The Chancery Lane Project (CLP) is a collaborative of lawyers working pro bono to create the legal conditions needed to achieve net-zero carbon emissions. It aims to do this by creating new contract precedents and model laws to enable communities and businesses to fight climate change. These innovative legal solutions are contained in CLP's Climate Contract Playbook and Green Paper of Model Laws.
This week the CLP has launched the 2nd Edition of its Climate Contract Playbook and Travers Smith is proud to have drafted one of the thirteen new precedents contained therein (Bella's Clause).
George Weavil, Partner in the Private Equity and Financial Sponsors team, who led the drafting work alongside Senior Associate Katie McGarry and Associate Raphaella Gabrasadig, said:
"We are delighted to have produced this precedent, aimed at incentivising management teams of investee companies to hit not only financial targets but also targets which are linked to climate change and environmental issues. This reflects a trend in business towards more socially and environmentally responsible conduct and we are very pleased to be assisting CLP with their efforts to embed these concepts within the business community."
Travers Smith's work with CLP, along with a number of other organisations operating in this area, is part of its expanding pro bono programme which includes "Climate, Environment and Sustainability" as one of its core pillars.
Sam Cottman, Director of Pro Bono, said:
"Climate Change poses a global threat on an unprecedented scale. We have been hugely impressed with how The Chancery Lane Project has mobilised lawyers to address this challenge. When the opportunity to be part of that work arose, we jumped at it.
This contribution to the 2nd Edition of the Climate Contract Playbook is just the start of our journey with CLP. We look forward to contributing on additional projects as our relationship grows."
