Companies, countries (including Canada), and cities around the world are setting targets to achieve net-zero. This means they will continuously work to reduce GhG emissions as much as possible, and then they will find ways to offset or balance out their remaining emissions so that their net measured carbon impact is zero.

Prioritize GhG reductions –before you purchase offsets.

For many businesses, getting to zero will be challenging without purchasing carbon offsets (also called carbon credits). Carbon offsets are reductions in GhG emissions that are achieved outside your business –and each year you purchase ownership of those GhG reductions. (See carbon offset definition in Glossary.)

Net-zero is a tall task for many businesses, and the devil is in the details. What are you including in your measurement –your largest and most significant emissions sources? Are you prioritizing reductions before you purchase offsets?

Vancity’s here to help you take climate action. Check out these Vancity resources:

• Our areas of focus for operational GhG reductions, explanation of our carbon neutral commitment and carbon offset criteria, and our commitments to measure and report financed emissions.
• Vancity’s Planet-Wise Business Solutions Loan.

Vancity’s community partners can also help: 

• Get more local: LOCO BC.
• Get Climate Smart – tools and training for GhG measurement, management and certification.

Want to learn more about climate action for your business? Here are some resources:

• Clean Energy BC provides information on a variety of programs, incentives and other support for energy-efficiency and low-carbon upgrades for your buildings, vehicles, and equipment –including advice on how to combine federal and provincial incentives. Not-so-hot tip: check for updates because sometimes government incentives come and go.
• Climate Smart Case Studies: Want more ideas and inspiration for climate action? Check out case studies of what SMEs around BC and other parts of Canada are achieving.
• Guide to Greenhouse Gas Management for Small Business: This US EPA (Environmental Protection Agency) publication provides detailed guidance for small businesses to learn how to do your own GhG inventory –how and what to measure, and how to collect data. It doesn’t guide you in how to achieve GhG reductions.
• Energy-saving support for small businesses: Does your business use natural gas for heating or production or manufacturing equipment? Fortis BC provides energy-saving tips for business and for specific industry sectors, such as restaurants and manufacturers. You can also get free 1:1 advice from GreenStep Solutions, and information about rebates that can help you save energy, cut costs, and reduce your carbon footprint.
• Electricity savings tips and rebate for businesses: BC Hydro Power Smart also offers rebates and tips on electricity savings related to lighting, and equipment such as pumps, compressors and refrigeration.
• Plug In BC provides info on all the incentives available for purchase of electric vehicles (EVs) and EV chargers.
• SmartDriver–the federal government provides free, practical training to truckers, school bus, and other professional drivers to help commercial and institutional fleets to lower their fuel consumption, operating costs and harmful vehicle emissions. Fleet energy-management training that helps truckers, transit operators, school bus and other professional drivers improve fuel efficiency by up to 35 percent. Driver training is also available from other providers.
• SME Climate Hub: A global community of businesses committed to climate action, the SME Climate Hub provides tools and resources to help small-to-medium size enterprises reduce your carbon footprint.

 

Carbon: A short-cut for “carbon dioxide” (CO2) – which is, by far, the most common of all the greenhouse gases. In fact, we often talk about carbon when we really mean several different greenhouse gases.

Carbon dioxide (C02): The most common of the seven heat-trapping (greenhouse) gases. CO2 is released through human activities such as deforestation and burning fossil fuels, as well as natural processes such as volcanic eruptions.

Carbon footprint: A measure of the amount of carbon dioxide (CO2) and other greenhouse gases emitted by your business activities. Your footprint is measured in tonnes of C02e (see below).

Carbon intensity: The rate of GhG emissions relative to another activity, such as revenue generated, or greenhouse gas emissions per square metre of a building, or per unit of production. It’s important to reduce carbon intensity and to reduce the total amount of GhGs generated by your business.

Carbon negative: Means the same as “climate positive” i.e., activities that go beyond achieving net-zero carbon emissions, by removing additional greenhouse gases (GhGs) from the atmosphere.

Carbon neutral: Any greenhouse gases released into the atmosphere from a company’s activities is balanced by an equivalent amount being removed by another business, organization or project. Typically, businesses cannot achieve carbon neutrality without purchasing carbon offsets (see below).

Carbon offsets (also called carbon credits): Reductions or capture of GhG emissions from projects that a third party quantifies and bundles for sale. Carbon offsets are sold to companies to compensate for emissions that businesses are unable to reduce. Each carbon offset is a transferrable instrument certified by governments or independent certification bodies and represents an emissions reduction of one metric tonne of CO2e.

Carbon sequestration: A natural or technical process that removes carbon dioxide from the atmosphere, storing it in solid or liquid form. Forests, bogs, and other vegetation (called nature-based solutions) can sequester (absorb and store) carbon emissions, and innovative technologies are being developed to capture and store greenhouse gas (GHG) emissions.

Climate change: This is the long-term shift in global or regional climate patterns, especially the rise in global temperatures that began accelerating with the Industrial Revolution, as industry and other human activity is causing climate change. Climate change is resulting in extreme weather events and other impacts around the world.

Climate emergency: A situation in which urgent action is required to reduce or halt climate change and avoid potentially irreversible environmental (and social and economic) damage resulting from it. In 2020, the United Nations Secretary General called on all national governments to declare a climate emergency and stay on an emergency footing until carbon neutrality is reached.

Climate adaptation: Adapting to climate change means taking action to prepare for and adjust to both the current effects of climate change and the predicted impacts in the future. While climate change is real and it is happening, there are lots of opportunities for businesses to mitigate (I.e., reduce GhG emissions) –not just adapt.

Climate positive: Means the same as “carbon negative” i.e., activities that go beyond achieving net-zero carbon emissions, to create an environmental benefit by removing additional C02e from the atmosphere.

CO2e i.e., Carbon dioxide equivalent: The unit of measurement used to calculate GhG emissions. The “e” is for “equivalent” because there are actually 7 main greenhouse gases captured in measurement, but we calculate their equivalency to C02, and often just refer to them all as “carbon emissions” or “carbon footprint”, because carbon dioxide (CO2) is by far the most common greenhouse gas.

Co-benefits: A term that refers to benefits that a business (or community) may generate at the same time as reducing GhG emissions. For example, reducing fuel consumption will reduce operating costs while reducing GhG emissions.

Decarbonize (decarbonization): Lowering the amount or intensity of greenhouse gas emissions that are generated by your business activities. Implementing changes or solutions that do not emit any (or as much) carbon (GhGs).

Fuel-switching: Fuel switching is the substitution of one energy source for another in order to meet requirements for heat, power, and/or electrical generation. In British Columbia, because our electricity supply is mostly hydro-electricity, this energy source generates much lower GhG emissions. So, fuel-switching from fossil fuels (gasoline, natural gas, oil, or diesel) to electricity energy supply is a great way to reduce GhG emissions. 

GhG emissions (or GHG emissions): This is the short form for “greenhouse gas” emissions. See definition of greenhouse gases below.

Global warming:  This refers to the impact of all the greenhouse gases being emitted into our atmosphere. Human activity is causing a net warming effect on our planet. Even if you have a cold winter or cold day, overall, the earth is warming, and the pace of warming has accelerated in the last 40 years.

Greenhouse gases (GhGs or GHGs): Carbon Dioxide, methane and 5 other main gases that cause the greenhouse gas effect. Carbon dioxide is by far the most prevalent GhG in the world. GhG emissions come from fossil fuels combustion in our vehicles, heating our homes and buildings with natural gas or oil, forests burning, waste decomposing, deforestation, and many other activities.

Greenhouse gas effect:  Like a greenhouse, i.e., greenhouse gases in our atmosphere let in the sun’s heat but trap some of this heat from escaping back out. The problem is that increasing GHGs are trapping too much of the sun’s heat –causing global warming. This is the greenhouse gas effect. [insert image/graphic?]

Emissions: The is the short-form way of referring to greenhouse gas emissions / GhGs.

Greenhouse gas mitigation:  Mitigation refers to GhG reductions. Any way you reduce your GhG emissions is mitigation.

Low-carbon: Equipment or processes that generate very few greenhouse gas emissions. E.g., a hybrid vehicle generates fewer greenhouse gas emissions than a conventional car or truck that runs on gasoline or diesel.

Methane:  The second most common greenhouse gas in the world. Agricultural activities, livestock, burning fields and forests, and even the production of fossil fuels, generate methane emissions. It is one of the 7 main GhGs reported when you measure your emissions.

Mitigation: See Greenhouse gas mitigation –above. Mitigation refers to GhG reductions. Any way you reduce your GhG emissions is mitigation.

Net zero—or Net zero carbon:  Reducing GhG emissions and investing in solutions that bring the balance of your emissions to net zero. Once reductions have come as close to zero as possible, remaining solutions  may include carbon sequestration through forests or other nature-based solutions, and/or technologies that sequester (or trap) GHG emissions. Many businesses (and governments) are setting time-bound targets for net zero. E.g., Vancity is committed to Net Zero by 2040.

Renewable energy: Solar, wind, biofuels, and other sources of useful energy that is collected from renewable resources, which are naturally replenished on a human timescale. This type of energy source stands in contrast to fossil fuels (natural gas, oil, diesel, and gasoline); fossil fuels are the number one source of greenhouse gas emissions in Canada.

Sustainability: Balancing our business and economic needs with the wellbeing of people (society) and our planet (environment), so that we can support and sustain wellbeing for generations to come.

Tonnes of CO2e:  Your greenhouse gas emissions are usually calculated in tonnes. Smaller businesses may report kilograms (kg) of C02e (carbon dioxide equipment).