Glossary

CO2-EQUIVALENT EMISSIONS

CO2e is a unit of measure that allows to evaluate different greenhouse gases (GHGs)emissions with different global warming potential (GWP) effects. For example, a ton of methane that has a GWP potential 21 times higher than CO2, is accounted for as 21 tonnes of CO2-equivalent.

Emissions can be subdivided into the following groups or scope:

DIRECT EMISSIONS (SCOPE 1) OF GREENHOUSE GASES

Scope 1 covers all direct GHG emissions by a company. It includes fuel combustion, company vehicles and fugitive emissions. The control that a company has with regard to the GHG emission sources can be of a financial nature, ie if the company has the capability to direct the financial and operational policies of the production processes. Or operational if it has the full authority (including on its subsidiaries), at operational level, to introduce and implement their own operational policies.

ENERGY CONSUMPTION GAS EMISSIONS (SCOPE 2)

Greenhouse gas (GHG's) emissions from the production of electricity, heat or steam imported and consumed by the company.

OTHER INDIRECT GAS SERIES EMISSIONS (SCOPE 3)

Other GHG emissions, which are a consequence of a company's business, but arising from greenhouse gas sources, or from physical units or processes that release GHGs in the atmosphere, owned or controlled by other companies.

CARBON FOOTPRINT

Literally, "Carbon Footprint" represents the amount of greenhouse gases generated by an organization, understood as a group, company, enterprise, body or institution, or by a product. The carbon footprint of an organization is the outcome of all the organization’s activities carrying out its normal activities. The carbon footprint of a product is the outcome of all the production processes necessary for the realization of that product. The calculation of an organization's and product's carbon footprint is governed by two standards of the ISO standard, ISO 14064-1 (organization), and ISO 14067 (product).

LCA (Life Cycle Assessment)

A "Life Cycle Assessment" is a method that evaluates a set of interactions / impacts that a product or service has with the environment, considering its entire life cycle, from the preproduction stages (production of materials used, extraction of raw materials, etc.), production, distribution to the stage of use, use, reuse (if applicable), maintenance, recycling and final disposal.
The LCA calculation procedure is internationally standardized by ISO 14040 and ISO 14044 standards.

GREEN PROCUREMENT

"Green procurement" is a term used to indicate the integration of environmental considerations into the purchasing procedures to be able to choose those products and / or services that have a lower impact on human health and, particularly, on the environment taking into account the environmental impacts that the product / service may have during its life cycle, from raw material extraction, to waste disposal.
Technically, Green Procurement involves the possibility of entering environmental qualification criteria into the demand when purchasing goods and services.

CDP (Carbon Disclosure Project)

The Carbon Disclosure Project is an international initiative whose goal is to regularly assess the strategies to tackle Climate Change challenge by the most important global companies through, for example, monitoring energy policies and performance of businesses and their ability to handle economic opportunities and climate risks.

CARBON CREDIT

Il credito di carbonio è una vera e propria unità di carattere finanziario che rappresenta la rimozione di una tonnellata di CO2 equivalente dall’atmosfera.
Un credito di carbonio certificate, ovvero generato da un progetto sviluppato secondo determinati requisiti, viene indicato con una delle seguenti sigle:

VER (Verified Emission Reduction)

A carbon credit, issued by a third party standard (typically Gold Standard) for use in the voluntary carbon market. A VER represents the removal of one metric tonne of CO2 equivalent from the atmosphere.

CER (Certified Emissions Reduction)

A carbon credit, issued by a third party standard (typically UNFCCC CDM Standard) for use in the compliance carbon market. A CER represents the removal of one metric tonne of CO2 equivalent from the atmosphere.

VCU (Verified Carbon Unit)

A carbon credit, issued by a third party standard (typically Verified Carbon Standard) for use in the compliance carbon markets. A VCU represents the removal of one metric tonne of CO2 equivalent from the atmosphere.

CARBON STANDARD

The Carbon Standard outlines a set of rules and procedures used to properly develop a Carbon Project, a project to mitigate greenhouse gas (GHG) emissions into the atmosphere. These standards ensure that GHG emission reduction is real and correctly measured.

SCIENCE BASED TARGET

It is an initiative promoted by Carbon Disclosure Project (CDP), UN Global Compact (UNGC), World Resource Institute (WRI) and WWF to enable companies to set targets for greenhouse gas emission reduction (GHG).
The term Science Based means that the goals adopted by companies are in line with the level of decarbonization required to keep the global temperature rise below 2 ° C compared to the average temperature of the pre-industrial period, as described in the "Fifth Assessment Report "of the Intergovernmental Panel on Climate Change (IPCC).
Science Based Target lies within a wide range of initiatives aimed at achieving certain environmental goals, such as:
We Mean Business: Work with the largest companies globally to guide them towards more effective environmental policies and accelerate the transition to a "low-carbon" economy.
Supply Change: is a global data aggregation platform that tracks commitments and progress towards the elimination of deforestation caused by the supply of some of the major commodities (palm, soybean, timber and livestock) through their supply chains.
RE100: an initiative that brings together more than 100 large global companies, committed to using 100% energy from renewable sources as well as working to boost demand and improve their distribution.
Climate Neutral Now: It represents a growing movement of companies and governments that are committed to reducing emissions and pursuing a climate-neutral future.
Carbon Pricing Leadership Coalition (CPLC): is a coalition that brings together political leaders, the private sector and civil society with the goal of expanding the use of carbon pricing policies to maintain competitiveness, job creation, encouraging innovation and reducing emissions. Through CPLC, partners collaborate to share their experiences and develop effective carbon pricing policies jointly.

CLIMATE FINANCE

Climate finance refers to both private and public financing - channeled by regional, national and international entities - for climate change mitigation and adaptation projects and programs. This includes climate specific support mechanisms like carbon credits and financial aid for mitigation and adaptation activities to spur and enable the transition towards low-carbon, climate-resilient growth and sustainable development.

SUSTAINABLE DEVELOPMENT GOALS (SDGs)

The Sustainable Development Goals (SDGs), also known as the Global Goals, are a worldwide call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. The set of 17 SDGs where adapted in 2015 by United Nations (UN) and it’s member countries as part of the 2030 Agenda for Sustainable Development. As an example the SDG 13 calls to take urgent action to combat climate change mitigation and adaptation.

KPIs (Key Performance Indicators)

Un Indicatore di Performance è un valore misurabile che dimostra come effettivamente un’azienda stia raggiungendo i propri obiettivi strategici.
Le aziende utilizzano gli Indici di Performance a livelli multipli per valutare i successi attraverso il raggiungimento di obiettvi. Un Indice di Performance di alto livello può focalizzare l’attenzione sulle performance complessive dell’azienda mentre un Indice di Performance di livello basso può dare indicazioni su processi specifici di determinati reparti come ad esempio vendite, marketing o call center.

CLIMATE AGREEMENT

Paris Agreement

The Paris Agreement (French: Accord de Paris), also known as Paris climate agreement, is an agreement within the United Nations Framework Convention on Climate Change (UNFCCC) dealing with greenhouse gas emissions mitigation, adaptation and finance starting in the year 2020.

Kyoto Protocol

The Kyoto Protocol is an international environmental treaty on global warming, drawn up on 11 December 1997 in the Japanese city of Kyoto from more than 180 countries at the COP3 Conference of the United Nations Framework Convention on Climate Change (UNFCCC). The Treaty entered into force on 16 February 2005

IETA (International Emission Trading Association)

IETA is a non-profit organisation created in 1999 to serve businesses engaged in the field of carbon markets. Its objective is to build international policy and market frameworks for reducing greenhouse gases at lowest cost

ICROA (International Carbon Reduction and Offset Alliance)

It is an international non-profit organisation made up of the leading carbon reduction and offset providers in the voluntary carbon market around the world. ICROA’s primary aim is to promote best practice in the voluntary carbon market through its member’s adherence to the ICROA Code.

CLIMATE NEUTRAL

Climate neutrality is not about zero emissions. It is about reducing current emissions to the point where the ultimate balance is reach between emissions and the absorptive capacity of the Earth. To achieve climate neutrality, we must measure what we emit and then reduce those emissions. Even with our best efforts to reduce, daily activities and business operations will result in unavoidable emissions. Therefore, offsetting or insetting, only after measuring and reducing, is key for climate neutrality.