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Our sustainability glossary of terms associated with environmental, social, and economic sustainability.

Carbon Dioxide Equivalent (CO2e) - a term that describes various greenhouse gasses (GHG) in unified measurement. For each quantity and type of greenhouse gas (GHG), carbon dioxide equivalent (CO2e) signifies the amount of carbon dioxide (CO2) that would have an equivalent impact on global warming.

Carbon Footprint - the total quantity of greenhouse gas (GHG) emissions produced by an individual, an organization, a product, or a process, expressed as carbon dioxide equivalent (CO2e).

Carbon Disclosure Project (CDP) - a non-profit organization with branches in the United Kingdom, Japan, India, China, Germany, and the United States, which helps companies and cities disclose their environmental impact related to climate change, particularly water and forest management. CDP encourages thousands of companies in major cities across the world's most developed economies to measure and disclose information about their impact on the environment.

Climate Change - a broad term that refers to the Earth's climate change in the long run. The same phenomenon is often called global warming, which, however, considers human activities as a significant factor in climate change. Since 1800, with the emergence of industrialization, human activities have become key drivers of climate change. For example, burning fossil fuels (coal, oil, gas) has generated significant greenhouse gas (GHG) emissions. Climate change is causing phenomena such as melting glaciers, rising sea levels, or more frequent extreme weather events.

Greenhouse gasses (GHGs) -  a natural phenomenon, but also a result of human activity. GHGs capture and absorb heat (i.e., infrared radiation) from the Sun in the Earth's atmosphere, contributing to the greenhouse effect. The gasses within the scope of the definition are carbon dioxide (CO2), methane (CH4), nitric oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF6), and nitrogen trifluoride (NF3). The growing concentration of greenhouse gasses in the atmosphere is the direct cause of climate change.

The Science Based Targets initiative (SBTi) is a collaboration between the CDP, the UN Global Compact, the World Resources Institute, and the World Wide Fund for Nature (WWF). Since 2015, more than 1,000 companies have decided to join the initiative to set a science-based climate target.

Scope 1 GHG Emissions - encompasses all greenhouse gas emissions from a company. The scope includes fuel combustion, company vehicles, and uncontrolled emissions. These are direct greenhouse gas emissions coming from sources owned or controlled by the organization, including burning fuel in boilers, furnaces, and more.

Scope 2 GHG Emissions - indirect greenhouse gas emissions related to the production of electricity, heating/cooling, or steam purchased for own consumption. Emissions associated with purchased electricity are calculated by employing two different approaches:

Location-based approach - reflects the average emission intensity of the national grid, taking into account both renewable and non-renewable manufacturing operations. Calculations of greenhouse gas emissions are made by employing an average emission factor that reflects the national electricity mix: the higher the share of renewable energy sources used by a particular country, the lower the relevant location-based emission factor.

Market-based approach - considers the share of certified electricity purchased from renewable sources. To be registered as renewable, electricity must be defined by contractual instruments such as guarantees of origin (GoO). The part of the electricity purchased covered by GoO is considered net-zero, while the rest is multiplied by a factor known as the residual mix. The latter analyses the emission intensity of the national grid, taking into account only non-renewable productions.

Scope 3 GHG Emissions - other indirect greenhouse gas emissions generated by the company's activities. They come from sources that are not owned or controlled by the company. Scope 3 GHG Emissions result from supplier, employee, and consumer activities. Such emissions can be generated throughout the value chain.