Climate Contract Playbook Edition 3
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Definitions 4.1
“ Actual Total Emissions ” means the Total Emissions that were actually emitted over the relevant Emissions Reporting Period, as verified by an Independent Third Party; “ Annual Emissions Report ” means a written report setting out the Actual Total Emissions for the relevant Emissions Reporting Period, and the Projected Total Emissions for the next Emissions Reporting Period; “ Appointed Beneficiary ” means the beneficiary of the Climate Remediation Fee, to be chosen from the Beneficiary List by the Customer and nominated in writing in the relevant Climate Remediation Notice; “ Beneficiary List ” means the [ideal position – a list of reputable NGOs supporting environmental improvement UK and globally managed by reputable independent third party; in the absence of such a list, the parties may wish to choose a shortlist of their preferred charitable partners / NGO beneficiaries]; “ Business Day ” means any day other than a Saturday, Sunday or any other day which is a public holiday in England;
4.2
4.3
4.4
4.5
“ Climate Breach ” means any of the following events: 4.6.1
4.6
in an Annual Emissions Report, the Actual Total Emissions exceed the Projected Total Emissions by more than [Total Emissions per calendar year / per month / per Unit / per Emissions Reporting Period] or [X%][Xt/CO2e]]; [the Supplier fails properly to measure its Total Emissions [in the relevant Emissions Reporting Period]]; [the Supplier’s fails to have its Total Emissions [in respect of the relevant Emissions Reporting Period] verified by an Independent Third Party;] [where the Supplier has agreed to achieve certification under [insert relevant sustainability / climate / carbon industry standard] by a particular date, the Supplier fails to achieve that certification by that date and afterwards maintain that certification during the term of the agreement; or]
4.6.2
4.6.3
4.6.4
4.6.5
[insert failure to achieve other specified climate performance metric];
“ Climate Remediation Fee ” means: 4.7.1
4.7
[an amount equal to [£X] for each [percentage point / Xt/CO2e] that the Actual Total Emissions stated in a given Annual Emissions Report exceed the Projected Total Emissions set out in the previous Annual Emissions Report (or the Initial Emissions Report, in the case of the first Annual Emissions Report); and] in respect of any Climate Breach or breach of any of the warranties set out in clause 3.2, but not covered by another element of the Climate Remediation Fee, [£[X]] [ and an additional sum of £[x] for each [day] that the breach continues [up to a maximum of £[x]];
4.7.2
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