# Global Standard Glossary

- [All](https://global-standards.org/resources/glossary)
- [A](https://global-standards.org/resources/glossary/A)
- [B](https://global-standards.org/resources/glossary/B)
- [C](https://global-standards.org/resources/glossary/C)
- [D](https://global-standards.org/resources/glossary/D)
- [E](https://global-standards.org/resources/glossary/E)
- [F](https://global-standards.org/resources/glossary/F)
- [G](https://global-standards.org/resources/glossary/G)
- [H](https://global-standards.org/resources/glossary/H)
- [I](https://global-standards.org/resources/glossary/I)
- [J](https://global-standards.org/resources/glossary/J)
- [K](https://global-standards.org/resources/glossary/K)
- [L](https://global-standards.org/resources/glossary/L)
- [M](https://global-standards.org/resources/glossary/M)
- [N](https://global-standards.org/resources/glossary/N)
- [O](https://global-standards.org/resources/glossary/O)
- [P](https://global-standards.org/resources/glossary/P)
- [Q](https://global-standards.org/resources/glossary/Q)
- [R](https://global-standards.org/resources/glossary/R)
- [S](https://global-standards.org/resources/glossary/S)
- [T](https://global-standards.org/resources/glossary/T)
- [U](https://global-standards.org/resources/glossary/U)
- [V](https://global-standards.org/resources/glossary/V)
- W
- [X](https://global-standards.org/resources/glossary/X)
- [Y](https://global-standards.org/resources/glossary/Y)
- [Z](https://global-standards.org/resources/glossary/Z)

 | Term | Definition |
|---|---|
| [ Wage Gap](https://global-standards.org/resources/glossary/wage-gap) | The difference between average Living Wage and Average Wages Paid to    Workers in a Certified Entity. |
| [ Waste Hierarchy](https://global-standards.org/resources/glossary/waste-hierarchy) | 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. |
| [ Wholly Owned Subsidiary](https://global-standards.org/resources/glossary/wholly-owned-subsidiary) | 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. |
| [ Worker](https://global-standards.org/resources/glossary/worker) | Any individual engaged in work who is not a senior manager or owner. |