I am following Peskin and Schroeder chap 13.3 on the 2D NLSM. At page 459, eq (13.95), we have to consider the correlator $$\langle\partial^\mu\phi_a(0) \partial_\mu \phi_b(0)\rangle.\tag{13.95}$$ Because of the renormalisation scheme, this correlator is to be computed for a free theory. This gives us the contribution (it is just a loop in the vacuum) up to some constant which are not relevant for this discussion:
$$ \int_{\Lambda'<k<\Lambda}d^2k\frac{1}{k^2}k^2\propto (\Lambda^2-\Lambda'^2) $$
Where the $\frac{1}{k^2}$ comes from the propagator and the $k^2$ factor from the derivatives $\partial^\mu\partial_\mu$. Now, in the renormalisation we say that we ditch this term, compared to the $\langle\phi_a\phi_b\rangle \propto \log(\frac{\Lambda}{\Lambda'})$ contribution. I am not sure why is that so. My guess is that because, after many renormalisation steps, since the contribution is $\propto \Lambda^2$ it is going to be negligible in the IR, compared to the contribution in $\ln(\Lambda)$ which is actually going to grow. I am really not convinced by that explanation however.
In the Peskin and Schroeder it is somehow justified at (13.83), but I am not sure of what he means in the explanation and how the dependence in the IR cutoff is important. (Note that in this part he does the renormalisation in another way)
I am really not sure this is a valid justification, could you confirm if this is a sensible reasoning, or is there something else at play?
Note that this derivation is made also in the paper https://doi.org/10.1016/0370-2693(75)90161-6