Search our glossary for commonly used sustainability and ESG concepts, terms and definitions.
There are currently 14 entries in this directory beginning with the letter N.
N
Nationally Determined Contributions (NDCs)
Under the Paris Agreement each country is required to set and submit nationally determined contributions (NDCs) every five years (increasing in ambition each cycle), stating how they plan to limit global warming and how they plan to adapt to the impact of rising temperatures.
Natural Capital
Natural capital is "An extension of the economic notion of capital (manufactured means of production) to environmental goods and services. A functional definition of capital in general is: "a stock that yields a flow of valuable goods or services into the future". Natural capital is thus the stock of natural ecosystems that yields a flow of valuable ecosystem goods or services into the future. For example, a stock of trees or fish provides a flow of new trees or fish, a flow which can be sustainable indefinitely. Natural capital may also provide services like recycling wastes or water catchment and erosion control. Since the flow of services from ecosystems requires that they function as whole systems, the structure and diversity of the system are important components of natural capital."
Source: Robert Constanza, University of Vermont, available in Dictionary of Energy; Constanza et al, 1997
Source: Robert Constanza, University of Vermont, available in Dictionary of Energy; Constanza et al, 1997
Negative Emissions Technology (NET)
Technologies or processes that remove carbon dioxide and other greenhouse gases from the atmosphere.
Neoliberalism
The policy of supporting a large amount of freedom for markets, with little government
control or spending, and low taxes (Cambridge Dictionary 2022b)
control or spending, and low taxes (Cambridge Dictionary 2022b)
Net Zero
Greenhouse gases trap heat in the atmosphere and are crucial for regulating Earth’s temperature and enabling life. When balanced, the amount of carbon released into the atmosphere should equal that absorbed by Earth’s reservoirs or sinks (e.g. atmosphere, sea, land, flora & fauna). This is known as the Global Carbon Budget.
When the amount of CO2 emitted equals the amount of CO2 absorbed the result is Net Zero or carbon neutrality, i.e. we stay within budget.
Whilst globally we need to achieve net zero emissions by 2050 to limit global warming to well below 2.0°C and within 1.5°C, in line with Paris Agreement objectives, enterprises are also being encouraged to set net zero targets as national targets can only be met if everyone contributes and plays their part.
Enterprises can achieve net zero emissions by significantly reducing the amount of CO2 they emit and offsetting any residual emissions that cannot be avoided. Reducing CO2 means switching to an energy provider that uses renewable sources of energy such as solar or wind to produce electricity rather than coal, oil or gas. It means switching to electric vehicles, reducing or eliminating enterprise travel, reducing employee commutes and/or encouraging employees to walk, cycle or use public transport. It involves making buildings more energy efficient so they lose less heat and it involves assessing and adjusting all enterprise processes, products and services from the cradle to the grave to determine whether anything can be changed to reduce the amount of water used and the amount of waste produced, with a primary focus on CO2.
Sources: Friedlingston et al 2021, Global Carbon Project 2021
When the amount of CO2 emitted equals the amount of CO2 absorbed the result is Net Zero or carbon neutrality, i.e. we stay within budget.
Whilst globally we need to achieve net zero emissions by 2050 to limit global warming to well below 2.0°C and within 1.5°C, in line with Paris Agreement objectives, enterprises are also being encouraged to set net zero targets as national targets can only be met if everyone contributes and plays their part.
Enterprises can achieve net zero emissions by significantly reducing the amount of CO2 they emit and offsetting any residual emissions that cannot be avoided. Reducing CO2 means switching to an energy provider that uses renewable sources of energy such as solar or wind to produce electricity rather than coal, oil or gas. It means switching to electric vehicles, reducing or eliminating enterprise travel, reducing employee commutes and/or encouraging employees to walk, cycle or use public transport. It involves making buildings more energy efficient so they lose less heat and it involves assessing and adjusting all enterprise processes, products and services from the cradle to the grave to determine whether anything can be changed to reduce the amount of water used and the amount of waste produced, with a primary focus on CO2.
Sources: Friedlingston et al 2021, Global Carbon Project 2021