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Klimate Smart Glossary
Our glossary is a valuable tool for anyone looking to make informed decisions, engage in meaningful discussions, or simply broaden their knowledge about climate-related topics. We invite you to explore this resource, expand your understanding.
Join us in our commitment to building a more sustainable and climate-resilient future.
C.
COP26
The 26th Conference of the Parties (COP26) was held in Glasgow, Scotland in November of 2021.
Carbon avoidance
Carbon avoidance projects contribute to climate action by preventing carbon that would have otherwise been released into the atmosphere.
Carbon credit
A carbon credit is a tradable certificate or unit representing the reduction of one tonne of carbon dioxide equivalent (tCO2e) from the atmosphere.
Carbon neutral
Carbon neutrality is a state of net-zero carbon dioxide emissions.
Carbon offset
Carbon offsetting refers to the act of using carbon credits to make a claim for offsetting some of the greenhouse gas emissions generated by a company or individual.
Carbon removal
Carbon dioxide removal (CDR) is a process in which carbon dioxide is proactively removed from the atmosphere and sequestered for long periods of time.
Climate Positive / Carbon Negative
Climate positive, also known as carbon negative, means that an organisation is actively removing existing carbon from the atmosphere.
D.
Decarbonisation
This refers to the transition towards an economy that reduces and avoids carbon emissions, especially in the energy industry.
In the decarbonisation process, fossil fuels are replaced by renewable energy sources to reduce or even completely avoid greenhouse gas emissions. Decarbonisation will transform our energy supply.
E.
ESG
This stands for Environmental, Social, and Governance, and is a holistic framework that measures the sustainable and ethical behaviour of a business.
The criteria ensure that a business is being socially responsible and held accountable, which is in the best interest of shareholders and potential investors.
G.
Greenhouse gas
A greenhouse gas (GHG) is a gas that traps heat in the atmosphere. The primary greenhouse gases in Earth's atmosphere are water vapour (H2O), carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), and ozone (O3). Human activities are the primary driver of the increase of carbon dioxide and methane in the atmosphere.
K.
Kyoto Protocol
The Kyoto Protocol is an international climate agreement under which certain countries agreed to place legally binding limits on their greenhouse gas (GHG) emissions. It was first adopted in 1997, before being ratified in 2005 by every industrialised country in the world except the United States, as well as by many emerging economies. Today, there remain 191 parties to the Kyoto Protocol, but it has been superseded by the Paris Agreement.
N.
Net Zero
Net zero emissions are achieved when all emissions of greenhouse gases to the atmosphere, caused by all human activity, are balanced by the same amount removed from the atmosphere over a specified period.
P.
Paris Agreement
The Paris Agreement is a landmark international treaty on climate change. Adopted by 196 countries in 2015, the Paris Agreement is the first agreement to place legally binding targets on all parties for reducing greenhouse gas (GHG) emissions. The overarching goal of the Paris Agreement is clear: to limit global temperature increase to 2 °C above pre-industrial levels, and ideally only 1.5 °C. To do so, it envisions a neutral balance of global GHG emissions by the middle of the 21st century.
S.
SDG's
The 17 Sustainable Development Goals of the United Nations (UN) are a roadmap for sustainable global development. They encompass economic, ecological, and social aspects and are part of the 2030 Agenda for Sustainable Development. The goal of this Agenda is to promote global peace and well-being in a sustainable manner. The SDGs are for everyone: governments, civil society, the private sector, science, and every individual. For this reason, countries have been working since 2016 to frame the shared vision in national development plans and fight against issues like poverty and for causes such as equality. It is exceptionally important to focus on the needs of the most vulnerable demographic groups and countries in the process because it will not be possible to accomplish the 17 SDGs by 2030 if anyone is left behind.
Scope 1, 2 and 3 emissions
In order to take climate action and become carbon neutral or reach net zero, a company needs to categorise and measure their greenhouse gas emissions.
T.
Task force on Climate-related financial disclosures
In 2015 the Financial Stability Board created a body called the Task Force on Climate-related Financial Disclosures (TCFD).
V.
Voluntary Carbon Market
The voluntary carbon market (VCM) has emerged alongside the compliance market to enable companies and individuals to take responsibility for their emissions. This is done by financially supporting climate projects by trading and purchasing Verified Emission Reductions (VERs) on the VCM. The United Nations Framework Convention on Climate Change (UNFCCC) forms the basis for this form of voluntary carbon offsetting.