Category: Glossary

TCFD

Task Force on Climate-related Financial Disclosures (TCFD)

At the COP21 Paris Climate Change Conference in 2015, the Financial Stability Board (FSB) established an industry-led disclosure task force on climate-related financial risks under the chairmanship of Michael Bloomberg – the Task Force on Climate-related Financial Disclosures (TCFD). Since the establishment, the TCFD developed recommendations on climate-related financial disclosures in 2017 to help businesses disclose clear, comparable and consistent information about the risks and opportunities presented by climate change as well as promote and monitor adoption of its recommendations.

Climate Lens

The Climate Lens Assessment is a guidance document for infrastructure projects required by several of the Infrastructure Canada Plan Programs to motivate proponents to consider the impacts of climate change in the design and implementation phases.
Climate Lens Guide

LCA -Life Cycle Assessment

Life Cycle Assessment (LCA)
LCA is the systematic analysis of the environmental impact of fuels, products, structures and activities over their entire life cycle. A life cycle is comprised of production/construction, use/ operational, removal and disposal phases. Environmental impacts are evaluated comprehensively  including the evaluation of upstream and downstream processes associated with the production (e.g. production of raw, auxiliary and operating materials) and with the disposal (e.g. waste treatment). Environmental impacts refer to all relevant extractions / removals from the environment (e.g. ores and crude oil), as well as discharges and emissions into the same (e.g. wastes and carbon dioxide) during the entire life cycle.

ISO 14080 (In development)

The future ISO 14080 (Greenhouse gases management and related activities — Framework and principles for methodologies on climate actions), which is currently under development, will give organizations involved in climate action a framework for the development of consistent, comparable and improved methodologies that provide guidance for effective mitigation and adaptation activities, and also improve access to, and availability of, climate finance and other resources.

ISAE 3410

ISAE 3410 – International Standard on Assurance Engagements 3410 Assurance Engagements on Greenhouse Gas Statements
This International Standard on Assurance Engagements (ISAE) deals with assurance engagements (limited or reasonable) to report on an organisation’s Greenhouse gas (GHG) statement. In cases were organisations are quantifying their GHG emissions for the purpose of regulatory compliance or on a voluntary basis they might look for an independent assurance that their statement in all material respects has been prepared in accordance with the applicable criteria . Voluntary disclosures may be published as a stand-alone document, included as part of a broader sustainability report or in an entity’s annual report.

Regulatory Additionality

Regulatory additionality is a quality requirement for an emission reduction to be recognized as such.

In order for an emission reduction to be recognized, a project proponent must provide evidence that the project activities and all equipment and substances involved in the achievement of the emission reduction are beyond what is required based on applicable regulatory requirements. Only those emission reductions that are achieved beyond regulatory requirements are considered additional and therefore meet the regulatory additionality requirement test. Reductions that only meet the regulatory required levels are not considered to be real emission reductions.


	


	





	

		
		
ISO 14021
	


	
	
	

		


ISO 14021 is the acronym used to refer to an ISO Standard specifying the requirements for environmental labels and declarations defined as “Self-declared environmental claims”. This standard provides guidance on the terminology, symbols, testing and verification methodologies that an organization should use for self-declaration of the environmental aspects of its products and services.