Glossary

Environmental debt is the accumulation of past environmental impacts, depletion of natural resources, and environmental degradation owed to future generations.

The disconnect between what we say we do and what we actually do is referred to as the "say-do gap". We all know such situations and this applies likewise to individuals, organisations and governments.

Scope 3 emissions are all sources that are not within an organization's Scope 1 and Scope 2 boundaries. Scope 3 includes all other indirect emissions that occur in a company's value chain, such as business travel, purchased goods and services, waste disposal and employee commuting. In many sectors, these emissions make up a large part of a company's emissions scale, but because they are generally outside of a company's direct control, they are difficult to account for.

This means they are often overlooked, making net zero goals unattainable. Although rarely measured, depending on the nature of the business, Scope 3 emissions can be the largest source of a company's emissions and even represent multiples of the impacts of Scope 1 and 2. Until now, most companies have focused on measuring Scope 1 and Scope 2 emissions, as these are the emissions over which they have the most control. However, with climate catastrophe requiring immediate action, there is a growing need to reduce greenhouse gas emissions wherever possible and companies are increasingly expected to better understand their true carbon footprint by taking more responsibility in Scope 3 take over accounting.

Return on Carbon Investment (RoCI) is a potent financial indicator that unequivocally shows the significant financial benefits of funding carbon reduction initiatives. Despite this, attempts to reduce carbon emissions are frequently disregarded or underestimated because people are unaware of the possible financial advantages. By assessing the net benefits of lowering carbon emissions and dividing them by the costs of putting carbon reduction measures into action, RoCI helps to address this. This paints a clear picture of the financial return on investment in efforts to reduce carbon emissions, which is frequently much higher than the costs. Companies can make informed decisions that not only lessen their environmental effect but also generate financial rewards and long-term commercial success by using RoCI to evaluate the viability of investing in carbon reduction.

Scope 1 emissions are direct greenhouse (GHG) emissions that occur from sources that are controlled or owned by an organization (e.g., emissions associated with fuel combustion in boilers, furnaces, vehicles). 

Scope 2 emissions are indirect GHG emissions associated with the purchase of electricity, steam, heat, or cooling. Although scope 2 emissions physically occur at the facility where they are generated, they are accounted for in an organization’s GHG inventory because they are a result of the organization’s energy use.

A digital carbon footprint is the CO2 emissions resulting from the production, use and data transfer of digital devices and infrastructure. In an increasingly digital world, our day to day lives have transformed with the use of technology. From endless remote meetings to a multitude of apps and streaming services to choose from, we’re consumed with being online and connected. As a result, the use of electrical devices and the volume of data we generate is booming.

Carbon is the chemical backbone of life on Earth. Carbon compounds regulate the earth's temperature, form the food that nourishes us, and provide the energy that powers our global economy. Most of the carbon on earth is stored in rocks and sediments. The rest is in the ocean, in the atmosphere, and in living organisms. These are the reservoirs through which carbon cycles are conducted. Human activities have an enormous impact on the carbon cycle. The carbon footprint measures the impact of human activities on greenhouse gases (GHG). Specifically, carbon dioxide, or CO2, released by burning fossil fuels (coal, gasoline) to produce and meet all of our consumption needs.

Net-zero refers to the balance between the amount of greenhouse gases that are emitted into the atmosphere and the amount that are removed from the atmosphere. A net-zero organization, company, or country is one that has achieved this balance by either reducing its greenhouse gas emissions to zero or offsetting its emissions through activities that remove an equivalent amount of greenhouse gases from the atmosphere (such as tree planting or carbon capture and storage). The goal of achieving net-zero status is to stabilize the concentration of greenhouse gases in the atmosphere and limit the global temperature increase to below 2°C, as agreed upon in the Paris Agreement. By achieving net-zero status, organizations and countries can play a significant role in combating climate change and helping to protect the planet for future generations.