Observer (Advisory) Directors

Individuals not formally elected to the board who instead participate in board meetings as observers or advisory directors.

Ocean 100

One hundred transnational corporations that collectively extract the majority of revenues from economic use of the world’s ocean.

Ocean Acidification

A reduction in the pH of the ocean over an extended period, typically decades or longer.

Ocean fertilisation

Deliberate increase of nutrient supply to the near-surface ocean in order to enhance biological production through which additional carbon dioxide (CO2) from the atmosphere is sequestered.

Oceans Financing Initiative

An initiative of the Asian Development Bank (ADB) that supports developing member countries to catalyse financing for projects that will help protect and restore marine ecosystems and promote sustainable blue economies.

OECD (Organisation for Economic Co-operation and Development)

An intergovernmental economic organisation with 36 member countries that work together to stimulate economic progress, prosperity and sustainable development.

OECD Guidelines for Multinational Enterprises

Recommendations addressed by governments to multinational enterprises operating in or from adhering countries, providing non-binding principles and standards for responsible business conduct in a global context that are consistent with applicable laws and internationally-recognised standards.

OECD Principles of Corporate Governance

A regularly reviewed set of principles that establish the guidelines on how to create a sound corporate governance system.


See: Carbon Offset.

OPEC (Organisation of Petroleum Exporting Countries)

An intergovernmental organisation consisting of 14 of the world’s major oil-exporting developing countries that coordinates the petroleum policies of its member nations.

Open-loop Recycling

A recycling process in which recycled materials are converted into new raw material that can be used to manufacture similar or different products.

Operational Boundary

The scope of emissions to be included in an emissions inventory.

Operational Risk

The degree to which a company is exposed to disruptions in its operations.

Operational Succession Plan

A plan through which an organisation develops internal candidates who can take over the CEO and other senior roles within the organisation.

Organisational Ambidexterity

The ability of an organisation to both explore and exploit: to compete in mature technologies and markets where efficiency, control, and incremental improvement are prized while competing in new technologies and markets where flexibility, autonomy, and experimentation are needed.

Outgroup bias

When people view those from outside their “group” as less similar and have negative bias against them.

Outside-in perspective

In a sustainability context, asking how business can contribute effectively to solving social and environmental challenges.


The period of time in which warming is increasing past the 1.5°C mark and then cooling back down is called a climate overshoot.

Overshoot pathways

See: Pathways.

Ozone (O3)

Ozone, the triatomic form of oxygen (O3), is a gaseous atmospheric constituent found mostly in the the troposphere.

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