Climate Contract Playbook Edition 3
15
ESG : Environmental, Social and Governance factors and standards forming a [published] policy or objective of a party. Greenhouse Gas means gases that contribute to or accelerate the greenhouse effect by absorbing infrared radiation, including but not limited to: carbon dioxide, methane, nitrous oxide, sulphur hexafluoride, hydrofluorocarbons, perfluorocarbons and chlorofluorocarbons. Net Zero means that the balance between Greenhouse Gas emissions from all operations and Greenhouse Gas removals, including those accounted for by credits from either insetting or offsetting projects, is zero.
[Insert new Clause (or add to or adapt existing purpose clause)]
2.
The Purposes
2.1
The parties shall, as part of their discussions and negotiations concerning the Commercial Purpose, discuss and consider how the Climate Change Purpose can be achieved as part of any future commercial relationship arising from those discussions and negotiations. When considering the Climate Change Purpose under clause 2.1 the parties shall disclose and consider: (a) their respective Net Zero targets; and (b) their relevant ESG characteristics and commitments. Any information disclosed by one party to the other in connection with the Climate Change Purpose shall be treated as the disclosing party’s Confidential Information (and therefore subject to the applicable use and disclosure restrictions in this agreement), save that such information may be used by the recipient (but not disclosed to any third party) to make progress against its Net Zero target or ESG goals.
2.2
2.3
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