C

Carbon accounting
By regularly calculating their corporate carbon footprint (a process known as carbon accounting), businesses can understand and analyse the carbon impact of their operations and supply chains, fulfil carbon reporting requests, and identify opportunities to reduce emissions.

Carbon dioxide equivalents (CO2e)
CO2e is a unit of measurement used to express the impact of different greenhouse gases in terms of the amount of CO2 that would create the same amount of global warming. It helps standardise and compare the emissions from various gases, such as methane, nitrous oxide, and fluorinated gases, by converting them into their CO2 equivalent based on their global warming potential (GWP).

Carbon footprint
The carbon footprint of a company is the total amount of greenhouse gas (GHG) emissions produced by a company’s operations, supply chains, products, and services. This includes direct and indirect emissions across three Scopes (1, 2 and 3).

Carbon offsetting
As a company, it is very difficult to reduce your climate impact to zero. With carbon offsetting, you compensate for the emissions you cannot mitigate yourself by participating in schemes designed to make equivalent reductions of carbon dioxide in the atmosphere. Some common examples of projects include reforestation, building renewable energy and carbon-storing agricultural practices.

Carbon reduction plan
A reduction plan is a strategy implemented by a business or organisation in order to reduce its emissions. It typically includes measures such as energy efficiency, renewable energy and transportation, amongst many others.

CSRD
(Corporate Sustainability Reporting Directive) – A regulatory framework proposed by the European Union to enhance transparency and accountability in corporate sustainability reporting.

E

Emissions intensity
Emissions intensity is a measure of the volume of emissions produced against another relevant unit or business metric. The purpose of using emissions intensity (versus absolute/total emissions) is to make emissions data comparable across different industries, sectors, or countries, and over time.

Emissions per employee
Emissions per full-time equivalent employee is a measure of the greenhouse gas emissions (GHG) generated by an organisation or a business unit per employee. It is often used as an indicator of the environmental impact and efficiency of a company. Emissions per FTE can be calculated by dividing the total GHG emissions by the average number of FTEs in a given period.

Emissions per revenue
Emissions per unit of revenue is a measure of the amount of greenhouse gas emissions produced per unit of revenue generated. It is a useful metric for businesses to track their environmental impact. According to the CDP, it is one of the most common and easy means to calculate emissions intensity.

ESG
(Environmental, Social, and Governance) – A set of criteria used to evaluate a company’s performance and impact in areas related to sustainability, social responsibility, and corporate governance.

ESRS
(Environmental and Social Responsibility Standards) – Guidelines and practices adopted by organisations to ensure responsible environmental and social behavior in their operations and supply chains.

Emissions intensity
Emissions intensity is a measure of the volume of emissions produced against another relevant unit or business metric. The purpose of using emissions intensity (versus absolute/total emissions) is to make emissions data comparable across different industries, sectors, or countries, and over time.

ESRS VSME
(Environmental and Social Responsibility Standard for Voluntary Small and Medium Enterprises) – Specific standards and guidelines tailored for smaller businesses to promote environmental and social responsibility in their operations.

F

FTE
FTE stands for full-time equivalent, a measure of how many total full-time or part-time employees your company has. Temporary workers and long-term consultants are often included. A half-time position corresponds to 0.5 FTE and services at 80% to 0.8 FTE.

G

GHG Protocol
The calculations and report are based on the Greenhouse Gas Protocol (GHG Protocol), which is the main global standard for reporting greenhouse gas emissions. Its standards apply to operations, value chains, and climate change mitigation actions.

Gold Standard
The Gold Standard is one of the most widely respected carbon offset standards available on the market and is a quality seal for climate finance projects. The certification is run by a global, non-profit foundation that was started in 2003 by several environmental organisations, including WWF and Fairtrade. The projects that are certified are of the highest quality and are regularly monitored by independent third parties. In addition to creating climate benefits, the project developer must take social responsibility, by for example creating jobs for the local community, contributing to nearby schools or improving the infrastructure in the area. In addition, the projects must contribute to at least three of the UN’s global sustainability goals.

N

NSRS
(National Sustainability Reporting Standards) – Standards established at national level to guide organisations in reporting their sustainability performance and impacts within a specific country or region.

R

Refrigerants
Refrigerants are substances that are used in cooling systems. They are included in carbon accounting, as they contribute to the direct (Scope 1) emissions of the entity that owns or controls the equipment that uses them.

S

Scopes
The GHG Protocol divides greenhouse gas emissions into three scopes:
Scope 1: contains the company’s direct greenhouse gas emissions. For example, a company’s vehicles and machinery, or the burning of fossil fuels for heating or production processes.
Scope 2: includes the company’s indirect greenhouse gas emissions. For example, from purchased electricity, heating, cooling and steam.
Scope 3: includes all other indirect greenhouse gas emissions from sources not owned or controlled by the company. For example, logistics, air travel and purchase of products and services.

SDG
(Sustainable Development Goals) – A collection of 17 global goals set by the United Nations to address various social, economic, and environmental challenges and promote sustainable development worldwide.

T

Trailing 12 months
Trailing 12 months (TTM) is a term used to describe the past 12 consecutive months of a company’s performance data.