Climate Contract Playbook Edition 3
148
Climate Change means a change in the state of the climate that can be identified and that persists for [an extended period of time/decades] and where the change is caused directly or indirectly by (i) human activity that alters the composition of the global atmosphere or (ii) natural processes, including volcanic eruptions and changes of solar cycles.
Additional Clause This Policy does not cover liability in respect of any actual or potential effects of Climate Change, including liability in respect of an actual or alleged failure by the Insured to reduce or limit GHG Emissions in line with emissions-reductions targets. This Policy does not cover any Claims [defence costs or any other costs, fees or expenses] of any kind whatsoever directly or indirectly relating to, arising out of or in consequence of: (1) GHG Emissions by the Insured or for which the Insured is responsible. (2) Any actual or alleged failure to reduce or limit GHG in line with emissions-reductions targets.
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