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The definitions on this website (and published in our Climate Contract Playbook) have been prepared in good faith on a pro bono basis and are free to download and use. The definitions have been drafted and edited by a variety of lawyers and, as such, the approaches to drafting may not conform to any particular drafting norms. We acknowledge this as a consequence of the collaborative drafting process.
The definitions on this website (and published in our Climate Contract Playbook) are provided on an ‘as is’ basis and without any representation or warranty as to accuracy or that the definitions will achieve the relevant climate goal or any other outcome.
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Net Zero Target Plan
(i) includes an Offsetting Strategy;
(iii) links executive remuneration to the achievement of the interim targets; and
(iv) promotes a just transition to a low carbon economy.
When using certain combinations of definitions of Net Zero Target and Net Zero Target Plan both definitions of Offset/Offsetting and Offsetting Strategy may be incorporated, creating duplication and overlap. This can be addressed by combining the definition of Offset(ting) and Offsetting Strategy into one definition of Offsetting Strategy, and amending the reference in Net Zero Target to read “associated with the implementation of an Offsetting Strategy” in place of “associated with Offsets acquired”, as demonstrated in Cassie’s Clause.
Supply chain clauses, national climate laws, green leases, investment agreements and corporate governance documents.
Net Zero Target Plan is used in the following TCLP clauses:
[Cassie’s Clause] Insurance: Disclosure and Mitigation of Pending Climate Change Litigation;
[Emma’s Clause] Green Residential Lease Clauses;
[Owen’s Clause] Net Zero Target Supply Chain Cascade Clauses; and
[Sebastian’s Clause] Entire Business Net Zero Objectives.