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    Home  →  News   →   MAKING SUSTAINABILITY AS EASY AS ABC – a focus on D, E and F

    MAKING SUSTAINABILITY AS EASY AS ABC – a focus on D, E and F

    D is for Digital Carbon Footprint. E is for ESG and F is for Fairtrade. We’ve added to our A to Z of green words and phrases 

    Lots of sectors use jargon. You’ll have heard of HMRC, PAYE and VAT from the world of tax and accountancy. You may well have come across CSR. Though depending on the context it could stand for Corporate Spending Review or Corporate Social Responsibility.  

    As we’ve embarked on our sustainability journey we’ve come across a whole new set of jargon, acronyms and phrases. Some might even say green gibberish. We couldn’t possibly comment. We were a bit nonplussed by some. Here we share some of what we’ve learnt.  

    We’ll add more as we go along. Send us your suggestions for inclusion in our lexicon of sustainability and help us get us all the way to Z. We’re kicking off with the basics with A, B and C.

    A is for: 

    ARTICLE 6 

    This is a highly complicated and technical part of the Paris Agreement, which essentially sets out the framework for voluntary global cooperation on trading emissions reductions – also referred to as international ‘carbon markets’ or in technical Article 6 language ‘Internationally Traded Emissions Outcomes’ – to enable countries to reduce their emissions and meet the pledges set out in their ‘Nationally Determined Contributions’ 

    B is for: 

    B Corp

    Certified B Corps are for profit businesses united by one vision: to use business as a force for good. A ‘B Corp’ considers how their actions impacts their employees, clients, suppliers, community and the environment. Ultimately, B Corps work to build a more inclusive and sustainable economy for all. Here at CP we’re nearing towards achieving Certified B Corporation status. 

    C is for: 

    CARBON OFFSETTING

    If you’ve ever booked flights online you’ll have been offered the chance to ‘offset’ your flights. The idea behind offsetting is that you’re ‘balancing’, ‘compensating’, or ‘neutralising’ the carbon emissions from those flights. Or a given activity by paying into a scheme or project that will reduce emissions somewhere else.  

    Offsetting investments are made in environmental and climate restoration projects such as tree planting, or renewable energy development schemes around the world.  

    Get in touch if you’re got any suggestions for words or phrases to include or that you’d like explained.

    D is for: 

    DIGITAL CARBON FOOTPRINT   

    We’re all becoming more and more dependent upon technology. It was particularly the case during the Coronavirus pandemic which saw many of us having to work remotely. Some of us are now choosing to work from home and have changed our work habits making the most of technology.  

    Whilst there are green benefits from working from home with less traffic on the roads there are still hidden environmental impacts from using technology. Sending emails, making video calls and  streaming music and films all have an impact. 

    If the internet was a country, in terms of greenhouse gas emissions it would be the sixth largest polluter. These emissions can be split into four areas:  

    • Devices (34%) – energy used to power our phones, tablets, desktops, wearables etc 
    • Communication Networks (29%)- construction, operation and maintenance of networks for both mobile and fixed networks 
    • Data Centres (21%) – construction, manufacture and operation of the centres that store all the data on the internet 
    • Manufacture (16%) – energy for making all the equipment 

    E is for:

    ESG – ENVIRONMENTAL, SOCIAL AND GOVERNANCE

    Sustainability reporting involves the disclosure and communication of a company’s environmental, social and governance (ESG) goals, including the progress it has made towards them.

    It demonstrates a commitment to sustainable development which, in turn, can boost internal and external stakeholder confidence and improve your company’s reputation.

    Mandatory sustainability reporting for large companies is to be introduced by the EU under its Corporate Sustainability Reporting Directive (CSRD). It’s expected to be in place by 2023. The law will also affect non-EU registered businesses trading across the EU. You can read more about sustainability reporting here.

    F is for:

    FAIR TRADE

    Fairtrade is a system of certification that aims to ensure a set of standards are met in the production and supply of a product or ingredient. For farmers and workers, Fairtrade means workers’ rights, safer working conditions and fairer pay. For shoppers it means high quality, ethically produced products. Find out more at Fairtrade

    AUTHOR

    Nicoleta Ciobanu, Accounting Advisory Manager

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