Parametric insurance

A type of insurance contract that insures a policyholder against the occurrence of a specific event by paying a set amount based on the magnitude of the event, as opposed to the magnitude of the losses in a traditional indemnity policy.

Pari Passu

Situations where two or more assets, creditors, securities, or obligations are managed equally, without preference.

Paris Agreement

An international accord that aims to limit the rise in global average temperatures to below 2 degrees Celsius above pre-industrial levels by the end of this century, and to pursue efforts to limit it to 1.5 degrees.

Paris-aligned benchmarks

Paris-aligned benchmarks are indices whose constituent companies are aligned with the Paris Agreement, which sees to limit the rise in global temperatures to well below 2°C above pre-industrial levels, and to pursue efforts to keep the rise to 1.5°C.

Partial Test Ban Treaty, 1963

See: Treaty banning nuclear weapon tests in the atmosphere, in outer space and under water, 1963.

Participatory governance

See Governance

Particulate Matter (PM)

Very small pieces of solid or liquid matter such as particles of soot, dust, fumes, mists or aerosols.

Parties to the Nauru Agreement

Community of South Pacific nations who control the world’s largest sustainable tuna purse seine fishery.

Parts per billion (ppb)

Number of parts of a chemical found in one billion parts of a particular gas, liquid or solid mixture.

Parts per million (ppm)

Number of parts of a chemical found in one million parts of a particular gas, liquid or solid mixture.


See: Principal Adverse Impact indicator (PASI).


The temporal evolution of natural and/or human systems towards a future state.

Patient capital

Investment that has a long-term timeframe.

Pay for performance

A term used to describe the relationship between executive compensation and corporate performance over a specified measurement period.

Peace Parks Foundation

An international NGO with a vision to create a future for man in harmony with nature through the reconnection of Africa’s wild spaces.

Peer group

A group of companies that are similar in industry, size, complexity and/or geography.

People of colour (POC)

A phrase commonly used especially in the United States to describe people who are not white-skinned and intended to be inclusive of all non-white groups, especially African Americans, with emphasis on common experiences of racism.

People-First Language (PFL)

Language puts a person before a diagnosis or way of being. It describes what a person “has” rather than saying what a person “is”. (e.g., “person with a disability” vs. “disabled”)

Perfluorocarbons (PFCs)

A group of chemicals composed of carbon and fluorine only.

Performance Standards on Environmental and Social Sustainability

International benchmarks for use by financial institutions when assessing a project or company’s social and environmental risks.

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