As the UN Climate Change Conference (COP26) draws to a close later this week, the race to zero emissions is gaining momentum with many corporates signing up and making 'net zero pledges'.
The Chancery Lane Project (TCLP) is a collaborative effort of lawyers from around the world whose vision is a world where every contract enables solutions to climate change. They create practical, contractual clauses ready to incorporate into law firm precedents and commercial agreements to deliver climate solutions. They then work with lawyers to ensure effective and impactful implementation of the clauses, across industries, practice areas and jurisdictions. The majority of TCLP's content is either premised upon the goal of 'net zero' by 2050, or uses net zero as an organising principle around which the contractual clauses are structured.
To kick off the latest Net Zero Toolkit Workshop Series, TCLP recently held an interactive seminar showcasing their credentials in supporting this net zero target, and encouraging engagement from lawyers on how we can achieve sustainable aims within our firms. It was a really interesting session, with lawyers dialling in from exotic locations such as San Francisco and New Zealand, all sharing useful tips on how they were backing this collective ambition, such as drafting best in class 'green clauses' within their Commercial Real Estate teams.
As business strategies align with net zero aims, the role of climate-conscious contracting cannot be underestimated. The contracts and model laws drafted within the collaborative environment TCLP fosters will create a pathway to, and have a profound impact on, the success of the race to net zero and restructuring of the global economy. Lawyers can lead the way on this, both by drafting the solutions and considering our own climate impact and scope 3 emissions. As part of our sustainability action plan at Forsters, we are working to halve our absolute scope 1, 2 and 3 emissions by 2030, from our 2019 baseline year.
TCLP is running a number of further Net Zero Toolkit Workshops virtually over the coming weeks, for further advice around climate-aligned contractual clauses, and translating a net zero strategy into daily business operations. The following sessions are running over the next few days:
Transactions & Deals (Wednesday 10th Nov) - Net zero intervention points in real estate transactions and diligence
Built Environment (Thursday 11th Nov) - Delivering to net zero in real estate, construction and infrastructure
Corporate Governance (Friday 12th Nov) - Ensuring robust consideration of net zero in corporate decision making
A link to sign up is below:
The COVID-19 crisis triggered a significant uplift in pledges as part of a 'green recovery' by major economies. Economic recovery from the pandemic presents an opportunity for the world to close the gap between existing commitments, and what is required to limit global warming.
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