Global Standard Glossary

The difference between average Living Wage and Average Wages Paid to
Workers in a Certified Entity.

The Waste Hierarchy is the priority order of waste management options established in Article 4 of the EU Waste Framework Directive (Directive 2008/98/EC). It ranks waste prevention and management strategies from the most to the least environmentally preferred, with the aim of reducing overall environmental impact and promoting resource efficiency.

A subsidiary company is considered wholly owned when all of the common stock is owned by another company, the parent company. With a wholly owned subsidiary, the company's stock is not traded publicly. It remains an independent legal body, a corporation with its own organized framework and administration. Its day-to-day operations are likely directed entirely by the parent company, however.

Any individual engaged in work who is not a senior manager or owner.