Acroynms for Sustainability Flashcards
(28 cards)
What does GRI stand for and it’s description?
Sector-overarching sustainability reporting standards aiming to inform all stakeholders
What does SASB stand for and it’s description?
Sector specific reporting framework focused on financial materiality and geared towards investor and capital providers
What does UN SDGs stand for and it’s description?
The United Nations Sustainability Development Goals were established in 2015 and is a pact signed by businesses pledging to adopt sustainable practices aligned wiht the SDGs
What does IIRC stand for and it’s description?
International Integrated Reporting Council is a reporting framework aiming to link traditional financial and sustainability disclosure. Recently merging with SASB (Sustainability Accounting Standards Board) in the value reporting
What does CDP stand for and it’s description?
CDP is the Carbon Disclosure Project, which is a non-profit with a focus on data collection and content for climate reporting
What does CDSB stand for and it’s description?
The Climate disclosure standards board is a non-profit global environmental disclosure framework geared towards investors and financial markets
What does TCFD stand for and it’s description?
The Task Force on Climate related Financial Disclosures is a climate-related risk disclosure focsued on financial impacts of ESG risks
What is the GHG Protocol?
The Green House Gas Proctocol is greenhouse gas accounting standrds and comprehensive calculation guides
What does SBTi stand for and it’s description?
Science Based Targeted Initivatives is an association of approving emissions targets in line with the Paris Agreement (a 1.5C Reduction by 2030)
What does ESG stand for and it’s description?
Environmental, Social and Governance, which refers to the three key factors when measuring the sustainability and ethical impact of an investment in a business or company. Most socially responsible investors check companies out using ESG criteria to screen investments
What does KPIs stand for and it’s description?
Key Performance Indicators are targets that help you measure progress against your most strategic objectives. WHile organizations can have may different types of metrics, KPIS are targets that are “key” to the success of the business
What are some examples of what ESG metrics capture?
E - climate hange impacts across supply chain
S - employees, suppliers used, customer relatios, ethics, diversity, social justice
G - Corpoate governance aspects
What are a few benefits to adopting ESG as a framework?
- Increased likelihood to adopt renewable energy sources
- Better employee relations, which reduces turnover & imporved morale
- Improve financial performance,
- typically out performers traditional investments over the long term
-customers and consumers are interested in purchasing products with good ESG scores - Can help businesses improve their sustainability practices and reduce their impact envirnmenally
What does ISSB stand for and it’s description?
The international sustainability standards board
What are the three different types of scopes in terms of GHG emmissions metrics?
Scope 1- emissions metrics would capture KPIs (key performance indicators) related to direct emissions from owned or controlled sources.
Scope 2 emmissions metrics would capture KPIS related to indirect from the generation of purcahsed energyu consumption
Scope 3 - emmissions metrics would represent KPIs related to suppliers
What is a GHG protocol
It’s setup for companies to assess their entire value chain emissions impact and identify where to focus GHG reduction activities.
What is the greenhouse effect?
A process that occurs when certain gases in the Earth’s atmosphere trap heat. CO2, methane, nitrous oxide are all examples.
What are some measures to reduce GHG Emmissions for a company and their ESG initiatives?
- Energy efficiency measures
- renewable energy projects
-changes to industrial processes
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What are some common metrics to measure renewable energy consumption
- renewable energy share - represents the percentage of the total energy that comes from renewable sources.
- Renewable energy intensity - measures the renewable energy consumed per unit of output. This metric can be used to compare the renewable energy consumption of different manufacturing companies, or track the renewable enrgy intensity of a single company over time
- renewable energy footprint - measures the renewable energy consumed per unit of land use.
What is water footpirnt
The metric that measures the total amount of fresh water used by a company - including the water used in its manufacturing processes, as well as the water used by its employees/customers
Steps to transition to investor grade, tech-enabled reporting
- Determine climate reporting strategy
- Choose standards & metrics
- collect the data
- address risk, controls & information governance
- tech-enabled & automate
- Publish investor grade reporting
What does ISO 14001 mean?
ISO 14000 is a family of standards related to environmental management that exists to help organizations minimize how their operations negatively affect the environment; comply with applicable laws, regulations, and other environmentally oriented requirements; and continually improve in the above.
What is LCA?
Life Cycle Analysis is ife cycle analysis (LCA) is a method used to evaluate the environmental impact of a product through its life cycle encompassing extraction and processing of the raw materials, manufacturing, distribution, use, recycling, and final disposal.
What is EcoVadis?
EcoVadis operates an evidence-based online platform, providing supplier sustainability ratings and allowing companies to assess the ESG performance of their global suppliers
