Search our glossary for commonly used sustainability and ESG concepts, terms and definitions.
There are currently 9 entries in this directory beginning with the letter M.
M
Materiality
The importance or salience of a sustainability or ESG matter or topic to an enterprise and/or its stakeholders. Materiality can be assessed from two perspectives.
Impact materiality determines importance based on the impact the enterprise has on the environment, people, human rights and the economy .
Financial materiality determines importance based on the impact sustainability or ESG matters or topics have on enterprise development, performance, position and overall value.
Double materiality takes both Impact materiality and Financial materiality assessments into account.
See Also: Impact Materiality, Financial Materiality, Double Materiality
Impact materiality determines importance based on the impact the enterprise has on the environment, people, human rights and the economy .
Financial materiality determines importance based on the impact sustainability or ESG matters or topics have on enterprise development, performance, position and overall value.
Double materiality takes both Impact materiality and Financial materiality assessments into account.
See Also: Impact Materiality, Financial Materiality, Double Materiality
Minimum social safeguards (MSS)
The term minimum social safeguards or MSS is used in the EU Taxonomy Regulation. Compliance with MSS means complying with the OECD Guidelines for Multinational Enterprises (MNEs), the UN Guiding Principles on Business and Human Rights, the nine specifically referenced ILO Core Labour Conventions identified in the International Labour Organization’s declaration on Fundamental Rights and Principles at Work and the International Bill of Human Rights.
Mitigation
The IPCCC define climate change mitigation as “limiting or preventing greenhouse gas emissions and by enhancing activities that remove these gases from the atmosphere”.
At a state level climate change mitigation is managed through things like national transport policies & projects which provide the necessary infrastructure needed to promote the use of renewables-fuelled public transport and electric vehicles, as well as agricultural policies and natural conservation and rehabilitation projects. States can also encourage businesses to contribute to mitigation by providing incentives or grants to make their premises more energy efficient or by setting ESG requirements for anyone wishing to do business with the state. They can also create legislation to ensure state mitigation targets are met.
At an enterprise level, mitigation is any action a business takes to reduce or eliminate their GHG emissions. This means looking at building efficiency (e.g. insulation, behavioural patterns around use of lights, PCs, equipment, etc.), fuel sources, enterprise fleets, any combustion processes, use of GHG emitting chemicals, etc.
Source: IPCC Working Group III Mitigation of Climate Change
At a state level climate change mitigation is managed through things like national transport policies & projects which provide the necessary infrastructure needed to promote the use of renewables-fuelled public transport and electric vehicles, as well as agricultural policies and natural conservation and rehabilitation projects. States can also encourage businesses to contribute to mitigation by providing incentives or grants to make their premises more energy efficient or by setting ESG requirements for anyone wishing to do business with the state. They can also create legislation to ensure state mitigation targets are met.
At an enterprise level, mitigation is any action a business takes to reduce or eliminate their GHG emissions. This means looking at building efficiency (e.g. insulation, behavioural patterns around use of lights, PCs, equipment, etc.), fuel sources, enterprise fleets, any combustion processes, use of GHG emitting chemicals, etc.
Source: IPCC Working Group III Mitigation of Climate Change