Terms You Need to Know [September 2021]

Green Steel: In our July edition we mentioned Green Hydrogen, which refers to environmentally friendly fuel for systems too large to run on electricity. As steel production emits large quantities of greenhouse gases, the term Green Steel represents low-carbon options for producing the metal. We note it here as a way to urge crisis pros to put sustainability on their radar, if it’s not already.

 

Information Aversion: Sometimes called ‘The Ostrich Effect,’ information aversion is an economics and finance term describing people who prefer avoiding news that has the potential to be bad. As a result, they lead blind, uninformed lives. Similarly, some companies bury their heads in the sand on crisis, preferring to ignore the possibility that one could strike them and that preparation for such an event is vital.

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