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Sustainability Glossary / Terminology

Sustainability Glossary / Terminology

B Corporation - a type of company that meets rigorous standards of social and environmental performance, transparency, and accountability.

Carbon Footprint - the total amount of greenhouse gas emissions that are directly and indirectly attributed to a product, service, or organisation.

Carbon Offsetting - a way for companies to mitigate their greenhouse gas emissions by investing in projects that reduce emissions, such as renewable energy or reforestation.

Circular Economy - an economic system that aims to minimize waste and maximise the use of resources by keeping materials in use and cycling them through the economy.

Climate Adaptation - the process of adjusting to the effects of climate change, such as sea level rise, more frequent extreme weather events, and changing rainfall patterns.

Closed-Loop System - a system that minimises waste by capturing and reusing materials and resources in a continuous cycle.

Corporate Social Responsibility (CSR) - a company's responsibility to consider the social, environmental, and economic impacts of its operations and to take steps to address these impacts.

Decarbonisation - the process of reducing or eliminating greenhouse gas emissions from a company's operations or products.

Double materiality - a concept in sustainability that recognises that a company's actions and decisions can affect not only its own financial performance, but also the environment and society around it. In other words, it's important to consider not just how a company is impacted by sustainability issues, but also how the company's actions impact sustainability issues. By taking both of these factors into account, companies can make more informed and responsible decisions that benefit both themselves and the world around them.

Eco-Labels - labels or certifications that indicate that a product or service meets certain environmental standards, such as being made with recycled materials or having a low carbon footprint.

Energy Efficiency - using less energy to achieve the same outcome, such as by upgrading buildings with better insulation or using more efficient appliances.

Environmental Impact Assessment - a study of the potential environmental impacts of a proposed project or development, and the identification of measures to mitigate those impacts.

Environmental Management System - a framework for managing a company's environmental impacts, including policies, procedures, and performance metrics.

ESG - stands for Environmental, Social, and Governance, which are three key areas that companies are increasingly being evaluated on by investors and stakeholders.

Fair Trade - a movement that promotes fair prices, wages, and working conditions for workers in developing countries.

Green Bonds - bonds that are issued to fund environmentally beneficial projects, such as renewable energy or energy efficiency improvements.

Green Infrastructure - natural or engineered systems that provide environmental benefits, such as absorbing and filtering stormwater, reducing the urban heat island effect, or providing habitat for wildlife.

Greenhouse Gases - gases that trap heat in the Earth's atmosphere and contribute to climate change, such as carbon dioxide, methane, and nitrous oxide.

Greenwashing - when a company promotes itself as environmentally friendly or sustainable without actually taking meaningful actions to reduce its environmental impact.

Life Cycle Assessment (LCA) - a method for evaluating the environmental impacts of a product or service throughout its entire life cycle, from raw material extraction to disposal.

Materiality Assessment - a process of identifying and prioritizing the most important sustainability issues for a company or organisation, based on their significance to stakeholders and the business itself.

Natural Capital - the resources and services that nature provides, such as clean air and water, fertile soil, and biodiversity.

Renewable Energy - energy sources that can be replenished naturally, such as solar, wind, or hydropower.

Renewable Materials - materials that come from renewable sources, such as sustainably harvested wood, bamboo, or agricultural waste products.

Resilience - the ability of a system, such as a business or community, to withstand and recover from shocks or stresses, such as natural disasters or economic downturns.

Social Entrepreneurship - a business model that prioritises social or environmental impact over profit, and often involves addressing social or environmental challenges through innovative solutions.

Stakeholder - anyone who is affected by a company's operations, including customers, employees, investors, and communities.

Stakeholder Engagement - the process of involving stakeholders in decision-making and considering their needs and concerns.

Supply Chain - the network of companies and organizations involved in producing and delivering a product or service.

Sustainability - the ability to meet the needs of the present without compromising the ability of future generations to meet their own needs.

Sustainable Agriculture - agricultural practices that prioritize environmental stewardship, biodiversity, animal welfare, and social responsibility, and minimize negative impacts on soil, water, and air quality.

Sustainable Development Goals (SDGs) - a set of 17 goals adopted by the United Nations to achieve a sustainable future for all by 2030.

Sustainable Investing - investing in companies or funds that prioritize environmental, social, and governance factors, in addition to financial returns.

Sustainable Procurement - the practice of purchasing goods and services that have been produced sustainably and ethically, and considering the environmental and social impacts of the entire supply chain.

Triple Bottom Line - a framework for measuring a company's performance based on three areas: social, environmental, and economic.

Zero Waste - a philosophy and goal of minimizing waste and moving towards a circular economy, where all materials are kept in use and nothing is sent to landfill or incineration.

"They walk the talk like us."

TrueESG exceed expectations with their expertise and high-calibre team.

As an innovative partner, their advice enables us to drive meaningful and positive change across our business to drive better outcomes for our clients' success. They demonstrate a genuine commitment to action, walking alongside Altum's ESG journey every step of the way.

Zena Couppey

Altum Group CEO

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