Climate Contract Playbook Edition 3
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f) [the purchase by the Company of electricity for its offices [and factory] on a green tariff that uses 100% renewable energy;] g) [the use by the Company of web hosts and cloud service providers which run their servers on 100% renewable energy or have their own Carbon Neutral target date;] h) [reviewing and updating supplier terms of engagement to procure goods and services from companies that have Net Zero Targets or other relevant climate targets] [sourcing all consumables used by the Company from sustainable and ethical sources;] i) [implementing zero waste and circular economy practices and principles in existing operations and design of new products and services;] j) [creating KPIs to measure the Company’s impact of its operations [; and] [.] k) [others as applicable]. BUSINESS OF THE COMPANY 1.1 The parties will each act in good faith to promote the best interests of the Company and ensure that its business is conducted and developed in accordance with good business practice and any business plan for the Company that is adopted from time to time in furtherance of (in equal emphasis): (i) the Business Purpose; and (ii) the Sustainability Goals. COMPANY SUSTAINABILITY GOALS 2.1 Within [30] Business Days from the date of execution of this Agreement the Board shall meet and resolve to: (i) adopt the Company’s Sustainability Goals; (ii) adopt a framework sustainability management standard by reference to [INSERT SPECIFIC STANDARD] (the Sustainability Management Standard ); and Additional Clauses 1. 2. (iii) appoint a member of the Board to be the Company’s Chief Sustainability Officer ( CSO ). Within [14] Business Days following the date of such meeting the Board shall provide a copy of meeting minutes to the [Shareholder] [Lender] [Guarantor] detailing the adopted Sustainability Goals along with a copy of the Company’s Sustainability Management Standard. 2.2 The impact of the Company’s Sustainability Goals shall be reviewed and evaluated by the Board on a quarterly basis (a Sustainability Review Meeting ), and such evaluation shall include the following: a) the Company’s progress in achieving its current Sustainability Goals;
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