Glossary

Paris Agreement

The Paris Agreement is an international accord on climate change adopted in 2015 during COP21. It aims to limit global warming to less than 2 degrees Celsius compared to pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5 degrees Celsius.

Depreciation

Depreciation in accounting refers to the systematic allocation of the cost of a fixed asset over its useful life, in order to reflect its gradual depreciation over time and reduce its book value. This accounts for wear and tear, obsolescence, and usage of the asset over time.

GHG Inventory

Greenhouse Gas (GHG) inventories are assessment tools for the greenhouse gas emissions of an organization, business, or territory. They quantify and report greenhouse gas emissions, identifying main sources and guiding actions to reduce climate impact.

Carbon on Invoice

The Carbon on Invoice community (or CSF) launched by Let’s Reconcile has one goal: to quickly enable every producer in Europe, whether commercial or non-commercial, to indicate the reliable carbon weight of their offers, thus assisting each actor in their decarbonization choices. The means? To standardize current carbon counts in reliable and simple carbon accounting.

Climate Change

Refers to the long-term alteration of Earth's climate patterns, resulting in significant variations in global temperatures, precipitation, winds, and other climatic parameters. Climate change is primarily caused by human activities, such as greenhouse gas emissions, and leads to consequences such as rising sea levels, extreme weather events, and disruption of ecosystems.

CO2 Equivalent

CO2 equivalent is a measure that converts emissions of different greenhouse gases into a single unit of measurement, taking into account their global warming potential relative to carbon dioxide (CO2). This facilitates the comparison and aggregation of emissions from different gases, providing a common estimate of their contribution to climate change.

Carbon Footprint

Carbon footprint refers to the total amount of greenhouse gases emitted directly or indirectly by a person, company, community, or territory. It measures the impact on climate change and may include emissions related to energy, transportation, food, industrial production, etc.

Emission Factor (Monetary and Physical)

A monetary emission factor is a measure that expresses greenhouse gas emissions associated with a monetary unit spent, typically in the context of purchasing goods or services. A physical emission factor quantifies greenhouse gas emissions per physical unit of a product, activity, or process. These factors help assess the environmental impact of economic activities and guide choices towards more sustainable options in terms of greenhouse gas emissions.

GHGs (Greenhouse Gases)

Greenhouse gases (GHGs) are compounds present in the atmosphere that contribute to the greenhouse effect phenomenon. They trap heat emitted by the Earth, leading to planetary warming. Major human-caused GHGs include carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), and fluorinated gases. They are primarily emitted by industrial, agricultural, and energy activities and are responsible for climate change by increasing Earth's average temperature.

GHG Protocol

The GHG Protocol (Greenhouse Gas Protocol) is a framework for accounting and managing greenhouse gas (GHG) emissions.

Planetary Boundaries

Planetary boundaries refer to thresholds and conditions necessary to maintain a safe and stable state of the Earth. They define tolerance limits for certain key ecological processes, such as climate change, biodiversity loss, the water cycle, and resource use, beyond which the overall functioning of the Earth's ecosystem could be compromised. Planetary boundaries serve as a guide to direct actions aimed at maintaining environmental sustainability and preserving conditions conducive to life on Earth.

GWP (Global Warming Potential)

Indicators used to assess the impact of different greenhouse gases (GHGs) on climate warming. GWPs compare the ability of each gas to trap heat in the atmosphere relative to carbon dioxide (CO2), which is used as a reference with a GWP of 1. GWPs enable the conversion of emissions from different GHGs into CO2 equivalents, facilitating the comparison and aggregation of GHG emissions from different sources.

Scope

The scopes of a carbon footprint are categories that define the sources and boundaries of greenhouse gas (GHG) emissions to be considered in the assessment. They allow for a comprehensive assessment of GHG emissions related to an organization's activities, taking into account both direct and indirect emissions throughout the value chain.

Carbon Neutrality

Carbon neutrality refers to a state in which net greenhouse gas (GHG) emissions are zero. This means that total GHG emissions are fully offset by actions to reduce, avoid, or sequester emissions, often through GHG reduction projects or the purchase of carbon credits. Achieving carbon neutrality is considered a key goal in combating climate change, as it helps stabilize the level of GHG concentrations in the atmosphere, thereby contributing to limiting climate warming.

NZI (Net Zero Initiative)

A global movement aimed at achieving carbon neutrality on a global scale. It is a commitment by governments, businesses, and organizations to reduce their greenhouse gas (GHG) emissions to zero, and to offset any residual emissions through GHG reduction or sequestration actions. The initiative aims to accelerate efforts to combat climate change by encouraging a transition to low-carbon economies and promoting sustainable practices.

SBTi (Science Based Targets Initiative)

A collaborative initiative among several organizations, including CDP, the United Nations Global Compact, the World Resources Institute, and WWF. Its goal is to promote the setting of greenhouse gas (GHG) reduction targets based on science. Companies engaging in SBTi strive to set emission reduction targets aligned with scientific recommendations to limit global climate warming to 1.5 degrees Celsius. SBTi provides criteria and guidelines to ensure that these targets are rigorous and consistent with the climate urgency.

SNBC (National Low Carbon Strategy)

France's roadmap for combating climate change. It provides guidance for implementing, across all sectors, the transition to a low-carbon, circular, and sustainable economy.

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MyCompanyCO2 is an open-source tool integrated into Odoo covering all the needs of a carbon footprint: measuring, analyzing, reducing, contributing, and communicating.

MyCompanyCO2's unique positioning is to be both very easy to use and fully integrated.