Climate, from ‘net zero’ to ‘greenwashing’: the COP26 terms guide

Cop26 opens today, the 26th meeting of the Conference of the Parties, an annual meeting of the 197 members of the United Nations Framework Convention on Climate Change (acronym in English Unfccc). The event is held at Glasgow’s Scottish Event Campus and will see experts, activists and world leaders discuss how to avoid the worst effects of climate change. Below is an indispensable glossary for understanding all aspects of the Climate Change Conference. Carbon Border Adjustment Mechanism It is a duty on climate-altering emissions proposed by the European Commission, designed to defend European industry during the ecological transition and which applies to some products (iron, aluminum, cement and fertilizers ) imported from countries outside the European Union where the very strict EU climate objectives are not adopted. The Commission’s proposal must now follow the EU legislative process. Carbon capture and storage This consists of the injection into deep geological formations or depleted hydrocarbon deposits of liquid CO2 obtained from capture in the emission stacks of fossil fuel power plants and other large industrial plants. The CO2 sequestration and storage activity (CCS) is considered strategic within the European energy policy as it would allow, according to preliminary estimates, a 20% reduction in greenhouse gas emissions by 2020. Carbon credits (Carbon credits ) They are negotiable certificates, or securities equivalent to a ton of Co2, which companies ‘exchange’ to be able to emit greenhouse gases through the implementation of environmental protection projects. Carbon footprint This is the unit of measurement used to estimate greenhouse gas emissions from products, services, organizations, events and individuals. Generally it is expressed in tons of Co2. Carbon neutrality (Carbon neutral) It consists in achieving a balance between emissions and carbon absorption by completely eliminating these emissions during production processes, or by compensating them through the so-called ‘carbon sinks’, deposits of Co2, such as forests, soil and oceans. The expression is used to refer to a product, a service, a process or an organization, when they are in a zero-impact climate situation. Climate positive It is a goal that goes beyond the ‘net zero’ and that is achieved by a company when the amount of carbon emissions that is removed from the atmosphere exceeds the amount produced. Ecotax (ecotax) Abbreviation for ecological tax, refers to a tax levied on activities harmful to the environment. It is designed to promote more environmentally friendly actions by businesses or individuals. Greenwashing Commonly used in marketing, it is a method by which a company attempts to draw attention to its sustainable actions to distract from its most environmentally destructive practices. Kyoto Protocol Signed in 1997, it is an international treaty that commits all parties to reduce global greenhouse gas emissions. It was the first to set legally binding emission reduction targets for individual countries and entered into force in 2005. It was replaced by the Paris Agreement in 2015. Net zero (Net zero) Net zero refers to the point where the amount of carbon emitted into the atmosphere is equal to the amount of carbon removed. Paris Agreement It is a legally binding international treaty that was agreed at the last COP conference in 2015. The Paris Agreement set important goals to limit global warming to below two degrees Celsius, preferably to 1.5 degrees, compared to pre-industrial levels (what exactly these levels are is not specified in the agreement and is still the subject of scientific debate). 1,5 degrees It is the limit to the increase of the average temperature on Earth, compared to pre-industrial levels, sanctioned by the Paris Agreement and agreed by world leaders. Expert projections suggest that a rise in temperature above this amount would lead to the spread of some of the worst effects of climate change, putting billions of people at risk and causing irreversible damage to the environment.