SGMA 217 Chapter 17

ESG (environmental, social, and governance)

A framework that helps stakeholders understand how an organization is managing risks and opportunities related to environmental, social, and governance factors.

sustainability

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

sustainable business

A business that creates value for all of its stakeholders while minimizing negative impacts on the environment and society.

linear economy

A traditional economy that follows the 'take, make, waste' model of production, where raw materials are extracted and transformed into products that are used until they are eventually discarded as waste.

circular economy

An economic system aimed at eliminating waste and pollution, keeping products and materials in use for longer, and regenerating natural systems.

cradle-to-grave

A linear design and production approach that considers only impacts from production of the product up until the product's disposal.

cradle-to-cradle

A circular design and production approach that emphasizes recycling, renewing, and reusing products with a goal of zero waste.

biological cycle

A cycle in which all materials, or 'nutrients,' can be absorbed back into nature, such as food and natural fibres.

technical cycle

A cycle in which all non-toxic and human-made materials (e.g., metals, oil-based plastics, chemicals) can be reused, repaired, or transformed without losing their quality.

upcycling

The transformation of waste into materials or products of higher quality.

biomimicry

Learning from and then emulating nature's forms, processes, and ecosystems to create more sustainable designs and solve business challenges.

life cycle assessment (LCA)

A tool used to assess the potential environmental and societal impacts of a product or process over the product's entire life cycle.

Supply chain sustainability

Consideration for the environmental, social, and economic impacts of a product's journey through the supply chain, from raw materials sourcing to production, storage, delivery, and every transportation link in between.

Product stewardship

The act of minimizing the human health, safety, environmental, and social impacts of a product and its packaging throughout all stages of the product life cycle; a responsibility shared by all actors in the supply chain.

extended producer responsibility (EPR)

An environmental policy approach that places physical and/or financial responsibility for the life cycle of the product, including the post-consumer stage, on the producer.

Green marketing

The process of developing and promoting environmentally friendly goods and services.

greenwashing

The act of providing inaccurate information or exaggerated claims about a good or service to mislead consumers into believing it is sustainable.

life cycle assessment stages

The four stages of a life cycle assessment are goal definition and scoping, inventory analysis, impact assessment, and interpretation.

circular economy principles

Three main principles of a circular economy include designing out waste and pollution, keeping products and materials in use for longer, and regenerating natural systems.

cradle-to-cradle goal

The ultimate goal of cradle-to-cradle is to eliminate waste altogether.

biomimicry application

Many businesses are turning to nature for inspiration for sustainable designs and attempting to emulate nature's forms, processes, and ecosystems to solve human challenges.

supply chain sustainability challenges

While there are many benefits to sustainable supply chain management, businesses are challenged in terms of cost and supplier visibility.