The Sustainability Jargon Buster

We are looking for transparency in everything we do to make sure everything is clear and understood when talking about our green journey. True to our values we have created a Sustainability Jargon Buster.

What is a circular economy?‍

A circular economy (also referred to as circularity and CE)[2] is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible

Is 'net zero' the same as ‘carbon neutral’?

No – organisations frequently start with carbon neutrality as they work towards achieving net zero. In a nutshell, being net zero means not adding greenhouse gases to the atmosphere. The amount of carbon the organisation is less or equal to the amount taken out. If an organisation is relying on carbon offsets (see details below), they’re still likely to be ‘carbon neutral.’

What’s the difference between ‘direct’ and ‘indirect’ emissions?

‘Direct emissions’ are generally generated by a business’s operations and can be controlled, such as heating. ‘Indirect emissions’ are not fully controlled by the organisation and are usually caused by their supply chain – regularly through 3rd party organisations. For example: if Magnete or Thermaco use a marketing agency, the agency’s emissions contribute to the company’s indirect emissions.

What makes up the ‘carbon footprint’?

This is the overall amount of greenhouse gas emissions caused directly and/or indirectly by a country, organisation, event, person etc. Activities that contribute to greenhouse gas emissions include: electricity, waste, water, heating, transport, supply chain and more. This is measured in CO2e or ‘carbon dioxide equivalent’.

What does ‘carbon offsetting’ mean?

Buying ‘carbon credits’ to offset your emissions – either through ‘carbon sequestration’ or ‘carbon avoidance’ projects.

What is ‘carbon sequestration’?

This means taking out greenhouse gases already been emitted to the atmosphere by capturing and storing atmospheric CO2. – one method is by planting trees.

What is ‘carbon avoidance’?

Instead of removing carbon out of the air, emissions can be reduced by avoiding the release of emissions into the atmosphere in the first place. A typical example is choosing to cycle rather than drive a car.

‘Greenwashing’ was is it?

The Cambridge Dictionary defines it as: ‘To make people believe that your company is doing more to protect the environment than it really is.’

What is ‘COP26’?

The 2021 United Nations Climate Change Conference, more commonly referred to as COP26, was the 26th United Nations Climate Change conference. Next year’s conference, COP27, will be in Egypt.

And I’ve heard about the ‘Paris Agreement,’ what is it?

An international treaty to tackle climate change. The agreement was made at the United Nations Climate Change Conference (COP21) in Paris in 2015. Participating countries set goals to limit the global temperature increase to 2°C above pre-industrial levels (before 1900), while aiming for closer to 1.5°C. It’s reviewed every five years.

What is the true definition of ‘sustainability’?

The Un defines it as ‘meeting the needs of the present without compromising the ability of future generations to meet their own needs.’

As for Magnete’s targets:

While we are constantly reducing emissions we are looking to be truly 'net zero' by the end of 2030. However, we realise we can only achieve this by changing our business model and becoming a part of the circular economy. We will share more on this soon. Stay tuned.

What to know more? Here is a short video