{"id":13315,"date":"2025-06-27T17:47:55","date_gmt":"2025-06-27T15:47:55","guid":{"rendered":"https:\/\/www.tinateucher.com\/?p=13315"},"modified":"2026-04-08T17:33:26","modified_gmt":"2026-04-08T15:33:26","slug":"csr-glossary-corporate-sustainability-the-most-important-terms","status":"publish","type":"post","link":"https:\/\/www.tinateucher.com\/en\/blog\/csr-glossary-corporate-sustainability-the-most-important-terms\/","title":{"rendered":"CSR Glossary: Corporate Sustainability &#8211; the Most Important Terms"},"content":{"rendered":"\n<p>Corporate sustainability goes hand in hand with many terms and just as many abbreviations. This CSR Glossary summarises the most important terms for sustainability management.<\/p>\n\n\n\n<!--more-->\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>How exactly do you define CSR? What again is CR? And what does ESRS actually mean? Sustainable business is hip and yes, much of it is more than greenwashing. More and more terms and abbreviations for standards, economic models and initiatives are emerging. Can anyone still make sense of it all? This CSR Glossary explains &#8211; in alphabetical order &#8211; the terminology surrounding sustainability in business:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">CSR Glossary Corporate Sustainability<\/h2>\n\n\n\n<p><em>Authors: <a href=\"https:\/\/heilkunde-samani.de\/\" target=\"_blank\" rel=\"noreferrer noopener\">Isabella Samani<\/a> &amp; <a href=\"https:\/\/www.tinateucher.com\/en\/profile\/\">Tina Teucher<\/a><\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Contents &#8211; Terms in this CSR Glossary<\/h3>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#c2c\">C2C<\/a><\/li>\n\n\n\n<li><a href=\"#cbam\">CBAM<\/a><\/li>\n\n\n\n<li><a href=\"#cc\">CC<\/a><\/li>\n\n\n\n<li><a href=\"#ccc\">CCC<\/a><\/li>\n\n\n\n<li><a href=\"#ccf\">CCF<\/a><\/li>\n\n\n\n<li><a href=\"#ccs\">CCS<\/a><\/li>\n\n\n\n<li><a href=\"#ccu\">CCU<\/a><\/li>\n\n\n\n<li><a href=\"#cdm\">CDM<\/a><\/li>\n\n\n\n<li><a href=\"#cdp\">CDP<\/a><\/li>\n\n\n\n<li><a href=\"#cdsb\">CDSB<\/a><\/li>\n\n\n\n<li><a href=\"#ce\">CE<\/a><\/li>\n\n\n\n<li><a href=\"#cg\">CG<\/a><\/li>\n\n\n\n<li><a href=\"#co2e\">CO2e<\/a><\/li>\n\n\n\n<li><a href=\"#cr\">CR<\/a><\/li>\n\n\n\n<li><a href=\"#cs\">CS<\/a><\/li>\n\n\n\n<li><a href=\"#csddd\">CSDDD<\/a><\/li>\n\n\n\n<li><a href=\"#cso\">CSO<\/a><\/li>\n\n\n\n<li><a href=\"#csr\">CSR<\/a><\/li>\n\n\n\n<li><a href=\"#csrd\">CSRD<\/a><\/li>\n\n\n\n<li><a href=\"#dac\">DAC<\/a><\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#ecgt\">ECGT<\/a><\/li>\n\n\n\n<li><a href=\"#efrag\">EFRAG<\/a><\/li>\n\n\n\n<li><a href=\"#emas\">EMAS<\/a><\/li>\n\n\n\n<li><a href=\"#epd\">EPD<\/a><\/li>\n\n\n\n<li><a href=\"#era\">ERA<\/a><\/li>\n\n\n\n<li><a href=\"#esg\">ESG<\/a><\/li>\n\n\n\n<li><a href=\"#esrs\">ESRS<\/a><\/li>\n\n\n\n<li><a href=\"#eu-green-deal\">EU Green Deal<\/a><\/li>\n\n\n\n<li><a href=\"#eu-taxonomy\">EU Taxonomy<\/a><\/li>\n\n\n\n<li><a href=\"#gcd\">GCD<\/a><\/li>\n\n\n\n<li><a href=\"#ghg\">GHG<\/a><\/li>\n\n\n\n<li><a href=\"#gri\">GRI<\/a><\/li>\n\n\n\n<li><a href=\"#ifrs\">IFRS<\/a><\/li>\n\n\n\n<li><a href=\"#iooi\">IOOI<\/a><\/li>\n\n\n\n<li><a href=\"#iro\">IRO<\/a><\/li>\n\n\n\n<li><a href=\"#issb\">ISSB<\/a><\/li>\n\n\n\n<li><a href=\"#lca\">LCA<\/a><\/li>\n\n\n\n<li><a href=\"#lsme\">LSME<\/a><\/li>\n\n\n\n<li><a href=\"#nfrd\">NFRD<\/a><\/li>\n\n\n\n<li><a href=\"#pcaf\">PCAF<\/a><\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#pcf\">PCF<\/a><\/li>\n\n\n\n<li><a href=\"#pri\">PRI<\/a><\/li>\n\n\n\n<li><a href=\"#rbc\">RBC<\/a><\/li>\n\n\n\n<li><a href=\"#redd+\">REDD+<\/a><\/li>\n\n\n\n<li><a href=\"#sasb\">SASB<\/a><\/li>\n\n\n\n<li><a href=\"#sbti\">SBTi<\/a><\/li>\n\n\n\n<li><a href=\"#sbt-nature\">SBT for Nature<\/a><\/li>\n\n\n\n<li><a href=\"#sbtn\">SBTN<\/a><\/li>\n\n\n\n<li><a href=\"#sdgs\">SDGs<\/a><\/li>\n\n\n\n<li><a href=\"#sfdr\">SFDR<\/a><\/li>\n\n\n\n<li><a href=\"#sse\">SSE<\/a><\/li>\n\n\n\n<li><a href=\"#tca\">TCA<\/a><\/li>\n\n\n\n<li><a href=\"#tcfd\">TCFD<\/a><\/li>\n\n\n\n<li><a href=\"#tnfd\">TNFD<\/a><\/li>\n\n\n\n<li><a href=\"#ungc\">UN Global Compact<\/a><\/li>\n\n\n\n<li><a href=\"#unrisd\">UNRISD<\/a><\/li>\n\n\n\n<li><a href=\"#unsdpi\">UNSDPI<\/a><\/li>\n\n\n\n<li><a href=\"#vsme\">VSME<\/a><\/li>\n\n\n\n<li><a href=\"#weee\">WEEE<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"c2c\">C2C = Cradle to Cradle<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is C2C?<\/em><\/h4>\n\n\n\n<p>Cradle to Cradle is a design concept for a consistently <a href=\"#ce\">circular economy<\/a>. Companies can have their products <a href=\"https:\/\/c2ccertified.org\/get-certified\" target=\"_blank\" rel=\"noreferrer noopener\">certified<\/a> according to this concept. C2C was coined by Prof Michael Braungart, founder of the <a href=\"https:\/\/www.epea.com\/en\" target=\"_blank\" rel=\"noreferrer noopener\">EPEA Institute<\/a>.<\/p>\n\n\n\n<p>The 3 Cradle to Cradle Principles:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Waste = Food<\/strong><br>Product and consumption cycles should correspond with natural cycles. For example, all product materials should be available for production after use and recycling.<\/li>\n\n\n\n<li><strong>Utilisation of Renewable Energies<\/strong><br>All the energy used in the <a href=\"#lca\">life cycle of a product<\/a> should be renewable.<\/li>\n\n\n\n<li><strong>Respecting Diversity<\/strong><br>The solutions designed by C2C are intended to promote biological, socio-cultural and conceptual diversity.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/c2c.ngo\/en\/cradle-to-cradle\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on C2C<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#ce\" style=\"border-radius:13px;background-color:#73a0a0\">more info on the circular economy<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/c2c.ngo\/en\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">to C2C NGO<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cbam\">CBAM = Carbon Border Adjustment Mechanism<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does CBAM stand for?<\/em><\/h4>\n\n\n\n<p>The Carbon Border Adjustment Mechanism is a programme introduced by the EU in October 2023 to reduce carbon leakage, i.e. the relocation of emission-intensive production processes of European companies to non-EU countries in order to circumvent the stricter EU regulations. The replacement of EU products with cheaper, more emission-intensive products from outside the EU is also referred to as carbon leakage. The CBAM will therefore now intervene by checking what price a company has already paid for the <a href=\"#ghg\">greenhouse gas emissions<\/a> emitted by an imported product. If the price paid is lower than in the EU, the company must purchase CBAM certificates.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/taxation-customs.ec.europa.eu\/carbon-border-adjustment-mechanism_en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the CBAM<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cc\">CC = Corporate Citizenship<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is the difference between CSR and CC?<\/em><\/h4>\n\n\n\n<p>What many consider to be <a href=\"#csr\">CSR<\/a> is actually only part of it, namely corporate citizenship (CC). The term CC refers to social commitment by companies such as donations, sponsorship or the provision of labour by employees outside their usual working environment for charitable purposes.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#csr\" style=\"border-radius:13px;background-color:#73a0a0\">What is CSR?<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.thecorporategovernanceinstitute.com\/insights\/lexicon\/what-is-corporate-citizenship\/?srsltid=AfmBOoq83QSj7zpRT3dsPVT_CPEPg2pNtdZZjmkvAHKdgKkd71Aikx4s\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CC<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.nachhaltigkeit.info\/artikel\/corporate_citizenship_1036.htm\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CC (in German)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ccc\">CCC = Climate Change Committee<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does CCC stand for?<\/em><\/h4>\n\n\n\n<p>The Climate Change Committee is an advisory body to the UK government established in 2008. It advises the government on emissions targets and reports to Parliament on progress in reducing <a href=\"#ghg\">greenhouse gas emissions<\/a> and on climate change adaptation.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.theccc.org.uk\/about\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the CCC<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ccf\">CCF = Corporate Carbon Footprint<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does CCF mean?<\/em><\/h4>\n\n\n\n<p>The corporate carbon footprint represents all climate-impacting emissions that a company produces through all its actions and products within a year. This is to be distinguished from the <a href=\"#pcf\">product carbon footprint<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.gut-cert.de\/en\/products\/greenhouse-gas-balances\/carbon-footprint\/corporate-carbon-footprint\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more infos on the CCF<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ccs\">CCS = Carbon Capture and Storage<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is CCS?<\/em><\/h4>\n\n\n\n<p>The term CCS refers to the underground storage of carbon dioxide beneath the earth&#8217;s surface or the seabed to eliminate the <a href=\"#ghg\">greenhouse gas<\/a> from the atmosphere. Research and pilot projects are currently (June 2024) being conducted to clarify whether the technology can be considered as a climate protection measure.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.nationalgrid.com\/stories\/energy-explained\/what-is-ccs-how-does-it-work\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CCS<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.umweltbundesamt.de\/themen\/wasser\/gewaesser\/grundwasser\/nutzung-belastungen\/carbon-capture-storage#grundlegende-informationen\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CCS (in German)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ccu\">CCU = Carbon Capture and Utilisation<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does CCU mean?<\/em><\/h4>\n\n\n\n<p>Unlike <a href=\"#ccs\">CCS<\/a>, CCU not only stores the fixed carbon, but &#8211; as the name suggests &#8211; also utilises it. Carbon capture and utilisation (CCU) usually refers to the use of gaseous CO2, e.g. in fire extinguishing systems. CCU can also be used as \u2018power to gas\/liquid\/solid\u2019. Here, the carbon compounds CO2 and CO (carbon monoxide) are used for the production of chemicals and as an energy source for transport, industry and heat supply. According to the <a href=\"https:\/\/www.umweltbundesamt.de\/themen\/klima-energie\/klimaschutz-energiepolitik-in-deutschland\/carbon-capture-utilization-ccu#Fazit\" target=\"_blank\" rel=\"noreferrer noopener\">German Federal Environment Agency (Umweltbundesamt, UBA)<\/a>, CCU is not a viable climate protection measure.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/co2value.eu\/what-is-ccu\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CCU<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.umweltbundesamt.de\/themen\/klima-energie\/klimaschutz-energiepolitik-in-deutschland\/carbon-capture-utilization-ccu#Hintergrund\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CCU by UBA (in German)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cdm\">CDM = Clean Development Mechanism<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does CDM stand for?<\/em><\/h4>\n\n\n\n<p>The Clean Development Mechanism originates from the <a href=\"https:\/\/unfccc.int\/kyoto_protocol\">Kyoto Protocol<\/a>. It stipulates that countries that have committed to reducing emissions in accordance with the Kyoto Protocol can implement emission reduction projects in less developed countries that count towards achieving the Protocol&#8217;s targets. The emissions certificates acquired in this way are available for emissions trading.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/unfccc.int\/process-and-meetings\/the-kyoto-protocol\/mechanisms-under-the-kyoto-protocol\/the-clean-development-mechanism\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the CDM<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cdp\">CDP = Carbon Disclosure Project<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is the idea behind the CDP?<\/em><\/h4>\n\n\n\n<p>The Carbon Disclosure Project is an international organisation that collects environmental data such as data on emissions and supports companies and local authorities in sustainability reporting. Data is collected annually via questionnaires that the institutions complete themselves. The NGO aims to encourage companies and authorities to save resources and emissions in their sphere of influence.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.cdp.net\/en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the CDP<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cdsb\">CDSB = Climate Disclosure Standards Board<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is the CDSB?<\/em><\/h4>\n\n\n\n<p>The Climate Disclosure Standards Board (CDSB) was an international association of NGOs from the business and environmental sectors. The aim of the CDSB was to put natural and social capital on an equal footing with financial capital in corporate reporting and to improve and harmonise reporting. In 2022, as planned, the CDSB merged with the <a href=\"#ifrs\">IFRS Foundation<\/a> to provide staff and resources to the <a href=\"#issb\">ISSB<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.ifrs.org\/sustainability\/climate-disclosure-standards-board\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the CDSB<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ce\">CE = Circular Economy<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does CE stand for?<\/em><\/h4>\n\n\n\n<p>Circular Economy (CE) is a way of doing business that conserves natural resources, e.g. by making products repairable and recyclable with the longest possible product lifespan. The German Federal Environment Agency (Umweltbundesamt) defines the CE as \u2018part of a resource-efficient, sustainable way of life and economy that promotes the implementation of the United Nations 2030 Agenda for Sustainable Development and respects planetary boundaries.\u2019<\/p>\n\n\n\n<p>The circular economy considers the entire <a href=\"#lca\">life cycle of a product<\/a> and the materials used (locally and globally). Ecological and social consequences are also part of the considerations.<\/p>\n\n\n\n<p>In German-speaking countries, the term \u2018Kreislaufwirtschaft\u2019 (German translation for CE) is sometimes only used to refer to sustainable waste management. In contrast, the English term circular economy is usually understood more comprehensively and describes the entire material cycle of a product.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.ellenmacarthurfoundation.org\/topics\/circular-economy-introduction\/overview\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more infos on CE<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.umweltbundesamt.de\/sites\/default\/files\/medien\/1410\/publikationen\/2020_04_27_leitlinie_kreislaufwirtschaft_bf.pdf\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more infos on CE (in German)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cg\">CG = Corporate Governance<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does CG mean?<\/em><\/h4>\n\n\n\n<p>Corporate governance stands for transparent and responsible corporate management. The German Corporate Governance Code deals with the \u2018management and supervision of German listed companies\u2019. Corporate governance is intended to create transparency about business transactions and increase comparability with other companies in reports. CG is part of <a href=\"#cr\">corporate responsibility<\/a> (CR).<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.investopedia.com\/terms\/c\/corporategovernance.asp\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CG<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.nachhaltigkeit.info\/artikel\/corporate_governance_kodex_1046.htm\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CG (in German)<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#cr\" style=\"border-radius:13px;background-color:#73a0a0\">What is CR?<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"co2e\">CO2e = Carbon dioxide equivalents = CO2 equivalents<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does CO2e mean?<\/em><\/h4>\n\n\n\n<p>The e in CO2e stands for \u2018equivalents\u2019. The CO2 equivalents were introduced in order to better calculate the effects of all climate-changing <a href=\"#ghg\">greenhouse gases<\/a>. For example, methane has around 28 times more impact on the climate than CO2 and can therefore have a greater influence on climate change than CO2, even in small quantities. In addition to CO2 and methane, greenhouse gases also include water vapour and nitrous oxide, for example. Because the CO2e facilitates the calculation of impacts, they are usually used in the <a href=\"#lca\">LCA<\/a>, the <a href=\"#pcf\">PCF<\/a> and the <a href=\"#era\">ERA<\/a>, for example.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/klima.com\/blog\/CO2-vs-CO2e-what-is-the-difference\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CO2e<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.helmholtz-klima.de\/klimawissen\/co2-aequivalente\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CO2e (in German)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cr\">CR = Corporate Responsibility<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Are CSR and CR the same thing?<\/em><\/h4>\n\n\n\n<p>CR and <a href=\"#csr\">CSR<\/a> are often used interchangeably, as both deal with corporate responsibility. However, there is also another type of definition. Corporate responsibility (CR) is an umbrella term that encompasses the following concepts:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"#csr\">Corporate Social Responsibility<\/a> (CSR)<\/li>\n\n\n\n<li><a href=\"#cg\">Corporate Governance<\/a>&nbsp;(CG)<\/li>\n\n\n\n<li><a href=\"#cc\">Corporate Citizenship<\/a>&nbsp;(CC)<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.nachhaltigkeit.info\/artikel\/abgrenzung_cs_csr_cc_1501.htm\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CR (in German)<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#csr\" style=\"border-radius:13px;background-color:#73a0a0\">What is CSR?<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cs\">CS = Corporate Sustainability<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does CS stand for?<\/em><\/h4>\n\n\n\n<p>Corporate sustainability is a broad term that can be defined in very different ways. In some cases, CS is equated with <a href=\"#csr\">CSR<\/a>. The <a href=\"https:\/\/www.nachhaltigkeit.info\/artikel\/abgrenzung_cs_csr_cc_1501.htm\" target=\"_blank\" rel=\"noreferrer noopener\">Lexicon of Sustainability<\/a> (<a href=\"https:\/\/www.nachhaltigkeit.info\/artikel\/abgrenzung_cs_csr_cc_1501.htm\" target=\"_blank\" rel=\"noreferrer noopener\">Lexikon der Nachhaltigkeit)<\/a> published by the foundation <em>Aachener Stiftung Kathy Beys<\/em> distinguishes between CSR and CS as follows:<\/p>\n\n\n\n<p>&#8220;<a href=\"#csr\">Corporate Social Responsibility<\/a> explicitly addresses the social and ecological dimensions and considers economic efficiency as a marginal or secondary condition.<br>Corporate sustainability (CS), on the other hand, understands all three dimensions <em>[note: the three dimensions of sustainability are social, ecological and economic]<\/em> as an integrated unit: all products and services serve a sustainable economy and way of life. Such companies are still rare.&#8221;<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.oecd.org\/en\/topics\/sub-issues\/corporate-sustainability.html\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CS<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"csddd\">CSDDD = Corporate Sustainability Due Diligence Directive<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is the difference between CSDDD and RBC?<\/em><\/h4>\n\n\n\n<p>The European Commission&#8217;s Corporate Sustainability Due Diligence Directive (CSDDD) is intended to create a legal framework in which companies must disclose the measures they take to protect the environment and human rights. The CSDDD came into force in July 2024. The OECD&#8217;s <a href=\"#rbc\">Responsible Business Conduct<\/a> (RBC) can also be used as a guide.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/commission.europa.eu\/business-economy-euro\/doing-business-eu\/corporate-sustainability-due-diligence_en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the CSDDD<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#rbc\" style=\"border-radius:13px;background-color:#73a0a0\">info on the RBC<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cso\">CSO = Chief Sustainability Officer<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What are the responsibilities of a CSO?<\/em><\/h4>\n\n\n\n<p>CSO stands for Chief Sustainability Officer. The CSO is the highest sustainability manager in a company and thus shapes the organisation&#8217;s sustainable transformation. The tasks of a CSO include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ensuring regulatory compliance, e.g. laws, company-internal guidelines<\/li>\n\n\n\n<li><a href=\"#esg\">ESG<\/a> monitoring and reporting<\/li>\n\n\n\n<li>Overseeing the portfolio of sustainability projects &#8211; project planning and overview<\/li>\n\n\n\n<li>Managing stakeholders\u2019 relationships &#8211; internally and externally<\/li>\n\n\n\n<li>Building organizational capabilities &#8211; identify gaps, educational initiatives<\/li>\n\n\n\n<li>Fostering the company&#8217;s cultural change<\/li>\n\n\n\n<li>Scouting and experimenting emerging sustainability technologies, solutions and practices<\/li>\n\n\n\n<li>Embedding sustainability into processes and decision making<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/hbr.org\/2023\/03\/the-8-responsibilities-of-chief-sustainability-officers\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CSO<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"csr\">CSR = Corporate Social Responsibility<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Is CSR only concerned with the social aspect of corporate sustainability?<\/em><\/h4>\n\n\n\n<p>Do companies assume social responsibility? Originally focussing primarily on social aspects, CSR now stands for holistic, sustainable management, which is why it is also referred to as <a href=\"#cr\">corporate responsibility<\/a> (CR). CSR is therefore based on the three pillars of sustainability: ecology, economy and social responsibility. CSR practice is characterised by fairness in dealing with all stakeholders (supply chain, employees, customers, local residents, etc.), comprehensive environmental protection measures and social commitment.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.csr-in-deutschland.de\/EN\/CSR\/Background\/Sustainability-and-CSR\/sustainability-and-csr.html\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on CSR<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#cr\" style=\"border-radius:13px;background-color:#73a0a0\">What is CR?<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"csrd\">CSRD = Corporate Social Responsibility Directive<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is CSRD?<\/em><\/h4>\n\n\n\n<p>CSRD is the EU directive on <a href=\"#cr\">corporate sustainability<\/a> reporting. Since 2014, sustainability reporting has already been regulated for certain companies by the <a href=\"#nfrd\">NFRD<\/a>. Since the beginning of 2023, the CSRD has been regulating mandatory reporting on corporate sustainability for many more companies. The directive will gradually affect more companies every year until 2026. <\/p>\n\n\n\n<p>The CSRD standardises the form of sustainability reports and also specifies the use of certain key figures in order to make the reports of different companies comparable. However, it obliges companies not only to present the effects of their actions, but also to address the effects of sustainability aspects on the company. Reporting must be based on the <a href=\"#esrs\">ESRS<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/finance.ec.europa.eu\/capital-markets-union-and-financial-markets\/company-reporting-and-auditing\/company-reporting\/corporate-sustainability-reporting_en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the CRSD<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"dac\">DAC = Direct Air Capture<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does DAC stand for?<\/em><\/h4>\n\n\n\n<p>DAC is a measure to reduce CO2 in the air in order to reduce the amount of <a href=\"#ghg\">greenhouse gases<\/a> in the atmosphere. The gas can be &#8220;sucked&#8221; directly out of the air through a chemical reaction, stored and utilised as a raw material. DAC is still at the development stage and the process requires a lot of energy. However, it is likely that the technology might be used on a larger scale in the future.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.iea.org\/energy-system\/carbon-capture-utilisation-and-storage\/direct-air-capture\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on DAC<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.helmholtz-klima.de\/klimawissen\/methoden-zur-co2-entnahme-aus-der-luft\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on DAC (in German)<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/umweltmission.de\/wissen\/direct-air-capture-dac\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">extensive pro and con list for DAC (in German)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ecgt\">ECGT = EU Directive on Empowering Consumers for the Green Transition<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is the difference between ECGT and GCD?<\/em><\/h4>\n\n\n\n<p>The ECGT is a EU directive that was introduced as a result of the <a href=\"#eu-green-deal\">European Green Deal<\/a>. It deals with the following issues:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Advertising Claims:<\/strong> If a product advertises ecological aspects, the company must be able to substantiate the claims (scientifically).<\/li>\n\n\n\n<li><strong>Social Sustainability:<\/strong> In addition to the ecological aspects of a product, the directive now also includes social factors such as compliance with human rights and working conditions within the company as criteria for sustainability.<\/li>\n\n\n\n<li><strong>Prohibition of Vague Statements:<\/strong> The directive prohibits misleading and unspecific statements and quality seals that are not independently certified.<\/li>\n\n\n\n<li><strong>Advertising for CO2 Reduction:<\/strong> The directive recognises that actual CO2 reduction is more valuable than climate neutrality through offsetting measures. Advertising is to be subject to stricter controls in this respect.<\/li>\n\n\n\n<li><strong>Product Lifespan:<\/strong> Companies must provide more comprehensive information on durability and repairability as a standard &#8211; this also includes information on software updates.<\/li>\n<\/ul>\n\n\n\n<p>The directive is expected to be integrated into national legislation in Germany from the beginning of 2026. The ECGT is going to be supplemented by the <a href=\"#gcd\">GCD<\/a> (= Green Claims Directive). The ECGT focuses on consumer protection, while the GCD sets out the requirements that environmental claims must fulfil.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/commission.europa.eu\/live-work-travel-eu\/consumer-rights-and-complaints\/sustainable-consumption_en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the ECGT<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.houseofchange.net\/de\/resources\/top-25-questions-answers-on-the-new-eu-green-claims-directive\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the ECGT (in German)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"efrag\">EFRAG = European Financial Reporting Advisory Group<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is EFRAG?<\/em><\/h4>\n\n\n\n<p>EFRAG is an association of European stakeholders, national organisations and civil society organisations founded with the support of the European Commission. It plays a major role in the further development of the <a href=\"#csrd\">CSRD<\/a> and has two main tasks:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Financial Reporting<\/strong>: Influencing the development of <a href=\"#ifrs\">IFRS standards<\/a> (e.g. <a href=\"#sasb\">SASB standards<\/a>) from a European perspective and their contribution to the efficiency of the capital markets as well as advising the European Commission on the adoption of IFRS standards (and their amendments).<\/li>\n\n\n\n<li><strong>Sustainability Reporting<\/strong>: Development of drafts for EU standards on sustainability reporting and corresponding amendments for the European Commission.<\/li>\n<\/ol>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.efrag.org\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the EFRAG<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"emas\">EMAS = Eco-Management and Audit Scheme<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does EMAS stand for?<\/em><\/h4>\n\n\n\n<p>EMAS is a voluntary and comprehensive environmental management system of the European Union. If a company has fully implemented EMAS, it fulfils all the requirements of the \u2018DIN EN ISO 14001\u2019 standard. When implementing EMAS, companies systematically record all the effects of their business activities on the environment, make specific adjustments to improve their environmental performance and regularly report on the status quo and planned measures.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/green-business.ec.europa.eu\/emas_en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">Weitere Infos zu EMAS<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"epd\">EPD = Environmental Product Declaration<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is an EPD?<\/em><\/h4>\n\n\n\n<p>EPD stands for Environmental Product Declaration. This is information about a product that is intended to present possible environmental impacts by communicating data on technology, life cycle and environmental parameters, among other things. EPDs are particularly relevant to the construction industry. Standards that are applied when creating an Environmental Product Declaration are ISO 14040\/44, ISO 14025 and EN 15804.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.ibp.fraunhofer.de\/en\/expertise\/life-cycle-engineering\/applied-methods\/environmental-product-declarations.html\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on EPD<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"era\">ERA = Environmental Risk Assessment<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does ERA mean in terms of corporate sustainability?<\/em><\/h4>\n\n\n\n<p>The Environmental Risk Assessment (ERA) examines the effects on the environment of e.g. genetically modified plants, pesticides (plant protection products) or food and animal feed.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.efsa.europa.eu\/en\/topics\/topic\/environmental-risk-assessment\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on ERA<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.eea.europa.eu\/publications\/GH-07-97-595-EN-C2\/riskindex.html\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">detailed info on ERA<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"esg\">ESG = Environment, Social &amp; Governance<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is ESG?<\/em><\/h4>\n\n\n\n<p>ESG refers to a set of rules with so-called ESG criteria for assessing a financial product or company in terms of sustainability. The abbreviation ESG stands for<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Environment<\/li>\n\n\n\n<li>Social, see <a href=\"#csr\">CSR<\/a><\/li>\n\n\n\n<li>Governance = supervisory structures \/ corporate governance, s. <a href=\"#cg\">CG<\/a><\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.climatepartner.com\/en\/knowledge\/glossary\/environmental-social-governance-esg\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on ESG<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"esrs\">ESRS = European Sustainability Reporting Standards<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is the difference between ESRS and CSRD?<\/em><\/h4>\n\n\n\n<p>The <a href=\"#csrd\">CSRD<\/a> is the overarching directive that states that certain companies must publish reports on corporate sustainability. The ESRS (European Sustainability Reporting Standards) regulate what these reports must look like, i.e. what they should contain. The ESRS came into force on 1 January 2024.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/finance.ec.europa.eu\/capital-markets-union-and-financial-markets\/company-reporting-and-auditing\/company-reporting\/corporate-sustainability-reporting_en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the ESRS<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#csrd\" style=\"border-radius:13px;background-color:#73a0a0\">infos on the CSRD<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"eu-green-deal\">EU Green Deal = The European Green Deal<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is the EU Green Deal?<\/em><\/h4>\n\n\n\n<p>The European Green Deal (EU Green Deal) aims to make Europe the first climate-neutral continent by 2050. It includes the <a href=\"#csddd\">EU Supply Chain Act<\/a>, the <a href=\"#ce\">Circular Economy<\/a> Action Plan and measures to promote sustainable finance. The EU Commission fleshed out the Green Deal in 2021 with the \u2018Fit for 55\u2019 package of measures, which aims to reduce net <a href=\"#ghg\">greenhouse gas<\/a> emissions by 55% by 2030 compared to 1990 levels.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/commission.europa.eu\/strategy-and-policy\/priorities-2019-2024\/european-green-deal_en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the EU Green Deal<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"eu-taxonomy\">EU Taxonomy<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em>What is the EU Taxonomy?<\/em><\/em><\/h4>\n\n\n\n<p>The EU Taxonomy uses a points system to categorise economic activities according to how sustainable they are, with the aim of encouraging investors to invest more in sustainable companies. Positive ratings are given to measures relating to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Climate protection<\/li>\n\n\n\n<li>Adaptation to climate change<\/li>\n\n\n\n<li>Sustainable use and utilisation of water or marine resources<\/li>\n\n\n\n<li>Transition to a <a href=\"#ce\">circular economy<\/a><\/li>\n\n\n\n<li>Prevention or control of environmental pollution<\/li>\n\n\n\n<li>Protection and restoration of biodiversity and ecosystems<\/li>\n<\/ul>\n\n\n\n<p>At the same time, a company must not harm the environment, in order for example to achieve one of the goals, a company must not violate one of the other goals (\u201edo no significant harm\u201c).<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/eu-taxonomy.info\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the EU Taxonomy<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"gcd\">GCD = EU Green Claims Directive<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Are GCD and ECGT the same thing?<\/em><\/h4>\n\n\n\n<p>The Green Claims Directive is an EU directive in preparation (as of May 2024) and is intended to prevent greenwashing, that is, misleading claims about the environmental friendliness or sustainability of products or services. The GCD is part of the EU&#8217;s <a href=\"#ce\">circular economy<\/a> strategy. Planned measures of the GCD include, among others<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>clear criteria for how companies must demonstrate their environmental claims and labelling,<\/li>\n\n\n\n<li>the requirement that this information and labelling must be verified by an independent and accredited assessor, and<\/li>\n\n\n\n<li>new rules for the management of eco-labelling schemes to ensure that they are sound, transparent and reliable.<\/li>\n<\/ul>\n\n\n\n<p>The <a href=\"#ecgt\">ECGT<\/a> (= EU Directive on Empowering Consumers for the Green Transition) is related to the GCD, but focuses less on criteria for claims and more on consumer protection in relation to misleading claims.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/environment.ec.europa.eu\/topics\/circular-economy\/green-claims_en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the GCD<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#ecgt\" style=\"border-radius:13px;background-color:#73a0a0\">more info on the ECGT<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ghg\">GHG = Greenhouse Gas<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does GHG mean?<\/em><\/h4>\n\n\n\n<p>Greenhouse gases (GHG) are gases that retain heat in the Earth&#8217;s atmosphere. They therefore have an insulating effect and make life on earth possible in the first place, as without them it would be quite cold on the earth&#8217;s surface (approx. -18\u00b0C). The best-known greenhouse gas is <a href=\"#co2e\">CO2<\/a>, which scientists have assigned a global warming potential of 1. Other greenhouse gases include methane (28 times more climate-effective than CO2) and nitrous oxide (298 times more climate-effective than CO2). <\/p>\n\n\n\n<p>Certain human activities such as the use of fossil fuels and agricultural activities such as animal husbandry and the use of synthetic fertilisers increase the concentrations of greenhouse gases in the atmosphere and thus cause man-made climate change.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.epa.gov\/ghgemissions\/overview-greenhouse-gases\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on GHG<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.helmholtz-klima.de\/planetare-grenzen-klimawandel\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on GHG (in German)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"gri\">GRI = Global Reporting Initiative<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does GRI stand for?<\/em><\/h4>\n\n\n\n<p>The Global Reporting Initiative supports companies and institutions worldwide in sustainability reporting. The initiative provides the standards free of charge. The GRI Standards are the most widely used standards worldwide for reporting on corporate sustainability.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.globalreporting.org\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the GRI<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ifrs\">IFRS = IFRS Foundation = International Financial Reporting Standards Foundation<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does IFRS mean?<\/em><\/h4>\n\n\n\n<p>IFRS stands for \u2018International Financial Reporting Standards\u2019 and also for the foundation (IFRS Foundation) that sets these standards. The IFRS standards are intended to improve communication between companies and investors in order to facilitate the best possible investment decisions by promoting transparency, comparability and trust in financial reporting.<br>The IFRS Foundation created the <a href=\"#issb\">ISSB<\/a> (= International Sustainability Standards Board) to make the financial market more sustainable.<\/p>\n\n\n\n<p>Related abbreviations are <a href=\"#cdsb\">CDSB<\/a>, <a href=\"#efrag\">EFRAG<\/a>, <a href=\"#sasb\">SASB<\/a> and <a href=\"#tcfd\">TCFD<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.ifrs.org\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the Foundation<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"iooi\">IOOI = Input-Output-Outcome-Impact<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is IOOI?<\/em><\/h4>\n\n\n\n<p>The IOOI method is a technique used in the context of <a href=\"#cc\">CC<\/a> activities and for societal change to measure (evaluate) the impact of a project. The abbreviation is made up of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Input <\/strong>\u2013 all resources used (personnel, material, finances, non-material resources)<\/li>\n\n\n\n<li><strong>Output <\/strong>\u2013 quantifiable results of a project such as offers or products<\/li>\n\n\n\n<li><strong>Outcome <\/strong>\u2013 effect achieved in relation to the target group, e.g. actual knowledge gained by the target group (outcome) from published explanatory material used by the target group (output)<\/li>\n\n\n\n<li><strong>Impact <\/strong>\u2013 Long-term, societal impact of the project (objective of the project)<\/li>\n<\/ul>\n\n\n\n<p>To ensure that the activities of a project are geared towards the desired impact (impact logic), the project team plans from right to left, i.e. starting with the impact and working towards the input. This is to ensure that the resources used are actually the right ones to achieve the goal.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/diversityinleadership.citizensforeurope.org\/wp-content\/uploads\/2015\/07\/Presentation_CfE_141113_jup-1.pdf\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the IOOI method<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"iro\">IRO = Impacts, Risks and Opportunities<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does IRO mean?<\/em><\/h4>\n\n\n\n<p>For environmental reporting, companies describe the significant sustainability-related impacts, risks and opportunities (IRO) of their business activities in relation to the company&#8217;s financial performance, but also to the environment and society in general, for example as part of the <a href=\"#esrs\">ESRS<\/a>, <a href=\"#sasb\">SASB<\/a> standards or the <a href=\"#csrd\">CSRD<\/a>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>For the <strong>impacts<\/strong>, a company describes the positive and negative consequences of its own economic activity on areas such as the climate, biodiversity and human rights.<\/li>\n\n\n\n<li>The <strong>risks<\/strong> focus on the consequences of, for example, climate change or resource scarcity for the company. This category also includes changes towards greater sustainability, for example by adapting the legal framework and social change and their effects on the company.<\/li>\n\n\n\n<li>Under the heading of <strong>opportunities<\/strong>, the company looks at possibilities that arise from greater sustainability in its own business activities. These include the development of sustainable products, market entry into the sustainable segment or the reduction of costs (e.g. through energy savings).<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/envoria.com\/de\/insights-news\/your-guide-to-the-esrs-double-materiality-assessment\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on IRO (German)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"issb\">ISSB = International Sustainability Standards Board<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does ISSB stand for?<\/em><\/h4>\n\n\n\n<p>ISSB standards aim to create a global framework for capital markets to promote the use of sustainability-related financial information. The standards developed for the generation of sustainability reports are intended to provide investors and the financial market with all the information that decision-makers need. The main objectives of the ISSB are:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Development of a global standard for the disclosure of information on corporate sustainability<\/li>\n\n\n\n<li>Meeting the information needs of investors<\/li>\n\n\n\n<li>Provision of comprehensive sustainability information for the global capital markets by companies<\/li>\n\n\n\n<li>Promotion of information exchange for specific countries and\/or broader interest groups<\/li>\n<\/ol>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.ifrs.org\/groups\/international-sustainability-standards-board\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the ISSB<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"lca\">LCA = Life Cycle Assessment = Life Cycle Analysis<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What are LCA and PL<\/em>M<em>?<\/em><\/h4>\n\n\n\n<p>Life Cycle Assessment (LCA) is a form of accounting that focuses on the ecological impact of a product. In the LCA, the product life cycle management (PLM) is analysed in terms of its ecological impact. This assessment can be carried out in accordance with ISO 14040 and looks at parameters such as the carbon footprint, water and electricity consumption as well as waste production and the use of chemicals. The aim is to show which steps still need to be taken on the way to a <a href=\"#ce\">circular economy<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.ibp.fraunhofer.de\/en\/expertise\/life-cycle-engineering\/applied-methods\/life-cycle-assessment.html\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on LCA<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#tca\" style=\"border-radius:13px;background-color:#73a0a0\">info on True Cost Accounting (TCA)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"lsme\">LSME = ESRS for listed SMEs<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does SME mean? And what is the difference to VSME?<\/em><\/h4>\n\n\n\n<p>The LSME builds on the <a href=\"#vsme\">VSME<\/a>. Both standards will focus on the sustainability reporting of SMEs (small and medium-sized enterprises). Just like the VSME, the LSME is currently (as of May 2024) still under development. <a href=\"#efrag\">EFRAG<\/a> is developing the VSME for non-listed SMEs on a voluntary basis and the LSME for listed, i.e. capital market-oriented SMEs on a mandatory basis. The LSME is expected to come into force at the beginning of 2026.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.efrag.org\/sites\/default\/files\/sites\/webpublishing\/SiteAssets\/ESRS%20LSME%20ED.pdf\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on LSME<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#vsme\" style=\"border-radius:13px;background-color:#73a0a0\">info on VSME<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"nfrd\">NFRD = Non-Financial Reporting Directive<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does NFRD stand for?<\/em><\/h4>\n\n\n\n<p>The Non-Financial Reporting Directive is an instrument for advancing the EU&#8217;s CSR agenda and strengthening the foundations for sustainable investment. It is aimed at companies with more than 500 employees, i.e. large companies. Companies are not bound to a specific form when implementing the directive, but can rely on international, EU-based or national guidelines.<\/p>\n\n\n\n<p>The EU Parliament believes that greater transparency on social and environmental issues will make companies more resilient and better performing in both financial and non-financial terms. On the one hand, because it is an essential element of sustainable financial policy and, on the other, because it increases customer and investor confidence.<\/p>\n\n\n\n<p>The EU NFRD has been replaced by the <a href=\"#csrd\">EU CSRD<\/a>, which came into force on 5 January 2023 and further increases the requirements and scope of the NFRD.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/finance.ec.europa.eu\/publications\/commission-guidelines-non-financial-reporting_en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the NFRD<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.europarl.europa.eu\/RegData\/etudes\/BRIE\/2021\/654213\/EPRS_BRI(2021)654213_EN.pdf\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">Implementation Appraisal on the NFRD<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX:52019XC0620(01)\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">to the NFRD guidelines<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"pcaf\">PCAF = Partnership for Carbon Accounting Financials<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is PCAF?<\/em><\/h4>\n\n\n\n<p>The PCAF is a financial industry initiative that<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li>aims to develop and establish a global standard for <a href=\"#ghg\">greenhouse gas<\/a> accounting in the financial sector<\/li>\n\n\n\n<li>and to encourage financial institutions to voluntarily report on the emissions of their loans and investments.<\/li>\n<\/ol>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/carbonaccountingfinancials.com\/en\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the PCAF<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"pcf\">PCF = Product Carbon Footprint<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does PCF mean?<\/em><\/h4>\n\n\n\n<p>The product carbon footprint visualises the emissions a product produces over its entire <a href=\"#lca\">life cycle<\/a>. Recording the relevant data often reveals potential savings that not only benefit the environment, but also the financial situation. The <a href=\"#ccf\">corporate carbon footprint<\/a> is to be distinguished from this.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/ecochain.com\/blog\/product-carbon-footprint-pcf-guide\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the PCF<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"pri\">PRI = Principles of Responsible Investment<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does PRI mean?<\/em><\/h4>\n\n\n\n<p>The six PRI (Principles for Responsible Investment) offer a range of possible measures for incorporating <a href=\"#esg\">ESG<\/a> aspects into investment practice. At the same time, PRI also stands for the UN Finance Initiative, which developed these principles. Organisations in the financial sector can become part of this initiative and thereby commit to complying with the principles.<\/p>\n\n\n\n<p>The six PRI principles are:<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li>We will incorporate <strong>ESG issues<\/strong> into investment analysis and decision-making processes.<\/li>\n\n\n\n<li>We will be active owners and incorporate ESG issues into our <strong>ownership policies and practices<\/strong>.<\/li>\n\n\n\n<li>We will seek appropriate <strong>disclosure on ESG issues <\/strong>by the entities in which we invest.<\/li>\n\n\n\n<li>We will promote <strong>acceptance and implementation of the Principles within the investment industry<\/strong>.<\/li>\n\n\n\n<li>We will work together to <strong>enhance<\/strong> our <strong>effectiveness<\/strong> in implementing the <strong>Principles<\/strong>.<\/li>\n\n\n\n<li>We will each <strong>report on our activities and progress <\/strong>towards implementing the Principles.<\/li>\n<\/ol>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.unpri.org\/about-us\/what-are-the-principles-for-responsible-investment\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the PRI<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"rbc\">RBC = Responsible Business Conduct<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does RBC stand for?<\/em><\/h4>\n\n\n\n<p>The OECD Guidelines on Responsible Business Conduct are a guideline for governments to encourage multinational companies to act more responsibly. The RBC covers topics such as human rights, the environment and corruption. If a government has committed itself to the guideline, it should<\/p>\n\n\n\n<ul start=\"1\" class=\"wp-block-list\">\n<li>set up national RBC centres to publicise the contents of the Directive and confront companies that do not comply with it out of court.<\/li>\n\n\n\n<li>encourage \u2018risk-based due diligence\u2019 audits in companies. Through these audits, negative environmental impacts can be identified and all stakeholders can be consulted.<\/li>\n\n\n\n<li>support its implementation by creating a favourable legal framework.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/mneguidelines.oecd.org\/about.htm\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the RBC<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.oecd-ilibrary.org\/finance-and-investment\/oecd-guidelines-for-multinational-enterprises-on-responsible-business-conduct_81f92357-en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">to the RBC Guidelines<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#csddd\" style=\"border-radius:13px;background-color:#73a0a0\">info on the corresponding EU directive: CSDDD<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"redd+\">REDD+ = Reducing&nbsp;Emissions from&nbsp;Deforestation and Forest&nbsp;Degradation<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is REDD+?<\/em><\/h4>\n\n\n\n<p>REDD+ is a programme of the UN Climate Change Conference in Paris to protect forests as a means of limiting climate change. The + stands for other forest-related climate protection activities, e.g. the sustainable management of forests. Less developed countries can receive financial rewards through the programme if they stop deforestation and thereby reduce CO2 emissions.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/unfccc.int\/topics\/land-use\/workstreams\/redd\/what-is-redd\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on REDD+<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/redd.unfccc.int\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">to the official website<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sasb\">SASB = Sustainability Accounting Standards Board<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does SASB mean?<\/em><\/h4>\n\n\n\n<p>The standards of the Sustainability Accounting Standards Board (SASB) help companies to prepare relevant information on corporate sustainability for their investors. SASB standards are available for 77 different industries and facilitate reporting by:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Identification of industry-specific sustainability-related risks and opportunities and their short-, medium- or long-term impact on the company&#8217;s cash flow, access to finance and cost of capital<\/li>\n\n\n\n<li>Identification of those key figures and topics that are most likely to be of use to investors<\/li>\n<\/ul>\n\n\n\n<p>The SASB is part of the <a href=\"#ifrs\">IFRS Foundation<\/a> and forms a good basis for fulfilling the <a href=\"#issb\">ISSB<\/a> standards.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/sasb.ifrs.org\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the SASB<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sbti\">SBTi = Science Based Targets Initiative<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>Which targets does the SBTi focus on?<\/em><\/h4>\n\n\n\n<p>The Science Based Targets Initiative (SBTi) supports companies worldwide by showing them a clear path to reducing emissions. Targets are considered \u2018science-based\u2019 if they are in line with what the latest climate science says is necessary to achieve the goals of the Paris Agreement &#8211; limiting global warming to 1.5\u00b0C above pre-industrial levels. To formulate such a target, the initiative takes the following steps:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Commitment<\/strong>: Submission of a letter in which the company expresses its intention to set a science-based target<\/li>\n\n\n\n<li><strong>Development<\/strong>: Elaboration of an emission reduction target in accordance with the SBTi criteria<\/li>\n\n\n\n<li><strong>Submission<\/strong>: Official validation of the target by the SBTi<\/li>\n\n\n\n<li><strong>Communication<\/strong>: Announcing the target and informing stakeholders<\/li>\n\n\n\n<li><strong>Publication<\/strong>: Reporting on company-wide emissions and annual tracking of target achievement<\/li>\n<\/ol>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/sciencebasedtargets.org\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the SBTi<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sbt-nature\">SBT for Nature = Science Based Targets for Nature<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>What is SBT for Nature?<\/em><\/em><\/em><\/h4>\n\n\n\n<p>The SBT for Nature are a step-by-step guide from the <a href=\"#sbtn\">Science Based Targets Network (SBTN)<\/a> for companies to reduce their own ecological footprint and comply with planetary boundaries. The targets focus on the areas of freshwater, land, biodiversity and ocean. The topic of climate is covered by <a href=\"#sbti\">SBTi<\/a>. The five steps of SBT for Nature are:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Assess<\/strong>: Check the impact of the value chain on nature &amp; create a list of potential environmental impacts<\/li>\n\n\n\n<li><strong>Prioritise<\/strong>: Start with areas where actions have the greatest impact (in operations, entire value chain &amp; value chain environment)<\/li>\n\n\n\n<li><strong>Set targets<\/strong>: Based on the company&#8217;s key impacts<\/li>\n\n\n\n<li><strong>Take action<\/strong>: Avoid, reduce, restore &amp; regenerate, transform (step still in progress)<\/li>\n\n\n\n<li><strong>Get an overview<\/strong>: Monitor progress, adjust strategy if necessary &amp; report publicly on progress (step still in progress)<\/li>\n<\/ol>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/sciencebasedtargetsnetwork.org\/companies\/take-action\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the SBT for Nature<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#sbti\" style=\"border-radius:13px;background-color:#73a0a0\">more info on the Science Based Targets<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sbtn\">SBTN =&nbsp;Science Based Targets Network<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>What is the difference between SBTi and SBTN?<\/em><\/em><\/em><\/h4>\n\n\n\n<p>The SBTN is based on the <a href=\"#sbti\">SBTi<\/a> &#8211; the collaborating organisations overlap. While the SBTi focusses on climate protection, the SBTN deals with the entirety of environmental sustainability and develops methods for cities and companies to promote compliance with planetary boundaries.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/sciencebasedtargetsnetwork.org\/about\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the SBTN<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sdgs\">SDGs = Sustainable Development Goals<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>SDGs &#8211; THE goals of our time<\/em><\/em><\/em><\/h4>\n\n\n\n<p>As \u2018Sustainable Development Goals\u2019 is rather complicated to say, the abbreviation \u2018SDGs\u2019 is often used. The United Nations (UN) has formulated the 17 goals as a guide for decision-making so that no one or nothing is overlooked. They deal with topics such as poverty, education, biodiversity, corporate sustainability and sustainable lifestyles as well as greater equality among people. The UN wants to achieve the goals by 2030.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/sdgs.un.org\/goals\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the SDGs<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sfdr\">SFDR = Sustainable Finance Disclosure Regulation<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>Are NFRD and SFDR the same thing?<\/em><\/em><\/em><\/h4>\n\n\n\n<p>First of all, while the <a href=\"#nfrd\">NFRD<\/a> and SFDR have similar objectives, the SFDR is aimed specifically at developers and providers of financial products and financial advisors. SFDR stands for \u2018Regulation on sustainability-related disclosure requirements in the financial services sector\u2019. It obliges financial service providers to inform their customers how and whether sustainability factors play a role in their financial products. They must also disclose the material adverse impacts of their financial products in terms of sustainability. The regulation is particularly relevant for <a href=\"#esg\">ESG<\/a> products.<\/p>\n\n\n\n<p>The SFDR is part of the EU&#8217;s Sustainable Finance Framework, together with the <a href=\"#csrd\">CSRD<\/a> and the <a href=\"#eu-taxonomy\">EU Taxonomy<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/kpmg.com\/ie\/en\/home\/insights\/2021\/03\/what-is-the-sfdr-sustainable-futures.html\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the SFDR<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#nfrd\" style=\"border-radius:13px;background-color:#73a0a0\">info on the NFRD<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sdpi\">SDPI = UN Sustainable Development Performance Indicators<\/h3>\n\n\n\n<p>see <a href=\"#unsdpi\">UNSDPI<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sse\">SSE = Social and Solidarity Economy<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>What does SSE stand for?<\/em><\/em><\/em><\/h4>\n\n\n\n<p>The SSE (social and solidarity economy) is a collective term for organisations such as cooperatives, associations, foundations, social enterprises, self-help groups and other institutions that work in accordance with the values and principles of the SSE. The central principle is that these organisations carry out their economic, social and ecological activities in the collective\/general interest. The activities are based on<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>voluntary co-operation<\/li>\n\n\n\n<li>mutual help<\/li>\n\n\n\n<li>democratic and\/or participatory leadership<\/li>\n\n\n\n<li>Autonomy and independence<\/li>\n\n\n\n<li>the primacy of people and social purpose over capital in the distribution and utilisation of surpluses, profits or assets<\/li>\n<\/ul>\n\n\n\n<p>The following values best describe the work according to the SSE:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Care for people and the environment<\/li>\n\n\n\n<li>Equality and fairness<\/li>\n\n\n\n<li>Interdependence<\/li>\n\n\n\n<li>Self-administration<\/li>\n\n\n\n<li>Transparency<\/li>\n\n\n\n<li>Accountability<\/li>\n\n\n\n<li>Achieving decent work and livelihoods<\/li>\n<\/ul>\n\n\n\n<p>The term emerged in the 1990s as a response to social inequality and poor working conditions in less developed countries.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.ilo.org\/topics\/social-and-solidarity-economy\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the SSE<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.coursera.org\/lecture\/local-economic-development\/social-and-solidarity-economy-1sm5C\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">watch video on the SSE<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/unsse.org\/massive-open-online-course-social-and-solidarity-economy\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">to the UN&#8217;s online course on SSE<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"tca\">TCA = True Cost Accounting<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>What is the difference between TCA and LCA?<\/em><\/em><\/em><\/h4>\n\n\n\n<p>The aim of true cost accounting (TCA) is to visualise all the costs associated with a product or service. It includes not only the obvious costs, but also the hidden ones, for example any CO2 emissions in the supply chain, the consequences of environmental degradation caused by production or health effects &#8211; in other words, all values that are often externalised. Here, the term externalisation refers to all costs that a company does not bear or include in the purchase price, but leaves to other people or nature as \u2018damage\u2019. The TCA also assesses, for example, the <a href=\"#ce\">circularity of a product<\/a> and takes into account human well-being and respect for human rights. The TCA is particularly popular in connection with the food industry. The TCA builds the analysis on the <a href=\"#lca\">LCA<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/tca2f.org\/wp-content\/uploads\/2022\/03\/TCA_Agrifood_Handbook.pdf\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on TCA<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#lca\" style=\"border-radius:13px;background-color:#73a0a0\">info on Life Cycle Assessment (LCA)<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"tcfd\">TCFD = Task Force on Climate-related Financial Disclosures<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>What is the TCFD?<\/em><\/em><\/em><\/h4>\n\n\n\n<p>Because climate change poses a financial risk to the global economy, the <a href=\"https:\/\/www.fsb.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Financial Stability Board (FSB)<\/a> established the Task Force on Climate-related Financial Disclosures (TCFD). The TCFD was set up to improve and expand reporting on climate-related financial information.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-vimeo wp-block-embed-vimeo wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<span class=\"wpex-responsive-media\"><iframe loading=\"lazy\" title=\"2020 TCFD Status Report - Message from Mike Bloomberg\" src=\"https:\/\/player.vimeo.com\/video\/473093899?dnt=1&amp;app_id=122963\" width=\"980\" height=\"551\"  allow=\"autoplay; fullscreen; picture-in-picture; clipboard-write; encrypted-media; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\"><\/iframe><\/span>\n<\/div><\/figure>\n\n\n\n<p>The TCFD is now soon to be dissolved, with the <a href=\"#ifrs\">IFRS Foundation<\/a> (International Financial Reporting Standards) taking over the work.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"tnfd\">TNFD = Task-Force on Nature Related Financial Disclosure<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What does TNFD stand for?<\/em><\/h4>\n\n\n\n<p>The Task Force on Nature Related Financial Disclosure (<a href=\"https:\/\/tnfd.global\/\" target=\"_blank\" rel=\"noreferrer noopener\">TNFD<\/a>) is an initiative that develops guidelines for sustainability reporting on the topic of biodiversity. The reporting is intended to make companies and financial organisations aware of the risks and opportunities for their own company arising from their impact and dependence on nature and to provide investors with better information.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/tnfd.global\/engage\/tnfd-consultation-groups\/\" target=\"_blank\" rel=\"noreferrer noopener\">TNFD Consultation Groups<\/a> are associations of organisations and companies for different countries or regions that discuss, apply and provide feedback on the TNFD recommendations. The <a href=\"https:\/\/www.forum-ng.org\/de\/projekte\/tnfd-consultation-group-germany\" target=\"_blank\" rel=\"noreferrer noopener\">TNFD Consultation Group Germany<\/a> was established in cooperation with <a href=\"https:\/\/baumev.de\/\" target=\"_blank\" rel=\"noreferrer noopener\">B.A.U.M. e.V.<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/tnfd.global\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the TNFD<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.forum-ng.org\/de\/projekte\/tnfd-consultation-group-germany\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the TNFD Consultation Group Germany<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ungc\">UN Global Compact<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>What is the difference between the SDGs and the UN Global Compact?<\/em><\/em><\/em><\/h4>\n\n\n\n<p>As the name suggests, the UN Global Compact is part of the <a href=\"https:\/\/unric.org\/de\/\" target=\"_blank\" rel=\"noreferrer noopener\">United Nations<\/a>. The initiative aims to address and support companies in acting sustainably &#8211; to be a \u2018force for good\u2019. The 10 principles of the UN Global Compact show what exactly this means for the initiative:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Businesses should support and respect the protection of internationally proclaimed human rights; and<\/li>\n\n\n\n<li>make sure that they are not complicit in human rights abuses.<\/li>\n\n\n\n<li>Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;<\/li>\n\n\n\n<li>the elimination of all forms of forced and compulsory labour;<\/li>\n\n\n\n<li>the effective abolition of child labour; and<\/li>\n\n\n\n<li>the elimination of discrimination in respect of employment and occupation.<\/li>\n\n\n\n<li>Businesses should support a precautionary approach to environmental challenges;<\/li>\n\n\n\n<li>undertake initiatives to promote greater environmental responsibility; and<\/li>\n\n\n\n<li>encourage the development and diffusion of environmentally friendly technologies.<\/li>\n\n\n\n<li>Businesses should work against corruption in all its forms, including extortion and bribery.<\/li>\n<\/ol>\n\n\n\n<p>The 10 principles are based on the Universal Declaration of Human Rights, the core labour standard of the International Labour Organization (ILO), the Rio Declaration on Environment and Development and the United Nations Convention against Corruption. Based on these 10 principles and the <a href=\"https:\/\/sdgs.un.org\/goals\" target=\"_blank\" rel=\"noreferrer noopener\">17 Sustainable Development Goals<\/a> (SDGs), the UN Global Compact offers resources, events and materials for companies.<\/p>\n\n\n\n<p>The main difference between the SDGs and the UN Global Compact is that the 17 goals are formulated in general terms and thus address everyone: states, NGOs, companies, private individuals, etc.; the UN Global Compact is aimed specifically at companies as a force for change.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/unglobalcompact.org\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the UN Global Compact<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#sdgs\" style=\"border-radius:13px;background-color:#73a0a0\">more on the SDGs<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"unrisd\">UNRISD = United Nations Research Institute for Social Development<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em>What is the UNRISD?<\/em><\/h4>\n\n\n\n<p>UNRISD stands for <em>United Nations Research Institute for Social Development<\/em>. The institute conducts interdisciplinary research and policy analyses on social issues such as gender, environmental and climate justice, alternative economies and transformation. To this end, UNRISD works together with universities, working groups and financial institutions, for example.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.unrisd.org\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the UNRISD<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"unsdpi\">UNSDPI = UN Sustainable Development Performance Indicators<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>What does UNSDPI stand for?<\/em><\/em><\/em><\/h4>\n\n\n\n<p>The UNSDPI are impact indicators for the <a href=\"#sdgs\">Sustainable Development Goals (SDGs)<\/a>, measuring the extent to which organisations promote sustainable development or implement the SDGs. The UNSDPI handbook highlights new methods and indicators that integrate ignored or neglected problem areas of previously used measurement and reporting models. A dedicated <a href=\"https:\/\/sdpi.unrisd.org\/platform\/\" target=\"_blank\" rel=\"noreferrer noopener\">platform<\/a> on the UNSDPI website facilitates access to the methods.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/sdpi.unrisd.org\/\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the UNSDPI<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"vsme\">VSME = Voluntary SME-Standard<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>What is VSME?<\/em><\/em><\/em><\/h4>\n\n\n\n<p>VSME stands for \u2018voluntary standard for sustainability reporting by SMEs\u2019 (SME = small and medium-sized enterprises). Even if the <a href=\"#csrd\">CSRD<\/a> or <a href=\"#esrs\">ESRS<\/a> do not apply to SMEs, many still like to publish a sustainability report or are asked to do so by business partners or customers. In order to offer SMEs a standard that is suitable for them, the EU, or more precisely <a href=\"#efrag\">EFRAG<\/a>, prepared a <a href=\"https:\/\/www.efrag.org\/sites\/default\/files\/sites\/webpublishing\/SiteAssets\/VSME%20ED%20January%202024.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">draft in January 2024<\/a> to facilitate the implementation of sustainability reporting in smaller companies. The final version is expected towards the end of 2024.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.efrag.org\/en\/projects\/voluntary-reporting-standard-for-smes-vsme\/exposure-draft-consultation\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on VSME<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#lsme\" style=\"border-radius:13px;background-color:#73a0a0\">info on the related LSME<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"weee\">WEEE = Waste of&nbsp;Electrical and&nbsp;Electronic&nbsp;Equipment<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><em><em><em>WEEE &#8211; Together we can do it?<\/em><\/em><\/em><\/h4>\n\n\n\n<p>What sounds like a cool way of saying \u2018we\u2019 simply means \u2018electronic waste\u2019. And because this e-waste, that is, discarded fridges, computers or mobile phones, poses a major problem when it comes to disposal and recycling, the EU has created a directive on the subject: the WEEE Directive. It is intended to ensure the proper disposal of waste electrical and electronic equipment within the EU.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/environment.ec.europa.eu\/topics\/waste-and-recycling\/waste-electrical-and-electronic-equipment-weee_en\" style=\"border-radius:13px;background-color:#73a0a0\" target=\"_blank\" rel=\"noreferrer noopener\">more info on the WEEE Directive<\/a><\/div>\n<\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><em><a href=\"https:\/\/www.tinateucher.com\/en\/profile\/\">Tina Teucher<\/a> is an expert in corporate sustainability and works as a <a href=\"https:\/\/www.tinateucher.com\/en\/sustainability-consulting\/\">sustainability consultant<\/a>. She specialises in sustainable finance, biodiversity and regenerative business. Tina Teucher is active as a <a href=\"https:\/\/www.tinateucher.com\/en\/moderation-sustainability\/\">event moderator<\/a> and <a href=\"https:\/\/www.tinateucher.com\/en\/speeches-sustainability\/\">speaker<\/a> in Germany and other European countries.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">References CSR Glossary<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.greenbiz.com\/article\/csrd-csddd-esrs-and-more-cheat-sheet-eu-sustainability-regulations?utm_source=THE+CLIMATE+CHOICE&amp;utm_campaign=58f0288a8a-EMAIL_CAMPAIGN_11_2_2022_COPY_02&amp;utm_medium=email&amp;utm_term=0_df69d73dd8-58f0288a8a-370351333\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.greenbiz.com\/article\/csrd-csddd-esrs-and-more-cheat-sheet-eu-sustainability-regulations?utm_source=THE+CLIMATE+CHOICE&amp;utm_campaign=58f0288a8a-EMAIL_CAMPAIGN_11_2_2022_COPY_02&amp;utm_medium=email&amp;utm_term=0_df69d73dd8-58f0288a8a-370351333<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.csr-in-deutschland.de\/DE\/CSR-Allgemein\/CSR-in-der-Praxis\/CSR-Berichterstattung\/Standards\/standards.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.csr-in-deutschland.de\/DE\/CSR-Allgemein\/CSR-in-der-Praxis\/CSR-Berichterstattung\/Standards\/standards.html<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/nordesg.de\/was-bedeutet-esg\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/nordesg.de\/was-bedeutet-esg\/<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.nachhaltigkeit.info\/artikel\/abgrenzung_cs_csr_cc_1501.htm\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.nachhaltigkeit.info\/artikel\/abgrenzung_cs_csr_cc_1501.htm<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.hejrockit-werbeagentur.com\/blog\/blogartikel\/sdg-gri-csr-\u2026-der-begriffs-dschungel-nachhaltigkeit\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.hejrockit-werbeagentur.com\/blog\/blogartikel\/sdg-gri-csr-\u2026-der-begriffs-dschungel-nachhaltigkeit<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/nachhaltigwirtschaften.at\/de\/fdz\/projekte\/puis\/abkuerzungen-glossar.php\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/nachhaltigwirtschaften.at\/de\/fdz\/projekte\/puis\/abkuerzungen-glossar.php<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/deutsche-recycling.de\/weee-eu-richtlinie\/#internationale-rahmenbedinungen\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/deutsche-recycling.de\/weee-eu-richtlinie\/#internationale-rahmenbedinungen<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ffe.de\/veroeffentlichungen\/info-was-ist-eigentlich-die-sustainable-finance-disclosure-regulation-sfdr\/\">https:\/\/www.ffe.de\/veroeffentlichungen\/info-was-ist-eigentlich-die-sustainable-finance-disclosure-regulation-sfdr\/<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.un.org\/sustainabledevelopment\/sustainable-development-goals\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.un.org\/sustainabledevelopment\/sustainable-development-goals\/<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.wwf.de\/themen-projekte\/landwirtschaft\/ernaehrung-konsum\/der-wahre-preis-unserer-lebensmittel\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.wwf.de\/themen-projekte\/landwirtschaft\/ernaehrung-konsum\/der-wahre-preis-unserer-lebensmittel<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.wwf.de\/fileadmin\/fm-wwf\/Publikationen-PDF\/Landwirtschaft\/studie-true-cost-accounting-kurzversion.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.wwf.de\/fileadmin\/fm-wwf\/Publikationen-PDF\/Landwirtschaft\/studie-true-cost-accounting-kurzversion.pdf<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ibp.fraunhofer.de\/de\/kompetenzen\/ganzheitliche-bilanzierung\/methoden-ganzheitliche-bilanzierung\/oekobilanzierung.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.ibp.fraunhofer.de\/de\/kompetenzen\/ganzheitliche-bilanzierung\/methoden-ganzheitliche-bilanzierung\/oekobilanzierung.html<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/sustainabilityservices.eurofins.com\/services\/life-cycle-assessment-lca\/?msclkid=d036cbc6444c14e26a8daefefd31b7ea&amp;utm_source=bing&amp;utm_medium=cpc&amp;utm_campaign=su_uk_ww_lead-gen_always-on_assessment&amp;utm_term=life%20cycle%20assessments&amp;utm_content=su_uk_ww_lead-gen_always-on_assessment_life-cycle\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/sustainabilityservices.eurofins.com\/services\/life-cycle-assessment-lca\/?msclkid=d036cbc6444c14e26a8daefefd31b7ea&amp;utm_source=bing&amp;utm_medium=cpc&amp;utm_campaign=su_uk_ww_lead-gen_always-on_assessment&amp;utm_term=life%20cycle%20assessments&amp;utm_content=su_uk_ww_lead-gen_always-on_assessment_life-cycle<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.csr-in-deutschland.de\/DE\/CSR-Allgemein\/CSR-Grundlagen\/csr-grundlagen.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.csr-in-deutschland.de\/DE\/CSR-Allgemein\/CSR-Grundlagen\/csr-grundlagen.html<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.csr-in-deutschland.de\/DE\/CSR-Allgemein\/CSR-Politik\/CSR-in-der-EU\/Corporate-Sustainability-Reporting-Directive\/corporate-sustainability-reporting-directive-art.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.csr-in-deutschland.de\/DE\/CSR-Allgemein\/CSR-Politik\/CSR-in-der-EU\/Corporate-Sustainability-Reporting-Directive\/corporate-sustainability-reporting-directive-art.html<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.nachhaltigkeit.info\/artikel\/abgrenzung_cs_csr_cc_1501.htm\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.nachhaltigkeit.info\/artikel\/abgrenzung_cs_csr_cc_1501.htm<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/kpmg.com\/de\/en\/home\/insights\/2024\/05\/kpmg-fachbuch-esrs-a-visual-approach.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/kpmg.com\/de\/en\/home\/insights\/2024\/05\/kpmg-fachbuch-esrs-a-visual-approach.html<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.tagesschau.de\/ausland\/europa\/faq-eu-taxonomie-101.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.tagesschau.de\/ausland\/europa\/faq-eu-taxonomie-101.html<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/kpmg.com\/xx\/en\/home\/insights\/2023\/02\/the-eu-corporate-sustainability-due-diligence-directive.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/kpmg.com\/xx\/en\/home\/insights\/2023\/02\/the-eu-corporate-sustainability-due-diligence-directive.html<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/wirtschaftslexikon.gabler.de\/definition\/esg-kriterien-120056\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/wirtschaftslexikon.gabler.de\/definition\/esg-kriterien-120056<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.helmholtz-klima.de\/klimawissen\/co2-aequivalente\">https:\/\/www.helmholtz-klima.de\/klimawissen\/co2-aequivalente<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/vfu.de\/tool\/partnership-for-carbon-accounting-financials-pcaf\/pcaf-faq\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/vfu.de\/tool\/partnership-for-carbon-accounting-financials-pcaf\/pcaf-faq\/<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.umweltbundesamt.de\/umweltberichterstattung-berichtsstandards\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.umweltbundesamt.de\/umweltberichterstattung-berichtsstandards<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.dke.de\/de\/arbeitsfelder\/components-technologies\/circular-economy\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.dke.de\/de\/arbeitsfelder\/components-technologies\/circular-economy<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.consilium.europa.eu\/de\/press\/press-releases\/2024\/02\/20\/consumer-rights-final-approval-for-the-directive-to-empower-consumers-for-the-green-transition\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.consilium.europa.eu\/de\/press\/press-releases\/2024\/02\/20\/consumer-rights-final-approval-for-the-directive-to-empower-consumers-for-the-green-transition\/<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/sciencebasedtargetsnetwork.org\/take-action-now\/take-action-as-a-company\/what-you-can-do-now\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/sciencebasedtargetsnetwork.org\/take-action-now\/take-action-as-a-company\/what-you-can-do-now\/<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.haufe.de\/sustainability\/strategie\/handbuch-sustainable-development-performance-indicators_575772_609462.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.haufe.de\/sustainability\/strategie\/handbuch-sustainable-development-performance-indicators_575772_609462.html<\/a><\/p>\n\n\n\n<p>https:\/\/www.efrag.org\/News\/Public-479\/EFRAGs-public-consultation-on-two-Exposure-Drafts-on-sustainability-r<\/p>\n\n\n\n<p><a href=\"https:\/\/www.emas.de\/was-ist-emas\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.emas.de\/was-ist-emas<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.umweltbundesamt.de\/sites\/default\/files\/medien\/11850\/publikationen\/cbam_factsheet_de.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.umweltbundesamt.de\/sites\/default\/files\/medien\/11850\/publikationen\/cbam_factsheet_de.pdf<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.kfw.de\/nachhaltigkeit\/%C3%9Cber-die-KfW\/Nachhaltigkeit\/Nachhaltige-Unternehmensprozesse\/Nachhaltiges-Investment\/Principles-for-Responsible-Investment-(PRI)\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.kfw.de\/nachhaltigkeit\/%C3%9Cber-die-KfW\/Nachhaltigkeit\/Nachhaltige-Unternehmensprozesse\/Nachhaltiges-Investment\/Principles-for-Responsible-Investment-(PRI)\/<\/a><\/p>\n\n\n\n<p>https:\/\/solidflow.io\/knowledge\/iro-csrd<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<div class=\"shariff shariff-align-flex-start shariff-widget-align-flex-start\" data-services=\"pinterest%7Cfacebook\" data-url=\"https%3A%2F%2Fwww.tinateucher.com%2Fen%2Fblog%2Fcsr-glossary-corporate-sustainability-the-most-important-terms%2F\" data-timestamp=\"1775669606\" data-backendurl=\"https:\/\/www.tinateucher.com\/en\/wp-json\/shariff\/v1\/share_counts?\"><div class=\"ShariffHeadline\">Teilen | Share:<\/p><\/div><ul class=\"shariff-buttons theme-round orientation-horizontal buttonsize-medium\"><li class=\"shariff-button linkedin shariff-nocustomcolor\" style=\"background-color:#1488bf\"><a href=\"https:\/\/www.linkedin.com\/sharing\/share-offsite\/?url=https%3A%2F%2Fwww.tinateucher.com%2Fen%2Fblog%2Fcsr-glossary-corporate-sustainability-the-most-important-terms%2F\" title=\"Bei LinkedIn teilen\" aria-label=\"Bei LinkedIn teilen\" role=\"button\" rel=\"noopener nofollow\" class=\"shariff-link\" style=\"; background-color:#0077b5; color:#fff\" target=\"_blank\"><span class=\"shariff-icon\" style=\"\"><svg width=\"32px\" height=\"20px\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 27 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