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D-H
Diversity
A range of visible and non-visible differences that exist between people. Managing diversity harnesses these differences and can create a productive environment in which everybody feels valued, where talents are fully utilised and in which organisational goals are met (www.britishcouncil.org). To find out more, read our CSR expert view on diversity.
Dow Jones Sustainability Index (DJSI)
Index of the top 10% of the leading sustainability companies in each of DJSI industry groups. Companies are ranked according to their management of sustainability opportunities and risks to provide information for investors.
Eco-efficiency
Involves the delivery of competitively-priced goods and services that satisfy human needs and bring quality of life, while progressively reducing ecological impacts and resource intensity throughout the life cycle, to a level at least in line with the Earth's estimated carrying capacity.
Ecological footprints
The 'ecological footprint' is an aggregate measure of human impact which measures the amount of nature we use. It shows how much productive land and water an individual, a business, a city, or a country occupies to produce all the resources it consumes and to take in all the waste it makes. This area can then be compared to the existing space on the planet that is biologically productive.
Economic Impact Assessment
A methodology that estimates the real social and economic returns of companies’ CR investments. It highlights where funds are being wasted or producing low yields. It indicates the current sustainability of the investment and how this can be improved, showing how returns on investment can be enhanced, both directly and indirectly. Most importantly, it establishes monitoring protocols so that companies can more easily measure the benefits year after year and report these to their stakeholders with confidence. See "Assessing the economic impacts of investment".
Embeddedness
The incorporation of accounting, accountability and responsibility processes, consultation and audit findings with the strategic managerial practice and policy and operational levels of the organisation.
Emissions
Substances discharged into the air (as by a smokestack or an automobile gasoline engine).
Enlightened shareholder value
Approach which asserts that "long-termism and regard for other stakeholders can be achieved within current principles by ensuring that directors pursue shareholders' interests in an enlightened and inclusive way". (source: UKSIF Briefing: Modern Company Law for a Competitive Economy).
Employee engagement
The intentional interaction between employee and employer which promotes an amalgamation of commitment, loyalty, productivity and ownership from both sides. Its objective is to generate an employee culture whereby the increase in productivity comes from a sense of ownership and pride. Purchase our latest research on employee engagement.
Entrepreneur
An individual who owns a company, enterprise, or venture; they assume accountability for the inherent risks and consequences. Essentially they assume the risks involved to undertake a business venture.
Environmental impact assessment (EIA)
The EIA procedure ensures that environmental consequences of projects are identified and assessed before authorisation is given. The public can give its opinion and all results are taken into account in the authorisation procedure of the project. The public is informed of the decision afterwards.
Environmental justice
In the same way that certain social groups or communities may be economically disadvantaged, so they may suffer disproportionate health, safety or environmental problems. Linked issues can surface around various types of industrial facility, from oil fields and chemical production complexes to major airports.
Environmental management system (EMS) standards
The main international EMS standard is ISO 14001. There are other emerging regional EMS systems, notably the European Union's Eco-Management and Audit Scheme (EMAS).
Ethical Investment
Ethical or socially responsible investment are terms to describe any area of the financial sector where the principles of the investor influence which organisation or venture they choose to place their money with, or how the investor uses their power as a shareholder. (source: www.eiris.com).
Ethical Trade
Fully commercial trade undertaken on terms which include compliance with non exclusively financial or technical specifications e.g. labour standards, buyer behaviour etc.
Ethics
The science of morals in human conduct; moral philosophy; moral principles; rules of conduct. See Article 13's statement of values and ethics.
European Emissions Trading Scheme
Emissions trading is emerging as a key instrument in the drive to reduce greenhouse gas emissions. The rationale behind emission trading is to ensure that the emission reductions take place where the cost of the reduction is lowest thus lowering the overall costs of combating climate change. The EU ETS is one of the policies being introduced across Europe to tackle emissions of carbon dioxide and other greenhouse gases and combat the serious threat of climate change. The scheme commenced on 1 January 2005. The first phase runs from 2005-2007 and the second phase will run from 2008-2012 to coincide with the first Kyoto Commitment Period. Further 5-year periods are expected subsequently. The scheme will work on a 'Cap and Trade' basis. EU Member State governments are required to set an emission cap for all installations covered by the scheme. Each installation will then be allocated allowances for the particular commitment period in question.
Fair trade
Trade undertaken between small, community-based Southern producers and buyers on terms superior to the open market for producers.
Financial audit
Aims to provide reasonable assurance that the financial statements audited by external auditors give a true and fair view, and that they have been prepared in accordance with the relevant accounting and other requirements.
FTSE4Good
Series of benchmark and tradable indices facilitating investment in companies with good records of Corporate Social Responsibility. Assesses businesses on three areas: working towards environmental sustainability, developing positive relationships with stakeholders and upholding and supporting universal human rights.
Full-cost accounting (FCA)
Although this is an area in need of much further work, the Holy Grail is to develop accounting methods which account for all the key costs of a project or activity, not just the financial costs.
Gene technology
A branch of modern technology. Range of techniques used by scientists in an attempt to control or modify genes, or transfer them between two unrelated species.
Global Reporting Initiative (GRI)
The GRI is a multi-stakeholder process and independent institution whose mission is "to develop and disseminate globally applicable Sustainable Reporting Guidelines". These guidelines are for voluntary use by organisations for reporting on the economic, environmental and social dimensions of their activities, products and services. Read our briefing paper, available on this website, to find out more about GRI3.
Green tech
Existing and emerging innovations with the objective of minimising detrimental impacts on the environment. Alternative technologies that seek to address issues around water, carbon, energy, natural resource management, climate change, emissions and others.
Governance
Processes and systems of a specific management or leadership system. It involves the relationships, power, functions and accountability of an organisational structure. In the case of a business or of a non-profit organisation, governance relates to consistent management, cohesive policies, processes and decision-rights for a given area of responsibility.
Higgs' report
The Higgs' report on corporate governance was recently released in the UK. It will feed into a new Combined Code of Practice for British companies, and will have far-reaching consequences for corporate UK, especially in the area of non-executive directors. To find out more, read our briefing paper on codes and reports on corporate governance.
Human rights
A civilised society recognises the right of every individual to liberty, freedom of association and personal safety. These form the basis of a code of human rights found at the core of national and international law across the globe. To find out more, read our CSR expert view on IT and CSR.
(Source: Article 13 sources and World Business Council on Sustainable Development).
© Article 13
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