Glossary

Carbon Credit is a generic term for any tradable certificate or permits representing the right to emit a set amount of carbon dioxide or the equivalent greenhouse gases. Carbon credits are generated from global projects that pull Greenhouse Gases (GHGs) out of the atmosphere or keep emissions from being released. One credit permits the emission of one ton of carbon dioxide or the equivalent of other greenhouse gases. Typically companies that have exceeded their carbon emission limit will be purchasing Carbon Credit to offset the GHG released by the organization.

Carbon footprint is the total amount of greenhouse gases (including carbon dioxide and methane) generated by our actions. It can be from travel activity, electricity, or even how much we consume food.

Link: https://tinyurl.com/r5ms7r5b

Both terms refer to a situation whereby a company removes or captures more CO2 from the atmosphere than it even emits. As a result, the company has negative carbon emissions and positively impacts the climate. 

Carbon neutrality means balancing emitting and absorbing carbon from the atmosphere in carbon sinks. 

Carbon Offset is an action or activity (such as the planting of trees or carbon sequestration) that compensates for carbon dioxide or other greenhouse gases emission into the atmosphere.

Carbon Trading refers to buying and selling the right to produce carbon dioxide emissions so that people, countries, or companies who use a lot of fuel and electricity can buy rights from those that do not use so much.

Link: https://tinyurl.com/5n8wcyzy

Carbon Capture Utilisation and Storage, or CCS, is a geoengineering or climate engineering approach. It reduces carbon dioxide emissions by capturing carbon dioxide and permanently storing it underground.

Link: https://tinyurl.com/yc7p4hn6

The circular economy is a production and consumption model involving sharing, leasing, reusing, repairing, refurbishing, and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended.

COP, or Conference of the Parties, is a global climate summit joined by almost all countries worldwide to address and tackle the pressing issue of climate change. The most recent COP, widely known as COP 27, was held in Sharm El-Sheikh in November 2022. 

In the simplest form, CSR includes all the practices put in place by companies to contribute to social and environmental impact positively.