https://www.pwc.com/us/en/cfodirect/publication...
Appendix A
Net zero dictionary
Bio-energy with carbon capture and storage (BECCS)
Process of extracting bioenergy from biomass and capturing and storing the carbon, thereby removing it from the atmosphere
Biomass energy
Energy found in plants
Carbon capture / carbon sequestration
Process of extracting carbon and storing it, thus preventing it from being emitted in the atmosphere
Carbon negative
Removing more carbon dioxide from the atmosphere than is emitted
Carbon neutral
Achieving net zero carbon dioxide emissions by balancing carbon dioxide emissions with removal or elimination of carbon dioxide emissions altogether
Carbon offset projects
Projects that allow companies to invest in environmental projects to make up for emissions of greenhouse gases [see also Verification]
Carbon credit
Tradable instrument that conveys a right to emit a unit of pollution [See also Emission allowance]
Carbon pricing
Captures the external costs of greenhouse gas emissions
Carbon sink
A forest, ocean, or other natural environment that has the ability to absorb carbon dioxide from the atmosphere
Carbon tax
Government-imposed fee on any company that burns fossil fuels (coal, oil, and natural gas)
Certification
A Renewable Energy Credit is an instrument that certifies the bearer owns one megawatt-hour (MWh) of electricity generated from a renewable energy resource [See also Renewable Energy Credit]
Decarbonization
Phasing out carbon dioxide emissions from the use of fossil fuels
Deforestation
Clearing a wide area of trees
Electrification
The process of replacing technologies that use fossil fuels with those that use electricity as a source of energy
Emission allowance
Tradable instrument that conveys a right to emit a unit of pollution [See also Carbon credit]
Greenhouse gas
Primarily water vapor, carbon dioxide, methane, nitrous oxide, and ozone, these gasses absorb and emit radiant energy within the thermal infrared range, causing warming of the atmosphere.
Green power
Power derived from renewable energy sources and technologies that provide the highest environmental benefit—e.g., solar, wind, geothermal, biogas, biomass, and hydroelectric
Green taxonomy
Classification system that identifies the activities or investments that deliver on environmental objectives, which can help investors identify opportunities for investments that comply with sustainability criteria
Greenwashing
Creating the impression, sometimes inadvertently, that the company is doing more to protect the environment than it is
Nuclear energy
Energy derived from nuclear reactions
Renewable energy
Energy that is derived from a renewable resource - examples include hydro, wind, geothermal, solar, and biomass energy
Renewable energy credit (REC)
One REC is equal to one megawatt hour of electricity generated from a renewable energy source [See also Certification] Scope 1 emissions
Direct emissions from the activities of an organization or activities under their controlScope 2 emissions
Indirect emissions from purchased electricity, steam, heating, and cooling consumed by an organizationScope 3 emissions
Emissions resulting from activities from assets not owned or controlled by an organization but occur within its value chain - includes all sources not within Scope 1 or Scope 2
Verification
The process of evaluating calculations of the actual amount of greenhouse gas emissions avoided or sequestered through implementation of a carbon offset project [see also Carbon offset programs]
Appendix A
Net zero dictionary
Bio-energy with carbon capture and storage (BECCS)
Process of extracting bioenergy from biomass and capturing and storing the carbon, thereby removing it from the atmosphere
Biomass energy
Energy found in plants
Carbon capture / carbon sequestration
Process of extracting carbon and storing it, thus preventing it from being emitted in the atmosphere
Carbon negative
Removing more carbon dioxide from the atmosphere than is emitted
Carbon neutral
Achieving net zero carbon dioxide emissions by balancing carbon dioxide emissions with removal or elimination of carbon dioxide emissions altogether
Carbon offset projects
Projects that allow companies to invest in environmental projects to make up for emissions of greenhouse gases [see also Verification]
Carbon credit
Tradable instrument that conveys a right to emit a unit of pollution [See also Emission allowance]
Carbon pricing
Captures the external costs of greenhouse gas emissions
Carbon sink
A forest, ocean, or other natural environment that has the ability to absorb carbon dioxide from the atmosphere
Carbon tax
Government-imposed fee on any company that burns fossil fuels (coal, oil, and natural gas)
Certification
A Renewable Energy Credit is an instrument that certifies the bearer owns one megawatt-hour (MWh) of electricity generated from a renewable energy resource [See also Renewable Energy Credit]
Decarbonization
Phasing out carbon dioxide emissions from the use of fossil fuels
Deforestation
Clearing a wide area of trees
Electrification
The process of replacing technologies that use fossil fuels with those that use electricity as a source of energy
Emission allowance
Tradable instrument that conveys a right to emit a unit of pollution [See also Carbon credit]
Greenhouse gas
Primarily water vapor, carbon dioxide, methane, nitrous oxide, and ozone, these gasses absorb and emit radiant energy within the thermal infrared range, causing warming of the atmosphere.
Green power
Power derived from renewable energy sources and technologies that provide the highest environmental benefit—e.g., solar, wind, geothermal, biogas, biomass, and hydroelectric
Green taxonomy
Classification system that identifies the activities or investments that deliver on environmental objectives, which can help investors identify opportunities for investments that comply with sustainability criteria
Greenwashing
Creating the impression, sometimes inadvertently, that the company is doing more to protect the environment than it is
Nuclear energy
Energy derived from nuclear reactions
Renewable energy
Energy that is derived from a renewable resource - examples include hydro, wind, geothermal, solar, and biomass energy
Renewable energy credit (REC)
One REC is equal to one megawatt hour of electricity generated from a renewable energy source [See also Certification] Scope 1 emissions
Direct emissions from the activities of an organization or activities under their controlScope 2 emissions
Indirect emissions from purchased electricity, steam, heating, and cooling consumed by an organizationScope 3 emissions
Emissions resulting from activities from assets not owned or controlled by an organization but occur within its value chain - includes all sources not within Scope 1 or Scope 2
Verification
The process of evaluating calculations of the actual amount of greenhouse gas emissions avoided or sequestered through implementation of a carbon offset project [see also Carbon offset programs]
