Difference between revisions of "Definitions"
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===Scope 1=== | ===Scope 1=== | ||
According to the GHG emissions protocol, scope 1 emissions entail all the GHG emissions that occur from sources that are <blockquote>owned or controlled by the company, for example, emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc.; emissions from chemical production in owned or controlled process equipment.<ref>World Business Council for Sustainable Development ad the World Resources Institute. ''The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard, revised edition,'' p. 25, n.d., (accessed on May 31st 2022). https://ghgprotocol.org/sites/default/files/standards/ghg-protocol-revised.pdf</ref></blockquote>However, direct CO2 emissions that occur from the combustion of biomass are not included in scope 1, but have to be reported separately. Additional GHG emissions that are not covered are Chlorofluorocarbon (CFCs) and NOx, despite these gasses having large ozone-depleting effects. | According to the GHG emissions protocol, scope 1 emissions entail all the GHG emissions that occur from sources that are <blockquote>owned or controlled by the company, for example, emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc.; emissions from chemical production in owned or controlled process equipment.<ref>World Business Council for Sustainable Development ad the World Resources Institute. ''The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard, revised edition,'' p. 25, n.d., (accessed on May 31st 2022). https://ghgprotocol.org/sites/default/files/standards/ghg-protocol-revised.pdf</ref></blockquote>However, direct CO2 emissions that occur from the combustion of biomass are not included in scope 1, but have to be reported separately. Additional GHG emissions that are not covered are Chlorofluorocarbon (CFCs) and NOx, despite these gasses having large ozone-depleting effects.<ref>MIT News. ''Emissions of several ozone-depleting chemicals are larger than expected,'' published on March 17th 2020, (accessed on May 31st 2022), https://news.mit.edu/2020/emissions-ozone-cfc-chemicals-0317</ref> | ||
For financial institutions, scope 1 includes the emissions on loans and investments. | For financial institutions, scope 1 includes the emissions on loans and investments.<ref>Partnership for Carbon Accounting Financials. ''The Global GHG Accounting & Reporting Standard for the financial industry, p. 31,'' published on November 18th 2020, (retrieved on May 31st 2022), https://carbonaccountingfinancials.com/files/downloads/PCAF-Global-GHG-Standard.pdf</ref> | ||
===Scope 2=== | ===Scope 2=== | ||
The GHG emission protocol states that scope 2 accounts for the:<blockquote>Generation of purchased electricity consumed by the company. Purchased electricity is defined as electricity that is purchased or otherwise brought into the organizational boundary of the company. Scope 2 emissions physically occur at the facility where electricity is generated.<ref>World Business Council for Sustainable Development ad the World Resources Institute. ''The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard, revised edition,'' p. 31, n.d., (accessed on May 31st 2022). https://ghgprotocol.org/sites/default/files/standards/ghg-protocol-revised.pdf</ref></blockquote>According to the World Resources Institute, approximately 40% of the world’s GHG emissions come from energy generation, and about half of that is consumed by industrial or commercial users.<ref>World Resources Institute. ''Scope 2: Changing the way companies think about electricity emissions,'' published on January 20th 2015, (accessed on May 31st 2022), https://www.wri.org/insights/scope-2-changing-way-companies-think-about-electricity-emissions</ref> | |||
===Scope 3=== | ===Scope 3=== | ||
===Megatonnes=== | ===Megatonnes=== | ||
Revision as of 16:04, 31 May 2022
This wiki paged is used to provide a definition of some of you terms and concepts you might come across on the company pages.
Emissions
GHG emissions
Greenhouse gas (GHG) emissions are all the different gasses that absorb heat (infrared radiation) emitted from Earth, and consequently reflect it back onto Earth’s surface hence contributing to the greenhouse effect, more commonly known as global warming.[1] This includes carbon dioxide (CO2), methane (CH4), and water vapor, as well as nitrous oxides and surface-level ozone. As a result of certain human activities such as the emission of fossil fuels, the greenhouse effect has become stronger over time. This is because there is now more carbon dioxide in the Earth’s atmosphere. For more in-depth reading, refer to the following source.
Increased CO2 is most frequently attributed as being the main cause of worsened human-induced global warming. However, it is vital to be aware that there are other, non-CO2, substances that are equally as polluting. In the aviation industry for instance, persistent contrails, aviation induced cirrus, and nitrogen oxides (NOx) contribute more significantly to global heating than ‘just’ CO2 emissions. NOx for example contributes to ozone formation, causing smog in and near cities and other areas of the country.[2]
Scope 1
According to the GHG emissions protocol, scope 1 emissions entail all the GHG emissions that occur from sources that are
owned or controlled by the company, for example, emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc.; emissions from chemical production in owned or controlled process equipment.[3]
However, direct CO2 emissions that occur from the combustion of biomass are not included in scope 1, but have to be reported separately. Additional GHG emissions that are not covered are Chlorofluorocarbon (CFCs) and NOx, despite these gasses having large ozone-depleting effects.[4]
For financial institutions, scope 1 includes the emissions on loans and investments.[5]
Scope 2
The GHG emission protocol states that scope 2 accounts for the:
Generation of purchased electricity consumed by the company. Purchased electricity is defined as electricity that is purchased or otherwise brought into the organizational boundary of the company. Scope 2 emissions physically occur at the facility where electricity is generated.[6]
According to the World Resources Institute, approximately 40% of the world’s GHG emissions come from energy generation, and about half of that is consumed by industrial or commercial users.[7]
Scope 3
Megatonnes
Climate Agreements
Paris Climate Agreement
Dutch Climate Agreement
Katowice Agreement
Company structure
Subsidiaries
Dividends
- ↑ Britannica. Greenhouse gas: atmospheric science (accessed on May 31st 2022), https://www.britannica.com/science/greenhouse-gas
- ↑ EPA. Aircraft Contrails Fact Sheet, p. 5, published in September 2000, (accessed on May 31st 2022), https://www.faa.gov/regulations_policies/policy_guidance/envir_policy/media/contrails.pdf
- ↑ World Business Council for Sustainable Development ad the World Resources Institute. The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard, revised edition, p. 25, n.d., (accessed on May 31st 2022). https://ghgprotocol.org/sites/default/files/standards/ghg-protocol-revised.pdf
- ↑ MIT News. Emissions of several ozone-depleting chemicals are larger than expected, published on March 17th 2020, (accessed on May 31st 2022), https://news.mit.edu/2020/emissions-ozone-cfc-chemicals-0317
- ↑ Partnership for Carbon Accounting Financials. The Global GHG Accounting & Reporting Standard for the financial industry, p. 31, published on November 18th 2020, (retrieved on May 31st 2022), https://carbonaccountingfinancials.com/files/downloads/PCAF-Global-GHG-Standard.pdf
- ↑ World Business Council for Sustainable Development ad the World Resources Institute. The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard, revised edition, p. 31, n.d., (accessed on May 31st 2022). https://ghgprotocol.org/sites/default/files/standards/ghg-protocol-revised.pdf
- ↑ World Resources Institute. Scope 2: Changing the way companies think about electricity emissions, published on January 20th 2015, (accessed on May 31st 2022), https://www.wri.org/insights/scope-2-changing-way-companies-think-about-electricity-emissions