Commitment Glossary

Actions taken to reduce emissions from operational and embodied carbon, with residual emissions compensated for via compensation activities in the transition to net zero emissions.

Eliminate emissions from a source outside the value chain of the entity, normally by investing offsets credits into projects which establish access to renewable energy sources; for example by replacing fossil fuel sources with solar panels.

Refers to a range of methods which either remove CO₂ from the atmosphere and/or prevent it from being released at source.

An offset is where an avoidance, reduction, or removal of a carbon emission is used to compensate for or neutralise a CO₂ emission that occurs elsewhere.

A tradable, non-tangible instrument representing a unit of carbon dioxide-equivalent (CO₂e) – typically one tonne – that is reduced, avoided or sequestered by a project and is certified/verified to an internationally recognised carbon accounting standard¹.

1 ICROA, ‘Code of Best Practice for Carbon Management Services’ (2020)

A type of offset that takes CO₂ out of the air and permanently stores it. For all forms of carbon removal, whether nature-based solutions or technologically-mediated processes, carbon must be stored².

2 University of Oxford, ‘The Oxford Principles for Net Zero Aligned Carbon Offsetting’ (2020)

Carbon emissions associated with materials and construction processes used throughout the whole lifecycle of a building or infrastructure.

Any activity that compensates for the emission of carbon dioxide (CO₂) or other greenhouse gases (measured in carbon dioxide equivalents [CO₂e]) by providing an emission reduction elsewhere³; e.g. through installation of renewable energy sources in place of fossil fuel-based energy sources for a given asset.

3 Definition from the Encyclopedia Britannica (2021)

Gaseous constituents of the atmosphere which properties cause the greenhouse effect. Water vapour (H₂O), carbon dioxide (CO₂), nitrous oxide (N₂O), methane (CH₄) and ozone (O₃) are the primary GHGs in the Earth’s atmosphere.

When the amount of carbon dioxide emissions associated with building operations on an annual basis is reduced (highly energy efficient andfully powered from on-site and/or off-site renewable energy sources) to a level that is consistent with reaching net zero at the global or sector level in 1.5^oC pathways. Any residual emissions that remain unfeasible to eliminate should be neutralised through carbon removals⁴.

4 Science Based Targets, ‘Foundations for Science-based Net Zero Target Setting in the Corporate Sector’ (2020)

When, in addition to net zero operational carbon, upfront carbon and other embodied carbon across the building lifecycle is reduced to a level that is consistent with reaching net zero at the global or sector level in 1.5^oC pathways. Any residual emissions that remain unfeasible to eliminate should be neutralised through carbon removals⁴.

4 Science Based Targets, ‘Foundations for Science-based Net Zero Target Setting in the Corporate Sector’ (2020)

Projects to compensate for emissions that are credible, unique, additional and permanent, but not currently verified by credit schemes.

Carbon emissions associated with energy used to light, heat, cool, and power a building.

Emissions which remain once all feasible methods for reducing emissions during construction and operation have been exhausted.

Actions which actively sequester carbon from the atmosphere, reversing the effects of anthropocentric emissions.

Verified offsets which contribute to avoiding or reducing emissions from buildings or construction projects external to the asset.

Emissions from operations that are owned or controlled by the reporting company.

Indirect emissions from the generation of purchased or acquired electricity, steam, heat, or cooling consumed by the reporting company.

All indirect emissions (not included in scope 2) that occur in the value chain of the reporting company, including both upstream and downstream emissions, with no direct ownership or control over.

Total carbon emissions produced in the production and construction process stages of a building lifecycle, including emissions from raw material supply, manufacturing, transportation, and construction or installation of a building.

Refers to highly efficient assets which are built and operated using 100% renewable energy sources and are fossil fuel free.