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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.
This website (and the Climate Contract Playbook) do not comprise, constitute or provide personal, specific or individual recommendations or advice of any kind, and do not contain legal or financial advice. The definitions are precedents for legal professionals to use, amend and negotiate using their professional skill and judgement and at their own risk.
While care has been taken in the drafting of these definitions, neither The Chancery Lane Project nor any of its contributors owe a duty of care to any party in relation to their preparation and do not accept any liability for any errors or omissions, nor for any loss incurred by any person relying on or using these definitions or any other person. Users should use their own professional judgement in the application of these definitions to any particular circumstance or jurisdiction or seek independent legal advice.
At present, all the definitions are based on the laws of England and Wales. We encourage the conversion of these precedent definitions for use in other jurisdictions.
Science Based Target means [an organisation/a project] target to reduce GHG Emissions aligned with the latest climate science on the scale and pace of action needed to limit the global temperature increase to 1.5°C above pre-industrial levels.
Science Based Target means [the Company]’s target to reduce its GHG Emissions as validated by the [Science Based Targets initiative (SBTi)].
The concept of Science Based Targets is based on the Science Based Targets Initiative (SBTi) Corporate Net-Zero Standard. Science-Based Targets count only the reduction of greenhouse gas (GHG) emissions. Measures that remove, avoid or offset greenhouse gas emissions will not be included. In contrast, Net Zero Targets count reductions, removals, avoided and offset GHG emissions.
The purpose of a Science Based Target is to ensure that the relevant organisation’s target is aligned with current climate science and will contribute to a transformational global shift to net zero.
For more information on the Paris Agreement goals, see the drafting notes in Paris Agreement Goals.
Drafters may want to consider using other organisations that validate science-based targets.
Supply chain clauses, project finance documents (e.g. loan, guarantee and recourse agreements, engineering, procurement and construction contracts), policy documents and national climate laws.
Science Based Target is used in the following TCLP clauses:
[Gordon’s DDQ] Capital Markets ESG Due Diligence Questionnaire; and
[Raphael’s Procurement DDQ] Climate Change Due Diligence Questionnaire for Suppliers.