dioxide (CO₂) emissions from sources like power plants and industrial facilities. The captured CO₂ is then stored underground or in secure locations, preventing it from entering the atmosphere and contributing to climate change.
Carbon Credit
A carbon credit represents one metric ton of greenhouse gas emissions avoided, reduced, or sequestered through specific projects. Carbon credits, often interchangeable with carbon offsets, allow organisations to offset their emissions by supporting certified reduction projects.
#carbonoffset #carboncredit
Carbon dioxide Equivalent (CO2e)
Carbon dioxide Equivalent (CO₂e) is a standardised measure used to compare the global warming potential of different greenhouse gases. By converting emissions into an equivalent amount of CO₂ based on their warming potential, CO₂e allows for more accurate quantification and understanding of their impact on climate change.
Carbon Farming
Carbon Farming, or carbon sequestration, is an agricultural approach that enhances the land’s ability to store carbon while reducing greenhouse gas emissions. Practices include no-till farming, grazing management, and comprehensive farm management plans, resulting in healthier soils, reduced erosion, and carbon offset generation.
#carbonsequestration #carbonoffset
Carbon Footprint
Carbon Footprint is the total greenhouse gas emissions, measured in CO₂e, produced by an individual, organisation, or activity over a specific period. It includes emissions from energy consumption, transportation, and waste generation.
#GHGemissions
Carbon Leakage
Carbon leakage occurs when efforts to reduce greenhouse gas emissions in one country or region lead to an increase in emissions elsewhere. This typically happens when industries relocate to areas with less stringent environmental regulations, undermining global climate action efforts.
#risingemissions #climatecontrol
Carbon Market
A carbon market refers to the buying and selling of greenhouse gas (GHG) emissions worldwide. It consists of two submarkets:
#Carbonmarkets #Carbontrading
Carbon Negative
Carbon Negative refers to a process or situation where the amount of carbon dioxide removed from the atmosphere exceeds the amount released. This can be achieved through actions such as reforestation or carbon capture technologies. Carbon-negative practices are crucial in mitigating climate change and reducing the greenhouse effect.
#carbonoffset #carbonsequestration
Carbon Neutrality/Carbon-neutral
Carbon Neutrality, or being carbon-neutral, means having a net-zero carbon footprint. This occurs when the amount of CO2 released into the atmosphere is balanced by the amount absorbed or offset through initiatives like renewable energy use, carbon offset projects, or environmental conservation. Achieving carbon neutrality is essential in combating climate change and reducing the negative impacts of human activities.
#carbonneutral #netzero
Carbon Offsetting
Carbon offsetting is a method of compensating for GHG emissions by investing in projects that reduce or eliminate carbon emissions, such as renewable energy or reforestation. This practice helps counterbalance the adverse effects of greenhouse gases, contributing to the reduction of global warming.
#carbonoffset
Carbon Permit
A carbon permit grants its holder the right to emit a specific amount of carbon dioxide or other greenhouse gases. This permits businesses to pollute up to a set limit.
Carbon Positive
Carbon positive refers to a state where an individual or organisation has a net positive impact on the environment by reducing or offsetting more carbon emissions than they produce. This is achieved through energy efficiency, renewable energy, and investment in carbon offset projects. A carbon-positive entity actively works to reduce climate change impacts.
#carbonfootprint #carbonremoval #carbonsequestration
Carbon Sequestration
Carbon sequestration is the process of capturing and storing carbon dioxide (CO2) from the atmosphere, typically through vegetation, soils, or geological formations. This practice significantly reduces the amount of CO2 in the atmosphere and helps mitigate climate change.
#carbonsequestration #carboncapture
Carbon Sink
A carbon sink is a natural or artificial system that absorbs and stores CO2 from the atmosphere, helping to reduce the effects of greenhouse gas emissions. Natural carbon sinks include forests, oceans, and soils, while artificial sinks involve carbon capture and storage technologies.
#carbonsequestration
Carbon Target
A Carbon Target is a device or material made from carbon or a carbon-based compound, often used in scientific or industrial processes such as sputtering or ion beam deposition. These targets are known for their durability and high conductivity, making them ideal for applications that require thin films or coatings.
Carbon Tax
Carbon Tax is a levy imposed on the emission of carbon dioxide and other greenhouse gases. Its purpose is to encourage businesses and individuals to reduce their emissions by increasing the cost of polluting activities.
Certification of Carbon Credits
Certification of Carbon Credits is the process by which a third-party organisation verifies that a certain amount of GHG emissions have been reduced or offset through a specific project. Certification ensures that carbon credits are legitimate and generated through verified emission reduction activities, adding transparency and trust to the carbon credit market.Clean Development Mechanism (CDM)
The Clean Development Mechanism, established under the Kyoto Protocol, allows countries to meet emissions reduction targets by purchasing carbon credits that fund sustainable development projects in developing countries.
Clean Hydrogen
Clean Hydrogen refers to hydrogen produced in environmentally friendly ways. Green Hydrogen is produced via electrolysis powered by renewable energy sources, while Blue Hydrogen is produced from natural gas combined with carbon capture and storage (CCS) technology.
#hydrogen
Climate Neutral
Climate Neutral refers to achieving a balance between carbon emissions and offsets, resulting in a net-zero carbon footprint.
#netzero #carbonneutral
Climate Change
Climate change refers to long-term changes in global or regional weather patterns, largely driven by human activities such as burning fossil fuels and deforestation, which release greenhouse gases like carbon dioxide into the atmosphere.
#fossilfuels #ghgemissions
Climate Contribution
Climate contribution refers to the impact of a specific activity or action on the climate. For example, burning fossil fuels releases CO2 into the atmosphere, contributing to global warming and climate change. Another example of a climate contribution is deforestation, which reduces the amount of CO2 that is absorbed from the atmosphere.
#globalwarming #deforestation
Climate Investment
Climate Investment involves allocating financial resources to initiatives and projects aimed at reducing GHG emissions, adapting to climate change, and supporting the transition to a low-carbon economy. These investments often include renewable energy, energy efficiency, and climate-resilient infrastructure.
Co-benefits
Co-benefits are the economic, social, and environmental advantages resulting from a policy or action designed to address climate change.
Compensation
In carbon management, compensation refers to providing financial or other forms of support to individuals or organisations affected by climate change, such as those impacted by extreme weather events or loss of livelihoods.
Compliance Market
Compliance Market refers to a regulatory framework established by governments and multinational agreements to cap the amount of greenhouse gases businesses can emit. Companies that emit less than their allotted limit can sell their unused permits to those exceeding their allowances in a cap-and-trade system. This market is also known as the ‘Regulatory Market’.
#carbonmarkets #carboncredit
Conference of the Parties (COP)
The Conference of the Parties (COP) is an annual international climate meeting organised by the United Nations, where 197 countries that joined the UN Framework Convention on Climate Change (UNFCCC) in 1994, gather to take voluntary actions on climate change.
Corporate Carbon Footprint
Corporate Carbon Footprint is the total amount of GHG emissions generated by a company’s operations and supply chain, including emissions from energy use, transportation, and waste management.
#carbonfootprint #ghgemission
Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) refers to a business’ commitment to positively impacting society and the environment. This often involves participating in the voluntary carbon market to offset emissions and other environmentally responsible practices.
Corporate Sustainability Due Diligence
Corporate Sustainability Due Diligence is the process of assessing a company’s environmental, social, and governance (ESG) practices to identify risks and opportunities for improving sustainability. This includes analysing GHG emissions, waste reduction efforts, labour practices, and diversity and inclusion.
#ESG #carbonremoval
Corporate Sustainability Reporting Directive (CSRD)
The Corporate Sustainability Reporting Directive (CSRD) is an EU directive requiring large companies and public-interest entities to disclose their ESG performance in annual financial reports. The goal of the CSRD is to improve transparency, accountability, and sustainability practices among companies.
#EUETS
Corporate Sustainability
Corporate sustainability is the practice of running a business that meets present economic, social, and environmental needs without compromising future generations’ ability to meet their own. It involves being responsible for the company’s impact on the environment, employees, communities, and long-term financial success.
Decarbonisation
Decarbonisation is the process of reducing carbon emissions in the atmosphere. It involves transitioning from fossil fuels and other sources of greenhouse gases to cleaner, renewable energy sources. This shift is essential for mitigating climate change and achieving long-term environmental sustainability.
#decarbonization #carbonremoval
Degradation
Degradation refers to the decline in the capacity of environmental assets to deliver ecosystem services. This loss of capacity can result from the actions of economic units, such as households, and affects the environment’s ability to provide essential functions like air and water purification, soil fertility, and climate regulation.
Depletion
Depletion is the reduction in the quantity of a natural resource over a period due to extraction by economic units at a rate greater than its rate of regeneration. This often applies to non-renewable resources like fossil fuels, minerals, and water.
Direct Air Capture (DAC)
Direct Air Capture (DAC) is a technology that captures carbon dioxide (CO2) directly from the atmosphere. Using large fans, air is drawn in and passed through filters and chemical processes to concentrate and capture the CO2. The captured CO2 can be stored or used for various purposes, such as producing synthetic fuels. DAC is considered a promising solution for reducing atmospheric CO2 levels and combating climate change.
#carbonsequestration
Direct Emissions
Direct emissions are greenhouse gases (GHGs) emitted directly into the atmosphere from a business’ operations. For example, CO2 emissions from burning fossil fuels for energy or transportation are considered direct emissions. These emissions are under the direct control of the company and are a key factor in its carbon footprint.
Double Counting
Double Counting in carbon accounting occurs when the same emissions are reported multiple times in different accounting systems or frameworks. This can happen if emissions are measured differently by organisations, or if emissions are counted in multiple jurisdictions. Double counting leads to inaccuracies in emissions data and can hinder effective carbon management and reduction efforts.
#carbonaccounting #carboncalculator #ghgemissions
Downstream Emissions
Downstream Emissions refer to the release of greenhouse gases or other pollutants during the use, disposal, or end-of-life stages of a product or service. These emissions occur after the product has been sold and are not directly related to its production. Examples include emissions from vehicles’ fuel combustion, electronic waste disposal, or energy consumption by household appliances.
Eco-Mark:
The Government of India has established the Eco-Mark scheme to label environment-friendly products. Issued by the Bureau of Indian Standards (BIS), the Eco-Mark certification signifies that a product meets the ecological safety standards set by the BIS.
#carboncertification
Emission Reduction Ton (ERT)
An Emission Reduction Ton (ERT) represents the reduction or removal of one metric tonne of carbon dioxide equivalent (CO2e) from the atmosphere.
Emission Factor
Emission Factor is a numerical value used to estimate the amount of a particular pollutant released from a specific source. It is typically expressed as the quantity of pollutants emitted per unit of activity, such as grams of pollutant per unit of fuel burned or pounds of pollutant per mile travelled. Emission factors help calculate emissions from various sources, like power plants or vehicles, and can vary depending on the pollutant type and source.
Emissions
Emissions refer to the release of gases, particulate matter, and other substances into the atmosphere. These emissions can have adverse effects on both the environment and human health.
Emissions Obligation
Emissions Obligation refers to the total amount of CO2 emissions a company is permitted to release annually under a regulatory system, such as the California cap-and-trade program.
Emissions Rights
Emissions Rights are allowances or permits granted to a company or individual, permitting them to release a specific amount of greenhouse gases into the atmosphere. These rights are typically allocated by governments or regulatory bodies as part of an overall emissions reduction strategy. For example, under the European Union’s cap-and-trade system, companies receive emissions rights based on their size and industry. If a company exceeds its allocation, it must purchase additional allowances from other companies with surplus rights.
#carbonpermit #carbonmarkets #carbontrading
Energy Mix
An Energy Mix is the combination of different energy sources used to meet the energy demands of a region or country. This can include fossil fuels like coal and natural gas, renewable sources such as wind and solar, and other sources like nuclear and hydroelectric power. The energy mix is determined by the availability, cost, and policy priorities of each region or country.
Environmental Assets
Environmental assets are the natural living and non-living components of the Earth that together form the biophysical environment. These assets provide valuable benefits to humanity, such as clean air, water, and biodiversity.
ESG
ESG stands for Environmental, Social, and Governance factors, which are key criteria used to evaluate a company’s sustainability and ethical impact. Environmental factors include energy consumption and water usage; Social factors include talent attraction and supply chain management; and Governance factors cover areas like board composition and remuneration policies. ESG is the foundation of various sustainable investment approaches.
ESG Reporting
ESG Reporting refers to the practice of publicly disclosing information related to a company’s Environmental, Social, and Governance (ESG) practices. This allows investors and stakeholders to assess a company’s sustainability performance and identify potential risks and opportunities. ESG reports typically cover areas such as carbon emissions, labour practices, human rights policies, and corporate governance structures.
#ESG #carbonfootprint
EU Emission Trading Scheme (EU ETS)
The EU Emission Trading Scheme (EU ETS) is the world’s largest cap-and-trade program, covering approximately 45% of the European Union’s greenhouse gas emissions. Launched in 2005, it includes emissions from heavy industry, electricity generation, and aircraft within the EU.
Extreme Weather Events
Extreme weather events are unexpected and unusually severe weather patterns, often linked to climate change. These can include heatwaves, cold spells, floods, and hurricanes that exceed historical norms. Examples include the 2021 Western North America heatwave that set record-high temperatures in Canada, and the February 2021 cold wave in Texas. Evidence suggests that climate change may be increasing both the frequency and intensity of such extreme weather events.
Fossil fuels are energy sources formed from the remains of ancient plants and animals that lived millions of years ago. These include coal, oil, and natural gas, which are extracted from the earth and burned to produce electricity or heat. Fossil fuels are considered non-renewable because their formation takes millions of years, and they are being consumed more quickly than they can be replenished. Burning fossil fuels releases greenhouse gases into the atmosphere, contributing to climate change.
Fugitive Emissions
Fugitive Emissions are the unintentional or accidental release of gases or vapours into the atmosphere from various sources, such as industrial processes, leaks in pipelines or storage tanks, and evaporation from liquids. These emissions can contribute to air pollution and the release of greenhouse gases, and they are subject to regulation under environmental laws and policies.
Futures Carbon Market
The Futures Carbon Market is a marketplace where carbon credits are bought and sold based on future delivery contracts. This allows participants to hedge against price fluctuations in the carbon market and plan for future emissions reductions.
#carbonmarkets #carbontrading
Global Surface Temperature
Global Surface Temperature refers to the average temperature of the Earth’s surface, calculated by measuring temperatures at various locations worldwide. It is a key indicator for understanding and predicting climate change, as changes in global surface temperature can impact weather patterns, sea levels, and other factors that affect the Earth’s climate.
Global Sustainability Agenda
The Global Sustainability Agenda represents the collective efforts of nations, organisations, and individuals working toward achieving the Sustainable Development Goals (SDGs) and creating a sustainable future for the planet.
Global Warming Potential (GWP)
Global Warming Potential (GWP) is a measure of the heat-trapping potential of different greenhouse gases. It compares the amount of heat absorbed by a particular gas to that absorbed by a reference gas, typically carbon dioxide, over a specified period. GWP is expressed in carbon dioxide equivalent (CO2e), which enables comparison of different gases in terms of their global warming potential. For example, methane has a GWP of 28-36 over 100 years, meaning one ton of methane has the same heat-trapping potential as 28-36 tons of carbon dioxide over the same period. GWP is crucial for understanding and mitigating climate change, as it helps identify the most significant greenhouse gases and guides emission-reduction strategies.
Global Warming
Global warming refers to the gradual increase in the Earth’s overall temperature, primarily caused by higher levels of greenhouse gases due to human activities such as burning fossil fuels and deforestation. This phenomenon has been linked to more frequent and severe heatwaves, droughts, natural disasters, the melting of polar ice caps, and rising sea levels, all of which threaten the planet’s climate systems.
Gold Standard
The Gold Standard is a certification standard for carbon offset projects in countries that do not have emission reduction targets under the Kyoto Protocol. It ensures that offset projects deliver high-quality environmental and social benefits.
Gold Standard Verified Carbon Standard (GS VER)
The Gold Standard Verified Carbon Standard (GS VER) is a non-governmental certification scheme for emission reduction projects. It participates in initiatives like the Clean Development Mechanism (CDM) and the Voluntary Carbon Market, supporting climate and development efforts.
Green Credits Program (GCP):
The Green Credits Program, launched by the Environment Ministry of India, aims to create market-based incentives for various environmentally positive actions, not just carbon emission reductions.
#carbonmarkets #India
Green Bond
A Green Bond is a financial debt instrument specifically tied to green and climate-friendly assets or projects, aimed at funding environmental initiatives.
Green Finance
Green Finance refers to financial activities that promote environmental sustainability. It encompasses not only climate finance but also broader environmental goals and risks, with a focus on mobilising private investment to support environmentally sustainable projects.
Greenhouse Gas (GHG) Protocol
The Greenhouse Gas Protocol (GHG Protocol) is a globally recognised framework for measuring, managing, and reducing greenhouse gas emissions. Developed by the World Resources Institute and the World Business Council for Sustainable Development, the GHG Protocol provides guidance for businesses, governments, and other organisations to assess their carbon footprint and manage emissions.
#GHGprotocol #carbonstandard
Greenhouse Gas (GHG) Trading
Greenhouse Gas (GHG) Trading involves the buying and selling of carbon credits or emission allowances in carbon markets to manage and offset greenhouse gas emissions.
Greenhouse Gas (GHG)
Greenhouse gases (GHGs) include carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), and sulphur hexafluoride (SF6). Some programs also include nitrogen trifluoride (NF3).
Greenhouse Gas Effect
The greenhouse gas effect occurs when greenhouse gases in the Earth’s atmosphere trap heat, preventing it from escaping into space, thereby warming the planet.
Greenhouse Gas Registry
Greenhouse Gas Registry is a public platform that recognises businesses for reporting third-party verified greenhouse gas inventories and for reducing their emissions.
Green Hydrogen Green Hydrogen is produced through the electrolysis of water, using electricity derived from renewable sources, such as wind or solar power. #hydrogen
Greenwashing Greenwashing is the practice of making misleading or false claims about the environmental benefits of a product, service, or company to appear more environmentally responsible or gain a competitive advantage. This often involves vague terms like “green” or “eco-friendly” without substantiating evidence.
Grey Hydrogen
Grey Hydrogen is produced from natural gas or methane using steam methane reforming, without capturing the greenhouse gases emitted in the process. It is the most common form of hydrogen production but does not include carbon capture and storage.
#hydrogen
GRI
GRI stands for the Global Reporting Initiative, an international organisation that develops sustainability reporting standards to ensure sustainability and transparency in business practices. These guidelines enable businesses to disclose information on their environmental, social, and economic performance, helping stakeholders make more informed decisions.
#carbonstandards
Guarantees of Origin (GO)
Guarantees of Origin (GOs) are certificates required by the European Union for member states to disclose the share of their electricity consumption generated from renewable energy sources.
Hydrogen
Hydrogen is the simplest and most abundant element in the universe, consisting of a positively charged nucleus (proton) and a negatively charged electron. With the lowest atomic weight of any element, hydrogen is a colourless, odourless gas under standard conditions.
#hydrogen
Indian Green Building Council (IGBC)
The Indian Green Building Council (IGBC), part of the Confederation of Indian Industry (CII), was established in 2001 with the mission to foster a sustainable built environment. The IGBC Pre-certification is awarded to projects based on the green measures incorporated during the design phase.
Indirect Emissions
Indirect Emissions are greenhouse gases released because of activities or processes that are not directly controlled by an individual or organisation. These emissions typically occur in the supply chain, such as during the production of goods, electricity generation for factory operations, transportation, or waste disposal.
#ghgemissions
Intergovernmental Panel on Climate Change (IPCC)
The Intergovernmental Panel on Climate Change (IPCC) is an international body of climate scientists and experts formed by the United Nations in 1988. It conducts periodic assessments of the latest scientific research on climate change and provides comprehensive scientific assessments on climate change, its impacts, and potential future risks. The IPCC synthesises global research and offers policy advice but does not conduct its own research.
Kyoto Protocol
The Kyoto Protocol, established by the United Nations in 1997, set binding carbon emission reduction targets for participating nations. Notably, the United States did not ratify the protocol.
Land Use Change (LUC)
Land Use Change refers to changes in how land is utilised or managed. For example, deforestation in the Amazon has transformed the region from a major carbon sink to a carbon emitter, intensifying climate change.
Leadership in Energy and Environmental Design (LEED)
Leadership in Energy and Environmental Design (LEED) is a globally recognised rating system that evaluates the sustainability of buildings at all stages—from construction to operation. LEED certification recognises buildings that meet high environmental performance standards. However, LEED is not directly related to GHG emissions or the carbon market.
Life Cycle Assessment (LCA)
Life Cycle Assessment (LCA) is a method used to evaluate the environmental impact of a product or service throughout its entire lifecycle. This includes all stages from raw material extraction to end-of-life disposal or recycling, assessing energy use, materials, emissions, and waste. LCA aims to identify areas for environmental improvement.
Loss and Damage
Loss and Damage refer to the unavoidable social, economic, and environmental impacts caused by extreme weather events and climate change, which cannot be mitigated or adapted to. While the concept is recognised globally, there is no universally accepted definition, as noted by UNDP.
Low Carbon Fuel Standard (LCFS)
The Low Carbon Fuel Standard (LCFS) is a policy implemented in California to reduce the carbon intensity of transportation fuels. It encourages the replacement of gasoline and diesel with alternative fuels, such as ethanol, biodiesel, renewable diesel, compressed natural gas, or biogas. LCFS credits differ from carbon credits.
Low Carbon Label
A Low Carbon Label is a certification or mark indicating that a product or service has been produced with minimal carbon emissions. This could involve the use of renewable energy, energy efficiency measures, or sustainable materials. Low-carbon labels help consumers make environmentally responsible purchasing decisions.
Mitigation
In the context of carbon management, mitigation refers to actions or strategies aimed at reducing or preventing the release of carbon dioxide (CO2) and other greenhouse gases into the atmosphere. These efforts are essential for slowing or halting climate change, which is largely driven by the increase in greenhouse gas levels.
Nationally Determined Contributions (NDC)
Under the Paris Agreement, each country is required to outline its commitments, known as Nationally Determined Contributions (NDCs), to reduce national emissions and adapt to the climate crisis.
Nature-based Solutions
Nature-based solutions involve utilising natural systems—such as forests, wetlands, and coastal ecosystems—to address environmental challenges like climate change, natural disasters, and habitat loss. For example, reforestation is a nature-based solution that helps absorb carbon dioxide, mitigates climate change, and provides additional benefits such as improved air and water quality, wildlife habitats, and recreational spaces.
Net-Zero
Net-Zero refers to a situation where a company or country’s greenhouse gas emissions are balanced by the amount of carbon dioxide removed from the atmosphere. Although often used interchangeably with “carbon neutral,” net-zero encompasses broader climate impacts, including other greenhouse gases.
#carbonneutral #netzero
Net-Zero Journey
The Net-Zero Journey in carbon accounting refers to the process of reducing and offsetting carbon emissions to achieve net-zero carbon emissions. This involves setting reduction targets, implementing strategies, and using carbon sinks or other mechanisms to offset any remaining emissions, with regular monitoring and reporting of progress.
#carbonneutral #netzero
Non-Financial Reporting Directive (NFRD)
The Non-Financial Reporting Directive (NFRD) is a European Union regulation requiring large public-interest entities to disclose information on environmental, social, and governance (ESG) factors. It applies to companies with more than 500 employees, as well as large banks, insurance companies, and asset managers. The NFRD aims to increase transparency and help investors better understand ESG-related risks and opportunities.
#ESG
Over-the-Counter (OTC) Carbon Market
The OTC Carbon Market is a marketplace where carbon credits are traded directly between buyers and sellers, without the need for a centralised exchange.
#carbonmarkets #carbontrading #carboncredit
Paris-Aligned
Paris-Aligned refers to actions and policies that support the goals of the Paris Climate Agreement. This includes reducing greenhouse gas emissions, increasing renewable energy usage, and implementing adaptation strategies to combat climate change. Efforts aligned with the Paris Agreement aim to limit global warming to well below 2°C above pre-industrial levels.
#parisclimateagreement
Paris Climate Agreement
Adopted in 2015 by the United Nations Framework Convention on Climate Change (UNFCCC), the Paris Climate Agreement is a legally binding international treaty. Its primary goal is to limit global warming to well below 2°C above pre-industrial levels by reducing greenhouse gas emissions. The agreement also encourages climate adaptation and financial support for developing countries to transition to renewable energy and reduce their emissions.
Pathway
A pathway is a model scenario for climate change based on current scientific understanding. For example, the 1.5°C pathway, outlined by the Intergovernmental Panel on Climate Change, estimates a 50-66% chance that global warming will remain at or below 1.5°C by 2100, requiring global emissions to be cut by 7.6% annually. Achieving this would require halving emissions by 2030 and reaching net-zero by 2050.
Performance Standard
The Performance Standard allows carbon credits to be earned for energy reductions that meet a specified threshold, even if the project would have occurred without market support. While these projects may be environmentally beneficial, they are often not considered as “high quality” as projects with more rigorous certification processes.
Permanence
Permanence refers to the long-term stability of carbon sequestration or greenhouse gas mitigation efforts. In the context of climate change, it refers to the lasting impact of strategies like reforestation, carbon capture and storage, or renewable energy on reducing or permanently removing emissions.
Pink Hydrogen
Pink Hydrogen is produced through electrolysis powered by nuclear energy. It is also known as purple or red hydrogen. Additionally, nuclear reactors can produce high-temperature steam for more efficient electrolysis or fossil gas-based steam methane reforming, contributing to hydrogen production.
Project Design Document (PDD)
A Project Design Document (PDD) is a key technical document that outlines the strategy and methodology of a carbon credit project, detailing its objectives and how it will be implemented.
Project Protocol
Project Protocol is a document published by the Greenhouse Gas Registry that outlines the methodology and criteria a carbon project developer must follow to be eligible for certification.
Real Offsets
Real Offsets refer to carbon offsets that have already resulted in a reduction of carbon emissions, as opposed to those that are projected to do so in the future. This is one of the four key factors to consider when acquiring carbon offsets.
Reduce Emissions from Deforestation and Forest Degradation (REDD+)
REDD+ stands for Reduce Emissions from Deforestation and Forest Degradation. It is an international framework designed to halt the destruction of forests and promote sustainable forest management. By incentivising conservation, restoration, and local economic activities, REDD+ projects aim to reduce greenhouse gas emissions, which increase as forest cover decreases. These initiatives often provide social benefits, such as using branches and twigs to make charcoal instead of cutting down trees.
Reforestation
Reforestation is the process of planting trees in areas where forests have been removed or degraded. This helps sequester carbon by increasing the amount of carbon stored in vegetation and soil. Reforestation can be used as a carbon offsetting strategy, where the carbon sequestered by the trees counts towards an organisation’s emissions reduction targets.
#carbonsequestration
Regional Carbon Market
Regional Carbon Market is a carbon trading system that operates within a specific geographical area, often governed by regional or national regulations and emission reduction targets.
#carbonmarkets #carbontrading
Registry
Registry is a third-party program used to verify, account for, measure, and track greenhouse gas (GHG) emissions in a carbon market. It ensures transparency and accountability for emissions trading.
#carbonregistry #carboncredit
Regulatory Carbon Market
Regulatory Carbon Market is a system in which governments set a cap on the total amount of greenhouse gases that can be emitted in a specific area or sector. Permits or allowances to emit certain amounts of gases are issued to businesses, which can buy or sell them on the market. This creates a financial incentive for companies to reduce emissions and helps achieve climate change mitigation targets. Regulatory carbon markets are often part of broader systems like cap-and-trade or carbon tax frameworks.
#carbonmarkets #carbontrading
Regulatory Offsets
Regulatory offsets are carbon offsets purchased to meet a regulated emissions cap, typically within a legal framework designed to ensure compliance with emissions reduction targets.
#carbonoffsets
Removal Unit (RMU)
A Removal Unit (RMU) is a Kyoto Protocol unit that represents one metric tonne of carbon dioxide equivalent (CO2e) emissions absorbed or removed by a carbon sink project. RMUs are awarded for carbon dioxide removal through qualifying land use, land-use change, and forestry activities.
Renewable Energy Certificate (REC)
A Renewable Energy Certificate (REC) is a tool used to document the generation of one megawatt-hour (MWh) of renewable energy. It tracks the origin of energy from renewable sources like wind, solar, and hydro, from the electricity generator to the purchaser and stakeholders.
Renewable Natural Gas (RNG) Programs
Renewable Natural Gas (RNG) Programs allow gas customers to choose a portion of their natural gas supply derived from renewable biomass sources. RNG is a sustainable alternative to conventional natural gas and is interchangeable with liquefied petroleum gas.
SME Climate Commitment
The SME Climate Commitment is a voluntary pledge by small and medium-sized enterprises (SMEs) to reduce their greenhouse gas emissions and act on climate change. By committing, SMEs agree to measure and report their emissions, set reduction targets, and implement strategies to meet those goals. The initiative aims to inspire SMEs to contribute to the global effort to combat climate change and reduce emissions.
Science-Based Targets Initiative (SBTi)
The Science-Based Targets Initiative (SBTi) is a partnership involving organisations such as the World Wildlife Fund (WWF), the United Nations Global Compact (UNGC), and the Carbon Disclosure Project (CDP). It encourages companies to set science-based targets for reducing greenhouse gas emissions, aligned with the latest climate science and the Paris Agreement. The SBTi provides a clear framework for companies to reduce emissions in line with global efforts to limit global warming to well below 2°C. By adopting these targets, companies demonstrate their commitment to climate action, manage risks, reduce costs, and support the transition to a low-carbon economy.
Scope 1 Emissions
Scope 1 Emissions are direct greenhouse gas emissions from sources owned or controlled by a company. For example, emissions from the on-site burning of fossil fuels in manufacturing equipment such as boilers or furnaces.
Scope 2 Emissions
Scope 2 Emissions are indirect greenhouse gas emissions from the consumption of purchased electricity, steam, heating, or cooling. For example, emissions from electricity generation used to power a manufacturing facility.
Scope 3 Emissions
Scope 3 Emissions are indirect emissions not directly controlled by an organisation but are linked to its activities, including supply chain emissions, waste disposal, and emissions from the use of its products. For example, emissions from transporting raw materials to a manufacturing facility.
Scope 4 Emissions
Scope 4 Emissions, or “Avoided Emissions,” refer to the reduction of emissions outside a product’s life cycle but because of its use. The concept, introduced by the World Resources Institute in 2013, extends the scope of carbon accounting beyond the direct and indirect emissions associated with a company’s operations (covered under Scope 1, 2, and 3 emissions) to include the positive impact of its products and services in reducing emissions elsewhere. For example, if a company produces energy-efficient appliances, the emissions avoided by consumers using these appliances instead of less efficient ones would fall under Scope 4.
Spend-based Data
Spend-based Data in carbon accounting involves calculating an organisation’s carbon footprint based on its expenditures on activities that produce greenhouse gas emissions. This method tracks spending on items like fuel and electricity and uses emission factors to estimate emissions. It provides a more detailed view of an organisation’s carbon footprint compared to inventory-based methods, which focus only on direct emissions.
Spot/Forward Agreement
A Spot/Forward Agreement is a contract in carbon markets where two parties agree to buy or sell carbon credits or allowances at a specified price and future date. This helps parties manage their carbon emissions and costs by locking in prices, reducing the uncertainty of fluctuating carbon markets. This type of agreement is commonly used in the carbon markets to manage emissions and compliance with carbon reduction targets.
Streamlined Energy & Carbon Reporting (SECR)
Streamlined Energy & Carbon Reporting (SECR) is a mandatory reporting framework introduced in the UK in April 2019. It requires certain large businesses and public sector organisations to disclose their greenhouse gas emissions and energy use in annual reports. SECR aims to increase transparency, promote accountability, and encourage companies to reduce emissions and improve energy efficiency.
Supply Chain Emissions
Supply Chain Emissions are the greenhouse gas emissions associated with the production, transportation, and disposal of goods and materials within a company’s supply chain. These emissions are significant contributors to overall carbon emissions and reducing them is a key focus for companies striving to meet sustainability goals.
Sustainable Development Goals (SDG)
The Sustainable Development Goals (SDGs) are 17 global objectives set by the United Nations to achieve a more sustainable future. Four of these goals are directly related to climate action, including efforts to mitigate and adapt to climate change.
Sustainable Finance Disclosure Regulation (SFDR)
The Sustainable Finance Disclosure Regulation (SFDR), introduced by the European Union in March 2021, requires financial market participants—such as banks, insurance companies, and asset managers—to disclose information on sustainability risks and practices. The SFDR aims to increase transparency, improve sustainability disclosures, and support the transition to a more sustainable economy.
Task Force on Climate-related Financial Disclosures (TCFD)
The Task Force on Climate-related Financial Disclosures (TCFD) provides voluntary guidelines for organisations to disclose the financial impacts of climate change on their operations and investments. Established by the Financial Stability Board (FSB) in 2015, TCFD helps businesses assess and manage climate-related risks and opportunities.
Tipping Point
In the context of climate change, Tipping Point is the critical threshold at which the Earth’s climate system begins to experience irreversible or rapid changes. This can result from factors like the melting of glaciers or the release of greenhouse gases, leading to severe impacts such as extreme weather events, rising sea levels, and disruption to ecosystems.
Tradable Instrument for Global Renewables (TIGR)
Tradable Instrument for Global Renewables (TIGR) is an online platform for tracking and trading Renewable Energy Certificates (RECs) in regions including Asia, Africa, and the Americas.
Turquoise Hydrogen
Turquoise hydrogen is a new form of hydrogen produced through methane pyrolysis, a process that generates hydrogen and solid carbon. If powered by renewable energy and the carbon being permanently stored or used, turquoise hydrogen could emerge as a low-emission energy source in the future.
#hydrogen
Two-degree Limit/Two-degree Target
The two-degree limit refers to the global effort to restrict the average global temperature increase to 2°C above pre-industrial levels. This target, established by the UNFCCC, is crucial for preventing the most devastating impacts of climate change.
#parisclimateagreement
United Nations Framework Convention on Climate Change (UNFCCC)
The UNFCCC is an international treaty signed in 1992 to address global climate change. It serves as the main platform for global cooperation on climate action, facilitating negotiations to reduce greenhouse gas emissions and adapt to climate change impacts. The UNFCCC hosts the annual Conference of the Parties (COP) meetings, where the 196 countries that have ratified it, make decisions on climate policy.
Upstream Emissions
Upstream emissions are generated during the production and extraction of raw materials or energy sources used to make a product, before it reaches the consumer. For example, emissions from the extraction of oil and steel for car production are considered upstream emissions.
Validation
Validation is the process of having a qualified, accredited third party audit a carbon project to ensure that it meets the criteria for greenhouse gas reduction programs.
Value Chain Emissions
Value Chain Emissions refer to the greenhouse gas emissions generated throughout the entire life cycle of a product—from raw material extraction, manufacturing, and transportation to use and disposal. For example, emissions from transporting goods from a factory to a retail store, or during their disposal, are considered value chain emissions.
Verification
Verification is the process of having a third-party, accredited auditor confirm the authenticity of carbon credits after a carbon project has been completed and has generated credits.
Verified Carbon Standard (VCS)
The Verified Carbon Standard (VCS) is a certification system for carbon emission reductions, managed by the nonprofit Verra. It ensures that carbon reductions are real, measurable, and verifiable.
Verra
Verra is a certification standard for non-governmental emission reduction initiatives. It is involved in various climate and development projects, including the Clean Development Mechanism (CDM) and the Voluntary Carbon Market.
Vintage
Vintage refers to the year in which the greenhouse gas emissions reductions were achieved for a particular carbon credit. The vintage year may not always align with the year of the transaction and may even be in the future.
Volatile Organic Compounds (VOCs)
Volatile Organic Compounds (VOCs) are organic chemicals that impact indoor air quality and may pose health risks. Unlike greenhouse gases (GHGs), VOCs are not classified as GHGs but are commonly found in materials like paints, building products, and household items.
Voluntary Emission Reductions (VERs)
Voluntary Emission Reductions (VERs) are greenhouse gas reductions that individuals, businesses, or organisations voluntarily implement, but are not required by law. These reductions can be achieved through initiatives like investing in renewable energy or improving energy efficiency. VERs help reduce carbon footprints and support global emission reduction efforts.
Voluntary Carbon Market
The Voluntary Carbon Market allows individuals or organisations to purchase carbon credits voluntarily to offset their emissions. These credits represent the reduction or avoidance of greenhouse gases from projects such as renewable energy or reforestation.
Voluntary Commitments
Voluntary Commitments are actions or goals voluntarily undertaken by individuals or organisations without external pressure. These commitments, ranging from reducing greenhouse gas emissions to increasing charitable donations, are often made in support of environmental or social causes and demonstrate a commitment to sustainability.
Voluntary Offsets
Voluntary Offsets are carbon offsets purchased as part of a corporate sustainability program or by individuals to reduce their environmental impact.
White Hydrogen
White Hydrogen refers to naturally occurring hydrogen found in underground deposits, often created through fracking. Currently, there are no established methods to extract or use this hydrogen on a large scale.
Water Restoration Certificate (WRC)
A Water Restoration Certificate (WRC) certifies the purchase of 1,000 gallons (about 3,785 litres) of water to offset water usage and restore critical rivers or streams, particularly in areas where water is most needed.
Zero Carbon
Zero Carbon refers to the absence of carbon emissions or the neutralisation of emissions through offsetting. It can be achieved through strategies like transitioning to renewable energy, improving energy efficiency, and utilising carbon capture and storage technologies.
A
Adaptation
Adaptation is the process of adjusting to new conditions or circumstances to better survive and thrive. In the context of carbon accounting, adaptation refers to the strategies and actions taken by organisations and individuals to reduce their carbon footprint and minimise the impacts of climate change on their operations.
#Carbonfootprint
Additionality
Additionality refers to the carbon offset benefits that would not occur without carbon financing. For instance, a project claiming to “save” a forest that was not genuinely under threat lacks additionality, as its outcomes would have occurred regardless of external funding.
Afforestation
Afforestation is the process of planting trees in areas where no previous tree cover existed. This practice serves multiple purposes, such as restoring ecosystems, improving air and water quality, and combating climate change by capturing carbon dioxide in trees. Companies may use afforestation as a strategy to offset their greenhouse gas emissions. For example, a business with high emissions might plant trees to absorb carbon, helping to meet carbon reduction targets while contributing to global climate action efforts.
Air pollution/emission
Air pollution refers to gaseous and particulate substances released into the atmosphere by human activities, including production, consumption, and accumulation processes.
Air Quality Index (AQI)
The Air Quality Index (AQI) measures the concentration of harmful pollutants in the air, indicated on a scale from 0 to 500. It denotes the quality of breathable air, alerting about potential health risks associated with exposure to high levels of pollutants.
Anthropogenic
Anthropogenic refers to effects caused or influenced by human activities. Often used in environmental contexts, this term highlights human-induced impacts, such as pollution, deforestation, and climate change.
B
Base Year
A Base Year in carbon accounting serves as the reference point for measuring and tracking carbon emissions. It marks the starting year against which future emissions reductions and carbon footprints are compared. For instance, if a company sets 2019 as its base year, it will measure emissions from 2019 onward, comparing current levels to those of the base year to assess progress. This benchmark is crucial for setting carbon reduction targets and monitoring progress, often supported by carbon management platforms.
Baseline Emissions Baseline Emissions represent the quantity of greenhouse gas emissions that would occur without the implementation of a carbon credit project.
Biochar
Biochar is a stable, porous form of charcoal created through pyrolysis, a process that heats organic matter in the absence of oxygen. Biochar is used for various purposes, including improving soil quality, filtering water, and acting as a carbon sequestration tool due to its ability to store carbon for extended periods.
Biofuel
Biofuel is a renewable fuel derived from organic materials such as plant matter or animal waste. It is considered more sustainable and environmentally friendly than fossil fuels since it can be sourced from renewable inputs and reduces greenhouse gas emissions. For example, companies like Biofuels Corporation produce biodiesel from waste vegetable oil collected from restaurants for use in vehicles.
Blue Carbon
Blue Carbon refers to the carbon captured and stored by coastal and marine ecosystems, including tidal marshes, seagrass beds, and mangrove forests. These ecosystems are vital in the global carbon cycle due to their significant carbon sequestration capacity. For instance, mangrove forests can store up to five times more carbon per unit area than tropical forests, making their restoration a key strategy for enhancing carbon capture.
Blue Hydrogen
Blue Hydrogen is produced from natural gas through steam reforming, a process that combines natural gas with steam. While hydrogen is the main output, carbon dioxide is also generated as a by-product, which can be managed or captured to reduce emissions.
Business Responsibility and Sustainability Reporting (BRSR)
Business Responsibility and Sustainability Reporting (BRSR) is a mandatory disclosure framework for listed entities in India, introduced by the Securities and Exchange Board of India (SEBI) in 2012. The BRSR framework promotes sustainable business practices by requiring companies to report on their environmental, social, and governance (ESG) performance, ensuring greater transparency and accountability in corporate sustainability efforts.
#BRSR #ESG
C
CO₂ Mineralisation
CO₂ Mineralisation is a carbon removal process where atmospheric carbon dioxide is converted into a stable, solid mineral. This occurs naturally when certain rocks interact with CO₂, but technology can now speed up the process. Once mineralised, the CO₂ is permanently removed from the atmosphere.
Cap and Trade
Cap and Trade is a market-based approach to controlling greenhouse gas emissions. Governments or organisations set emission caps and issue tradable allowances, each representing one metric ton of CO₂ emissions. Entities exceeding their caps can purchase additional allowances, incentivising overall emission reductions.
#Carbonmarkets #Carbontrading
Carbon
Carbon is a shorthand term used to describe the presence of carbon dioxide (CO₂) and other greenhouse gases (GHGs) in the atmosphere. These gases include methane (CH₄), nitrous oxide (N₂O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulphur hexafluoride (SF₆), and nitrogen trifluoride (NF₃), all of which contribute to global warming.
Carbon Border Adjustment Mechanism (CBAM)
The Carbon Border Adjustment Mechanism (CBAM) is a proposed policy that taxes imported goods based on their carbon emissions. By levelling the playing field for domestic producers and incentivising cleaner production methods globally, CBAM aims to reduce emissions and support sustainable manufacturing.
Carbon Capture, Usage and Storage (CCUS)
Carbon Capture, Usage, and Storage (CCUS) involves capturing carbon dioxide (CO₂) emissions from industrial activities and either repurposing it for useful applications or securely storing it underground. CCUS is a critical technology for reducing emissions and mitigating climate change.
#decarbonization
Carbon Credit Trading Scheme (CCTS)
India’s Carbon Credit Trading Scheme (CCTS) is a groundbreaking initiative established under the Energy Conservation (Amendment) Bill, 2022. It empowers the government to create a domestic carbon trading market, encouraging industries to reduce emissions through a market-based mechanism.
#Carbonmarkets #Carbontrading
Carbon Disclosure Project (CDP)
The Carbon Disclosure Project (CDP) is a nonprofit organisation that provides a standardised platform for companies and cities to disclose data on greenhouse gas emissions and climate strategies. CDP promotes transparency and helps entities track and manage their carbon footprints effectively.
#GHG
Carbon Accounting
Carbon accounting is the process of measuring, tracking, and reporting greenhouse gas emissions from an organisation’s activities. This includes calculating emissions from energy use, transportation, and waste management to assess environmental impact and identify reduction opportunities.
#carbonfootprint
Carbon Budget
A carbon budget represents the maximum amount of carbon dioxide that can be emitted within a specified timeframe while keeping global warming within safe limits. It is a critical tool for governments and organisations to set emission reduction targets and develop sustainable strategies.
Carbon Capture and Storage (CCS)
Carbon Capture and Storage (CCS) is a technology designed to capture carbon dioxide (CO₂) emissions from sources like power plants and industrial facilities. The captured CO₂ is then stored underground or in secure locations, preventing it from entering the atmosphere and contributing to climate change.
Carbon Credit
A carbon credit represents one metric ton of greenhouse gas emissions avoided, reduced, or sequestered through specific projects. Carbon credits, often interchangeable with carbon offsets, allow organisations to offset their emissions by supporting certified reduction projects.
#carbonoffset #carboncredit
Carbon dioxide Equivalent (CO2e)
Carbon dioxide Equivalent (CO₂e) is a standardised measure used to compare the global warming potential of different greenhouse gases. By converting emissions into an equivalent amount of CO₂ based on their warming potential, CO₂e allows for more accurate quantification and understanding of their impact on climate change.
Carbon Farming
Carbon Farming, or carbon sequestration, is an agricultural approach that enhances the land’s ability to store carbon while reducing greenhouse gas emissions. Practices include no-till farming, grazing management, and comprehensive farm management plans, resulting in healthier soils, reduced erosion, and carbon offset generation.
#carbonsequestration #carbonoffset
Carbon Footprint
Carbon Footprint is the total greenhouse gas emissions, measured in CO₂e, produced by an individual, organisation, or activity over a specific period. It includes emissions from energy consumption, transportation, and waste generation.
#GHGemissions
Carbon Leakage
Carbon leakage occurs when efforts to reduce greenhouse gas emissions in one country or region lead to an increase in emissions elsewhere. This typically happens when industries relocate to areas with less stringent environmental regulations, undermining global climate action efforts.
#risingemissions #climatecontrol
Carbon Market
A carbon market refers to the buying and selling of greenhouse gas (GHG) emissions worldwide. It consists of two submarkets:
#Carbonmarkets #Carbontrading
Carbon Negative
Carbon Negative refers to a process or situation where the amount of carbon dioxide removed from the atmosphere exceeds the amount released. This can be achieved through actions such as reforestation or carbon capture technologies. Carbon-negative practices are crucial in mitigating climate change and reducing the greenhouse effect.
#carbonoffset #carbonsequestration
Carbon Neutrality/Carbon-neutral
Carbon Neutrality, or being carbon-neutral, means having a net-zero carbon footprint. This occurs when the amount of CO2 released into the atmosphere is balanced by the amount absorbed or offset through initiatives like renewable energy use, carbon offset projects, or environmental conservation. Achieving carbon neutrality is essential in combating climate change and reducing the negative impacts of human activities.
#carbonneutral #netzero
Carbon Offsetting
Carbon offsetting is a method of compensating for GHG emissions by investing in projects that reduce or eliminate carbon emissions, such as renewable energy or reforestation. This practice helps counterbalance the adverse effects of greenhouse gases, contributing to the reduction of global warming.
#carbonoffset
Carbon Permit
A carbon permit grants its holder the right to emit a specific amount of carbon dioxide or other greenhouse gases. This permits businesses to pollute up to a set limit.
Carbon Positive
Carbon positive refers to a state where an individual or organisation has a net positive impact on the environment by reducing or offsetting more carbon emissions than they produce. This is achieved through energy efficiency, renewable energy, and investment in carbon offset projects. A carbon-positive entity actively works to reduce climate change impacts.
#carbonfootprint #carbonremoval #carbonsequestration
Carbon Sequestration
Carbon sequestration is the process of capturing and storing carbon dioxide (CO2) from the atmosphere, typically through vegetation, soils, or geological formations. This practice significantly reduces the amount of CO2 in the atmosphere and helps mitigate climate change.
#carbonsequestration #carboncapture
Carbon Sink
A carbon sink is a natural or artificial system that absorbs and stores CO2 from the atmosphere, helping to reduce the effects of greenhouse gas emissions. Natural carbon sinks include forests, oceans, and soils, while artificial sinks involve carbon capture and storage technologies.
#carbonsequestration
Carbon Target
A Carbon Target is a device or material made from carbon or a carbon-based compound, often used in scientific or industrial processes such as sputtering or ion beam deposition. These targets are known for their durability and high conductivity, making them ideal for applications that require thin films or coatings.
Carbon Tax
Carbon Tax is a levy imposed on the emission of carbon dioxide and other greenhouse gases. Its purpose is to encourage businesses and individuals to reduce their emissions by increasing the cost of polluting activities.
Certification of Carbon Credits
Certification of Carbon Credits is the process by which a third-party organisation verifies that a certain amount of GHG emissions have been reduced or offset through a specific project. Certification ensures that carbon credits are legitimate and generated through verified emission reduction activities, adding transparency and trust to the carbon credit market.Clean Development Mechanism (CDM)
The Clean Development Mechanism, established under the Kyoto Protocol, allows countries to meet emissions reduction targets by purchasing carbon credits that fund sustainable development projects in developing countries.
Clean Hydrogen
Clean Hydrogen refers to hydrogen produced in environmentally friendly ways. Green Hydrogen is produced via electrolysis powered by renewable energy sources, while Blue Hydrogen is produced from natural gas combined with carbon capture and storage (CCS) technology.
#hydrogen
Climate Neutral
Climate Neutral refers to achieving a balance between carbon emissions and offsets, resulting in a net-zero carbon footprint.
#netzero #carbonneutral
Climate Change
Climate change refers to long-term changes in global or regional weather patterns, largely driven by human activities such as burning fossil fuels and deforestation, which release greenhouse gases like carbon dioxide into the atmosphere.
#fossilfuels #ghgemissions
Climate Contribution
Climate contribution refers to the impact of a specific activity or action on the climate. For example, burning fossil fuels releases CO2 into the atmosphere, contributing to global warming and climate change. Another example of a climate contribution is deforestation, which reduces the amount of CO2 that is absorbed from the atmosphere.
#globalwarming #deforestation
Climate Investment
Climate Investment involves allocating financial resources to initiatives and projects aimed at reducing GHG emissions, adapting to climate change, and supporting the transition to a low-carbon economy. These investments often include renewable energy, energy efficiency, and climate-resilient infrastructure.
Co-benefits
Co-benefits are the economic, social, and environmental advantages resulting from a policy or action designed to address climate change.
Compensation
In carbon management, compensation refers to providing financial or other forms of support to individuals or organisations affected by climate change, such as those impacted by extreme weather events or loss of livelihoods.
Compliance Market
Compliance Market refers to a regulatory framework established by governments and multinational agreements to cap the amount of greenhouse gases businesses can emit. Companies that emit less than their allotted limit can sell their unused permits to those exceeding their allowances in a cap-and-trade system. This market is also known as the ‘Regulatory Market’.
#carbonmarkets #carboncredit
Conference of the Parties (COP)
The Conference of the Parties (COP) is an annual international climate meeting organised by the United Nations, where 197 countries that joined the UN Framework Convention on Climate Change (UNFCCC) in 1994, gather to take voluntary actions on climate change.
Corporate Carbon Footprint
Corporate Carbon Footprint is the total amount of GHG emissions generated by a company’s operations and supply chain, including emissions from energy use, transportation, and waste management.
#carbonfootprint #ghgemission
Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) refers to a business’ commitment to positively impacting society and the environment. This often involves participating in the voluntary carbon market to offset emissions and other environmentally responsible practices.
Corporate Sustainability Due Diligence
Corporate Sustainability Due Diligence is the process of assessing a company’s environmental, social, and governance (ESG) practices to identify risks and opportunities for improving sustainability. This includes analysing GHG emissions, waste reduction efforts, labour practices, and diversity and inclusion.
#ESG #carbonremoval
Corporate Sustainability Reporting Directive (CSRD)
The Corporate Sustainability Reporting Directive (CSRD) is an EU directive requiring large companies and public-interest entities to disclose their ESG performance in annual financial reports. The goal of the CSRD is to improve transparency, accountability, and sustainability practices among companies.
#EUETS
Corporate Sustainability
Corporate sustainability is the practice of running a business that meets present economic, social, and environmental needs without compromising future generations’ ability to meet their own. It involves being responsible for the company’s impact on the environment, employees, communities, and long-term financial success.
D
Decarbonisation
Decarbonisation is the process of reducing carbon emissions in the atmosphere. It involves transitioning from fossil fuels and other sources of greenhouse gases to cleaner, renewable energy sources. This shift is essential for mitigating climate change and achieving long-term environmental sustainability.
#decarbonization #carbonremoval
Degradation
Degradation refers to the decline in the capacity of environmental assets to deliver ecosystem services. This loss of capacity can result from the actions of economic units, such as households, and affects the environment’s ability to provide essential functions like air and water purification, soil fertility, and climate regulation.
Depletion
Depletion is the reduction in the quantity of a natural resource over a period due to extraction by economic units at a rate greater than its rate of regeneration. This often applies to non-renewable resources like fossil fuels, minerals, and water.
Direct Air Capture (DAC)
Direct Air Capture (DAC) is a technology that captures carbon dioxide (CO2) directly from the atmosphere. Using large fans, air is drawn in and passed through filters and chemical processes to concentrate and capture the CO2. The captured CO2 can be stored or used for various purposes, such as producing synthetic fuels. DAC is considered a promising solution for reducing atmospheric CO2 levels and combating climate change.
#carbonsequestration
Direct Emissions
Direct emissions are greenhouse gases (GHGs) emitted directly into the atmosphere from a business’ operations. For example, CO2 emissions from burning fossil fuels for energy or transportation are considered direct emissions. These emissions are under the direct control of the company and are a key factor in its carbon footprint.
Double Counting
Double Counting in carbon accounting occurs when the same emissions are reported multiple times in different accounting systems or frameworks. This can happen if emissions are measured differently by organisations, or if emissions are counted in multiple jurisdictions. Double counting leads to inaccuracies in emissions data and can hinder effective carbon management and reduction efforts.
#carbonaccounting #carboncalculator #ghgemissions
Downstream Emissions
Downstream Emissions refer to the release of greenhouse gases or other pollutants during the use, disposal, or end-of-life stages of a product or service. These emissions occur after the product has been sold and are not directly related to its production. Examples include emissions from vehicles’ fuel combustion, electronic waste disposal, or energy consumption by household appliances.
E
Eco-Mark:
The Government of India has established the Eco-Mark scheme to label environment-friendly products. Issued by the Bureau of Indian Standards (BIS), the Eco-Mark certification signifies that a product meets the ecological safety standards set by the BIS.
#carboncertification
Emission Reduction Ton (ERT)
An Emission Reduction Ton (ERT) represents the reduction or removal of one metric tonne of carbon dioxide equivalent (CO2e) from the atmosphere.
Emission Factor
Emission Factor is a numerical value used to estimate the amount of a particular pollutant released from a specific source. It is typically expressed as the quantity of pollutants emitted per unit of activity, such as grams of pollutant per unit of fuel burned or pounds of pollutant per mile travelled. Emission factors help calculate emissions from various sources, like power plants or vehicles, and can vary depending on the pollutant type and source.
Emissions
Emissions refer to the release of gases, particulate matter, and other substances into the atmosphere. These emissions can have adverse effects on both the environment and human health.
Emissions Obligation
Emissions Obligation refers to the total amount of CO2 emissions a company is permitted to release annually under a regulatory system, such as the California cap-and-trade program.
Emissions Rights
Emissions Rights are allowances or permits granted to a company or individual, permitting them to release a specific amount of greenhouse gases into the atmosphere. These rights are typically allocated by governments or regulatory bodies as part of an overall emissions reduction strategy. For example, under the European Union’s cap-and-trade system, companies receive emissions rights based on their size and industry. If a company exceeds its allocation, it must purchase additional allowances from other companies with surplus rights.
#carbonpermit #carbonmarkets #carbontrading
Energy Mix
An Energy Mix is the combination of different energy sources used to meet the energy demands of a region or country. This can include fossil fuels like coal and natural gas, renewable sources such as wind and solar, and other sources like nuclear and hydroelectric power. The energy mix is determined by the availability, cost, and policy priorities of each region or country.
Environmental Assets
Environmental assets are the natural living and non-living components of the Earth that together form the biophysical environment. These assets provide valuable benefits to humanity, such as clean air, water, and biodiversity.
ESG
ESG stands for Environmental, Social, and Governance factors, which are key criteria used to evaluate a company’s sustainability and ethical impact. Environmental factors include energy consumption and water usage; Social factors include talent attraction and supply chain management; and Governance factors cover areas like board composition and remuneration policies. ESG is the foundation of various sustainable investment approaches.
ESG Reporting
ESG Reporting refers to the practice of publicly disclosing information related to a company’s Environmental, Social, and Governance (ESG) practices. This allows investors and stakeholders to assess a company’s sustainability performance and identify potential risks and opportunities. ESG reports typically cover areas such as carbon emissions, labour practices, human rights policies, and corporate governance structures.
#ESG #carbonfootprint
EU Emission Trading Scheme (EU ETS)
The EU Emission Trading Scheme (EU ETS) is the world’s largest cap-and-trade program, covering approximately 45% of the European Union’s greenhouse gas emissions. Launched in 2005, it includes emissions from heavy industry, electricity generation, and aircraft within the EU.
Extreme Weather Events
Extreme weather events are unexpected and unusually severe weather patterns, often linked to climate change. These can include heatwaves, cold spells, floods, and hurricanes that exceed historical norms. Examples include the 2021 Western North America heatwave that set record-high temperatures in Canada, and the February 2021 cold wave in Texas. Evidence suggests that climate change may be increasing both the frequency and intensity of such extreme weather events.
F
Fossil fuels are energy sources formed from the remains of ancient plants and animals that lived millions of years ago. These include coal, oil, and natural gas, which are extracted from the earth and burned to produce electricity or heat. Fossil fuels are considered non-renewable because their formation takes millions of years, and they are being consumed more quickly than they can be replenished. Burning fossil fuels releases greenhouse gases into the atmosphere, contributing to climate change.
Fugitive Emissions
Fugitive Emissions are the unintentional or accidental release of gases or vapours into the atmosphere from various sources, such as industrial processes, leaks in pipelines or storage tanks, and evaporation from liquids. These emissions can contribute to air pollution and the release of greenhouse gases, and they are subject to regulation under environmental laws and policies.
Futures Carbon Market
The Futures Carbon Market is a marketplace where carbon credits are bought and sold based on future delivery contracts. This allows participants to hedge against price fluctuations in the carbon market and plan for future emissions reductions.
#carbonmarkets #carbontrading
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Global Surface Temperature
Global Surface Temperature refers to the average temperature of the Earth’s surface, calculated by measuring temperatures at various locations worldwide. It is a key indicator for understanding and predicting climate change, as changes in global surface temperature can impact weather patterns, sea levels, and other factors that affect the Earth’s climate.
Global Sustainability Agenda
The Global Sustainability Agenda represents the collective efforts of nations, organisations, and individuals working toward achieving the Sustainable Development Goals (SDGs) and creating a sustainable future for the planet.
Global Warming Potential (GWP)
Global Warming Potential (GWP) is a measure of the heat-trapping potential of different greenhouse gases. It compares the amount of heat absorbed by a particular gas to that absorbed by a reference gas, typically carbon dioxide, over a specified period. GWP is expressed in carbon dioxide equivalent (CO2e), which enables comparison of different gases in terms of their global warming potential. For example, methane has a GWP of 28-36 over 100 years, meaning one ton of methane has the same heat-trapping potential as 28-36 tons of carbon dioxide over the same period. GWP is crucial for understanding and mitigating climate change, as it helps identify the most significant greenhouse gases and guides emission-reduction strategies.
Global Warming
Global warming refers to the gradual increase in the Earth’s overall temperature, primarily caused by higher levels of greenhouse gases due to human activities such as burning fossil fuels and deforestation. This phenomenon has been linked to more frequent and severe heatwaves, droughts, natural disasters, the melting of polar ice caps, and rising sea levels, all of which threaten the planet’s climate systems.
Gold Standard
The Gold Standard is a certification standard for carbon offset projects in countries that do not have emission reduction targets under the Kyoto Protocol. It ensures that offset projects deliver high-quality environmental and social benefits.
Gold Standard Verified Carbon Standard (GS VER)
The Gold Standard Verified Carbon Standard (GS VER) is a non-governmental certification scheme for emission reduction projects. It participates in initiatives like the Clean Development Mechanism (CDM) and the Voluntary Carbon Market, supporting climate and development efforts.
Green Credits Program (GCP):
The Green Credits Program, launched by the Environment Ministry of India, aims to create market-based incentives for various environmentally positive actions, not just carbon emission reductions.
#carbonmarkets #India
Green Bond
A Green Bond is a financial debt instrument specifically tied to green and climate-friendly assets or projects, aimed at funding environmental initiatives.
Green Finance
Green Finance refers to financial activities that promote environmental sustainability. It encompasses not only climate finance but also broader environmental goals and risks, with a focus on mobilising private investment to support environmentally sustainable projects.
Greenhouse Gas (GHG) Protocol
The Greenhouse Gas Protocol (GHG Protocol) is a globally recognised framework for measuring, managing, and reducing greenhouse gas emissions. Developed by the World Resources Institute and the World Business Council for Sustainable Development, the GHG Protocol provides guidance for businesses, governments, and other organisations to assess their carbon footprint and manage emissions.
#GHGprotocol #carbonstandard
Greenhouse Gas (GHG) Trading
Greenhouse Gas (GHG) Trading involves the buying and selling of carbon credits or emission allowances in carbon markets to manage and offset greenhouse gas emissions.
Greenhouse Gas (GHG)
Greenhouse gases (GHGs) include carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), and sulphur hexafluoride (SF6). Some programs also include nitrogen trifluoride (NF3).
Greenhouse Gas Effect
The greenhouse gas effect occurs when greenhouse gases in the Earth’s atmosphere trap heat, preventing it from escaping into space, thereby warming the planet.
Greenhouse Gas Registry
Greenhouse Gas Registry is a public platform that recognises businesses for reporting third-party verified greenhouse gas inventories and for reducing their emissions.
Green Hydrogen Green Hydrogen is produced through the electrolysis of water, using electricity derived from renewable sources, such as wind or solar power. #hydrogen
Greenwashing Greenwashing is the practice of making misleading or false claims about the environmental benefits of a product, service, or company to appear more environmentally responsible or gain a competitive advantage. This often involves vague terms like “green” or “eco-friendly” without substantiating evidence.
Grey Hydrogen
Grey Hydrogen is produced from natural gas or methane using steam methane reforming, without capturing the greenhouse gases emitted in the process. It is the most common form of hydrogen production but does not include carbon capture and storage.
#hydrogen
GRI
GRI stands for the Global Reporting Initiative, an international organisation that develops sustainability reporting standards to ensure sustainability and transparency in business practices. These guidelines enable businesses to disclose information on their environmental, social, and economic performance, helping stakeholders make more informed decisions.
#carbonstandards
Guarantees of Origin (GO)
Guarantees of Origin (GOs) are certificates required by the European Union for member states to disclose the share of their electricity consumption generated from renewable energy sources.
H
Hydrogen
Hydrogen is the simplest and most abundant element in the universe, consisting of a positively charged nucleus (proton) and a negatively charged electron. With the lowest atomic weight of any element, hydrogen is a colourless, odourless gas under standard conditions.
#hydrogen
I
Indian Green Building Council (IGBC)
The Indian Green Building Council (IGBC), part of the Confederation of Indian Industry (CII), was established in 2001 with the mission to foster a sustainable built environment. The IGBC Pre-certification is awarded to projects based on the green measures incorporated during the design phase.
Indirect Emissions
Indirect Emissions are greenhouse gases released because of activities or processes that are not directly controlled by an individual or organisation. These emissions typically occur in the supply chain, such as during the production of goods, electricity generation for factory operations, transportation, or waste disposal.
#ghgemissions
Intergovernmental Panel on Climate Change (IPCC)
The Intergovernmental Panel on Climate Change (IPCC) is an international body of climate scientists and experts formed by the United Nations in 1988. It conducts periodic assessments of the latest scientific research on climate change and provides comprehensive scientific assessments on climate change, its impacts, and potential future risks. The IPCC synthesises global research and offers policy advice but does not conduct its own research.
K
Kyoto Protocol
The Kyoto Protocol, established by the United Nations in 1997, set binding carbon emission reduction targets for participating nations. Notably, the United States did not ratify the protocol.
L
Land Use Change (LUC)
Land Use Change refers to changes in how land is utilised or managed. For example, deforestation in the Amazon has transformed the region from a major carbon sink to a carbon emitter, intensifying climate change.
Leadership in Energy and Environmental Design (LEED)
Leadership in Energy and Environmental Design (LEED) is a globally recognised rating system that evaluates the sustainability of buildings at all stages—from construction to operation. LEED certification recognises buildings that meet high environmental performance standards. However, LEED is not directly related to GHG emissions or the carbon market.
Life Cycle Assessment (LCA)
Life Cycle Assessment (LCA) is a method used to evaluate the environmental impact of a product or service throughout its entire lifecycle. This includes all stages from raw material extraction to end-of-life disposal or recycling, assessing energy use, materials, emissions, and waste. LCA aims to identify areas for environmental improvement.
Loss and Damage
Loss and Damage refer to the unavoidable social, economic, and environmental impacts caused by extreme weather events and climate change, which cannot be mitigated or adapted to. While the concept is recognised globally, there is no universally accepted definition, as noted by UNDP.
Low Carbon Fuel Standard (LCFS)
The Low Carbon Fuel Standard (LCFS) is a policy implemented in California to reduce the carbon intensity of transportation fuels. It encourages the replacement of gasoline and diesel with alternative fuels, such as ethanol, biodiesel, renewable diesel, compressed natural gas, or biogas. LCFS credits differ from carbon credits.
Low Carbon Label
A Low Carbon Label is a certification or mark indicating that a product or service has been produced with minimal carbon emissions. This could involve the use of renewable energy, energy efficiency measures, or sustainable materials. Low-carbon labels help consumers make environmentally responsible purchasing decisions.
M
Mitigation
In the context of carbon management, mitigation refers to actions or strategies aimed at reducing or preventing the release of carbon dioxide (CO2) and other greenhouse gases into the atmosphere. These efforts are essential for slowing or halting climate change, which is largely driven by the increase in greenhouse gas levels.
N
Nationally Determined Contributions (NDC)
Under the Paris Agreement, each country is required to outline its commitments, known as Nationally Determined Contributions (NDCs), to reduce national emissions and adapt to the climate crisis.
Nature-based Solutions
Nature-based solutions involve utilising natural systems—such as forests, wetlands, and coastal ecosystems—to address environmental challenges like climate change, natural disasters, and habitat loss. For example, reforestation is a nature-based solution that helps absorb carbon dioxide, mitigates climate change, and provides additional benefits such as improved air and water quality, wildlife habitats, and recreational spaces.
Net-Zero
Net-Zero refers to a situation where a company or country’s greenhouse gas emissions are balanced by the amount of carbon dioxide removed from the atmosphere. Although often used interchangeably with “carbon neutral,” net-zero encompasses broader climate impacts, including other greenhouse gases.
#carbonneutral #netzero
Net-Zero Journey
The Net-Zero Journey in carbon accounting refers to the process of reducing and offsetting carbon emissions to achieve net-zero carbon emissions. This involves setting reduction targets, implementing strategies, and using carbon sinks or other mechanisms to offset any remaining emissions, with regular monitoring and reporting of progress.
#carbonneutral #netzero
Non-Financial Reporting Directive (NFRD)
The Non-Financial Reporting Directive (NFRD) is a European Union regulation requiring large public-interest entities to disclose information on environmental, social, and governance (ESG) factors. It applies to companies with more than 500 employees, as well as large banks, insurance companies, and asset managers. The NFRD aims to increase transparency and help investors better understand ESG-related risks and opportunities.
#ESG
O
Over-the-Counter (OTC) Carbon Market
The OTC Carbon Market is a marketplace where carbon credits are traded directly between buyers and sellers, without the need for a centralised exchange.
#carbonmarkets #carbontrading #carboncredit
P
Paris-Aligned
Paris-Aligned refers to actions and policies that support the goals of the Paris Climate Agreement. This includes reducing greenhouse gas emissions, increasing renewable energy usage, and implementing adaptation strategies to combat climate change. Efforts aligned with the Paris Agreement aim to limit global warming to well below 2°C above pre-industrial levels.
#parisclimateagreement
Paris Climate Agreement
Adopted in 2015 by the United Nations Framework Convention on Climate Change (UNFCCC), the Paris Climate Agreement is a legally binding international treaty. Its primary goal is to limit global warming to well below 2°C above pre-industrial levels by reducing greenhouse gas emissions. The agreement also encourages climate adaptation and financial support for developing countries to transition to renewable energy and reduce their emissions.
Pathway
A pathway is a model scenario for climate change based on current scientific understanding. For example, the 1.5°C pathway, outlined by the Intergovernmental Panel on Climate Change, estimates a 50-66% chance that global warming will remain at or below 1.5°C by 2100, requiring global emissions to be cut by 7.6% annually. Achieving this would require halving emissions by 2030 and reaching net-zero by 2050.
Performance Standard
The Performance Standard allows carbon credits to be earned for energy reductions that meet a specified threshold, even if the project would have occurred without market support. While these projects may be environmentally beneficial, they are often not considered as “high quality” as projects with more rigorous certification processes.
Permanence
Permanence refers to the long-term stability of carbon sequestration or greenhouse gas mitigation efforts. In the context of climate change, it refers to the lasting impact of strategies like reforestation, carbon capture and storage, or renewable energy on reducing or permanently removing emissions.
Pink Hydrogen
Pink Hydrogen is produced through electrolysis powered by nuclear energy. It is also known as purple or red hydrogen. Additionally, nuclear reactors can produce high-temperature steam for more efficient electrolysis or fossil gas-based steam methane reforming, contributing to hydrogen production.
Project Design Document (PDD)
A Project Design Document (PDD) is a key technical document that outlines the strategy and methodology of a carbon credit project, detailing its objectives and how it will be implemented.
Project Protocol
Project Protocol is a document published by the Greenhouse Gas Registry that outlines the methodology and criteria a carbon project developer must follow to be eligible for certification.
R
Real Offsets
Real Offsets refer to carbon offsets that have already resulted in a reduction of carbon emissions, as opposed to those that are projected to do so in the future. This is one of the four key factors to consider when acquiring carbon offsets.
Reduce Emissions from Deforestation and Forest Degradation (REDD+)
REDD+ stands for Reduce Emissions from Deforestation and Forest Degradation. It is an international framework designed to halt the destruction of forests and promote sustainable forest management. By incentivising conservation, restoration, and local economic activities, REDD+ projects aim to reduce greenhouse gas emissions, which increase as forest cover decreases. These initiatives often provide social benefits, such as using branches and twigs to make charcoal instead of cutting down trees.
Reforestation
Reforestation is the process of planting trees in areas where forests have been removed or degraded. This helps sequester carbon by increasing the amount of carbon stored in vegetation and soil. Reforestation can be used as a carbon offsetting strategy, where the carbon sequestered by the trees counts towards an organisation’s emissions reduction targets.
#carbonsequestration
Regional Carbon Market
Regional Carbon Market is a carbon trading system that operates within a specific geographical area, often governed by regional or national regulations and emission reduction targets.
#carbonmarkets #carbontrading
Registry
Registry is a third-party program used to verify, account for, measure, and track greenhouse gas (GHG) emissions in a carbon market. It ensures transparency and accountability for emissions trading.
#carbonregistry #carboncredit
Regulatory Carbon Market
Regulatory Carbon Market is a system in which governments set a cap on the total amount of greenhouse gases that can be emitted in a specific area or sector. Permits or allowances to emit certain amounts of gases are issued to businesses, which can buy or sell them on the market. This creates a financial incentive for companies to reduce emissions and helps achieve climate change mitigation targets. Regulatory carbon markets are often part of broader systems like cap-and-trade or carbon tax frameworks.
#carbonmarkets #carbontrading
Regulatory Offsets
Regulatory offsets are carbon offsets purchased to meet a regulated emissions cap, typically within a legal framework designed to ensure compliance with emissions reduction targets.
#carbonoffsets
Removal Unit (RMU)
A Removal Unit (RMU) is a Kyoto Protocol unit that represents one metric tonne of carbon dioxide equivalent (CO2e) emissions absorbed or removed by a carbon sink project. RMUs are awarded for carbon dioxide removal through qualifying land use, land-use change, and forestry activities.
Renewable Energy Certificate (REC)
A Renewable Energy Certificate (REC) is a tool used to document the generation of one megawatt-hour (MWh) of renewable energy. It tracks the origin of energy from renewable sources like wind, solar, and hydro, from the electricity generator to the purchaser and stakeholders.
Renewable Natural Gas (RNG) Programs
Renewable Natural Gas (RNG) Programs allow gas customers to choose a portion of their natural gas supply derived from renewable biomass sources. RNG is a sustainable alternative to conventional natural gas and is interchangeable with liquefied petroleum gas.
S
SME Climate Commitment
The SME Climate Commitment is a voluntary pledge by small and medium-sized enterprises (SMEs) to reduce their greenhouse gas emissions and act on climate change. By committing, SMEs agree to measure and report their emissions, set reduction targets, and implement strategies to meet those goals. The initiative aims to inspire SMEs to contribute to the global effort to combat climate change and reduce emissions.
Science-Based Targets Initiative (SBTi)
The Science-Based Targets Initiative (SBTi) is a partnership involving organisations such as the World Wildlife Fund (WWF), the United Nations Global Compact (UNGC), and the Carbon Disclosure Project (CDP). It encourages companies to set science-based targets for reducing greenhouse gas emissions, aligned with the latest climate science and the Paris Agreement. The SBTi provides a clear framework for companies to reduce emissions in line with global efforts to limit global warming to well below 2°C. By adopting these targets, companies demonstrate their commitment to climate action, manage risks, reduce costs, and support the transition to a low-carbon economy.
Scope 1 Emissions
Scope 1 Emissions are direct greenhouse gas emissions from sources owned or controlled by a company. For example, emissions from the on-site burning of fossil fuels in manufacturing equipment such as boilers or furnaces.
Scope 2 Emissions
Scope 2 Emissions are indirect greenhouse gas emissions from the consumption of purchased electricity, steam, heating, or cooling. For example, emissions from electricity generation used to power a manufacturing facility.
Scope 3 Emissions
Scope 3 Emissions are indirect emissions not directly controlled by an organisation but are linked to its activities, including supply chain emissions, waste disposal, and emissions from the use of its products. For example, emissions from transporting raw materials to a manufacturing facility.
Scope 4 Emissions
Scope 4 Emissions, or “Avoided Emissions,” refer to the reduction of emissions outside a product’s life cycle but because of its use. The concept, introduced by the World Resources Institute in 2013, extends the scope of carbon accounting beyond the direct and indirect emissions associated with a company’s operations (covered under Scope 1, 2, and 3 emissions) to include the positive impact of its products and services in reducing emissions elsewhere. For example, if a company produces energy-efficient appliances, the emissions avoided by consumers using these appliances instead of less efficient ones would fall under Scope 4.
Spend-based Data
Spend-based Data in carbon accounting involves calculating an organisation’s carbon footprint based on its expenditures on activities that produce greenhouse gas emissions. This method tracks spending on items like fuel and electricity and uses emission factors to estimate emissions. It provides a more detailed view of an organisation’s carbon footprint compared to inventory-based methods, which focus only on direct emissions.
Spot/Forward Agreement
A Spot/Forward Agreement is a contract in carbon markets where two parties agree to buy or sell carbon credits or allowances at a specified price and future date. This helps parties manage their carbon emissions and costs by locking in prices, reducing the uncertainty of fluctuating carbon markets. This type of agreement is commonly used in the carbon markets to manage emissions and compliance with carbon reduction targets.
Streamlined Energy & Carbon Reporting (SECR)
Streamlined Energy & Carbon Reporting (SECR) is a mandatory reporting framework introduced in the UK in April 2019. It requires certain large businesses and public sector organisations to disclose their greenhouse gas emissions and energy use in annual reports. SECR aims to increase transparency, promote accountability, and encourage companies to reduce emissions and improve energy efficiency.
Supply Chain Emissions
Supply Chain Emissions are the greenhouse gas emissions associated with the production, transportation, and disposal of goods and materials within a company’s supply chain. These emissions are significant contributors to overall carbon emissions and reducing them is a key focus for companies striving to meet sustainability goals.
Sustainable Development Goals (SDG)
The Sustainable Development Goals (SDGs) are 17 global objectives set by the United Nations to achieve a more sustainable future. Four of these goals are directly related to climate action, including efforts to mitigate and adapt to climate change.
Sustainable Finance Disclosure Regulation (SFDR)
The Sustainable Finance Disclosure Regulation (SFDR), introduced by the European Union in March 2021, requires financial market participants—such as banks, insurance companies, and asset managers—to disclose information on sustainability risks and practices. The SFDR aims to increase transparency, improve sustainability disclosures, and support the transition to a more sustainable economy.
T
Task Force on Climate-related Financial Disclosures (TCFD)
The Task Force on Climate-related Financial Disclosures (TCFD) provides voluntary guidelines for organisations to disclose the financial impacts of climate change on their operations and investments. Established by the Financial Stability Board (FSB) in 2015, TCFD helps businesses assess and manage climate-related risks and opportunities.
Tipping Point
In the context of climate change, Tipping Point is the critical threshold at which the Earth’s climate system begins to experience irreversible or rapid changes. This can result from factors like the melting of glaciers or the release of greenhouse gases, leading to severe impacts such as extreme weather events, rising sea levels, and disruption to ecosystems.
Tradable Instrument for Global Renewables (TIGR)
Tradable Instrument for Global Renewables (TIGR) is an online platform for tracking and trading Renewable Energy Certificates (RECs) in regions including Asia, Africa, and the Americas.
Turquoise Hydrogen
Turquoise hydrogen is a new form of hydrogen produced through methane pyrolysis, a process that generates hydrogen and solid carbon. If powered by renewable energy and the carbon being permanently stored or used, turquoise hydrogen could emerge as a low-emission energy source in the future.
#hydrogen
Two-degree Limit/Two-degree Target
The two-degree limit refers to the global effort to restrict the average global temperature increase to 2°C above pre-industrial levels. This target, established by the UNFCCC, is crucial for preventing the most devastating impacts of climate change.
#parisclimateagreement
U
United Nations Framework Convention on Climate Change (UNFCCC)
The UNFCCC is an international treaty signed in 1992 to address global climate change. It serves as the main platform for global cooperation on climate action, facilitating negotiations to reduce greenhouse gas emissions and adapt to climate change impacts. The UNFCCC hosts the annual Conference of the Parties (COP) meetings, where the 196 countries that have ratified it, make decisions on climate policy.
Upstream Emissions
Upstream emissions are generated during the production and extraction of raw materials or energy sources used to make a product, before it reaches the consumer. For example, emissions from the extraction of oil and steel for car production are considered upstream emissions.
V
Validation
Validation is the process of having a qualified, accredited third party audit a carbon project to ensure that it meets the criteria for greenhouse gas reduction programs.
Value Chain Emissions
Value Chain Emissions refer to the greenhouse gas emissions generated throughout the entire life cycle of a product—from raw material extraction, manufacturing, and transportation to use and disposal. For example, emissions from transporting goods from a factory to a retail store, or during their disposal, are considered value chain emissions.
Verification
Verification is the process of having a third-party, accredited auditor confirm the authenticity of carbon credits after a carbon project has been completed and has generated credits.
Verified Carbon Standard (VCS)
The Verified Carbon Standard (VCS) is a certification system for carbon emission reductions, managed by the nonprofit Verra. It ensures that carbon reductions are real, measurable, and verifiable.
Verra
Verra is a certification standard for non-governmental emission reduction initiatives. It is involved in various climate and development projects, including the Clean Development Mechanism (CDM) and the Voluntary Carbon Market.
Vintage
Vintage refers to the year in which the greenhouse gas emissions reductions were achieved for a particular carbon credit. The vintage year may not always align with the year of the transaction and may even be in the future.
Volatile Organic Compounds (VOCs)
Volatile Organic Compounds (VOCs) are organic chemicals that impact indoor air quality and may pose health risks. Unlike greenhouse gases (GHGs), VOCs are not classified as GHGs but are commonly found in materials like paints, building products, and household items.
Voluntary Emission Reductions (VERs)
Voluntary Emission Reductions (VERs) are greenhouse gas reductions that individuals, businesses, or organisations voluntarily implement, but are not required by law. These reductions can be achieved through initiatives like investing in renewable energy or improving energy efficiency. VERs help reduce carbon footprints and support global emission reduction efforts.
Voluntary Carbon Market
The Voluntary Carbon Market allows individuals or organisations to purchase carbon credits voluntarily to offset their emissions. These credits represent the reduction or avoidance of greenhouse gases from projects such as renewable energy or reforestation.
Voluntary Commitments
Voluntary Commitments are actions or goals voluntarily undertaken by individuals or organisations without external pressure. These commitments, ranging from reducing greenhouse gas emissions to increasing charitable donations, are often made in support of environmental or social causes and demonstrate a commitment to sustainability.
Voluntary Offsets
Voluntary Offsets are carbon offsets purchased as part of a corporate sustainability program or by individuals to reduce their environmental impact.
W
White Hydrogen
White Hydrogen refers to naturally occurring hydrogen found in underground deposits, often created through fracking. Currently, there are no established methods to extract or use this hydrogen on a large scale.
Water Restoration Certificate (WRC)
A Water Restoration Certificate (WRC) certifies the purchase of 1,000 gallons (about 3,785 litres) of water to offset water usage and restore critical rivers or streams, particularly in areas where water is most needed.
Z
Zero Carbon
Zero Carbon refers to the absence of carbon emissions or the neutralisation of emissions through offsetting. It can be achieved through strategies like transitioning to renewable energy, improving energy efficiency, and utilising carbon capture and storage technologies.
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