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GLOSSARY

Net Negative definition

Published by a LexisNexis Commercial expert

What does Net Negative mean?

[is a state where scope 1, 2 and 3 Greenhouse Gases [sequestered OR removed from the atmospher OR absorbed by the [processes OR activities]] [ of [name of party]] are greater than the Scope 1, 2 and 3 Greenhouse Gases emitted[ by [name of party]]. OR is a state where there is a net [sequestration OR removal OR absorption] effect from either production or total lifecycle impact of a product leading to negative Scope 1, 2 and 3 Greenhouse Gas Emissions. OR means that the aggregate of [a party’s OR the company’s] actions to reduce its GHG Emissions and remove them from the atmosphere exceeds its unabated GHG Emissions. OR is a state where the [activity OR technology] absorbs more Scope 1, 2 and 3 Greenhouse Gases from the atmosphere than it emits.] The amount of Scope 1, 2 and 3 Greenhouse Gases [sequestered OR removed from the atmosphere OR absorbed by [the process OR activities]] must be measured using a standardised method of measuring and quantification to be agreed between the parties.

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ESG for dispute resolution lawyers—guidance links

ESG for dispute resolution lawyers—guidance links Environmental, social and governance (ESG) issues permeate many different aspects of a client’s business and activities. Many of these areas will be subject-matter or industry specific, for example, around investment, trade supplies, etc. Any one of them could, in turn, present a litigation risk for the client. It is essential, therefore, that dispute resolution lawyers are aware of the different issues which may affect their clients and on which their colleagues are advising. The content in the subtopic: ESG for dispute resolution lawyers—overview provides guidance specific to dispute resolution lawyers. In addition, our ESG and sustainability toolkit aims to help practitioners advising businesses by providing a holistic overview of the many pervasive ESG issues, as well as providing detailed practical guidance on what all this means for an entity's operations, and connected risks and opportunities. The content includes ESG and sustainability practical guidance in relation to competition, digital transformation, employment, energy efficiency, environment, finance, financial services and asset management, governance, mobility, pensions, reporting and disclosure,...

Discover our 1 Practice Notes on Net Negative

Target product carbon footprint clause—schedule for consumer goods contracts (The Chancery Lane Project)

Target product carbon footprint clause—schedule for consumer goods contracts (The Chancery Lane Project) Additional recitals The parties acknowledge their common intention to fulfil their obligations under this agreement to: (i) achieve their respective climate goals including net zero targets; (ii) align with the ultimate objectives of the Paris Agreement, in particular pursuing efforts to limit global temperature increase to 1.5 degrees Celsius above pre-industrial levels and achieving net zero or net negative emissions by 2050 or sooner, in a manner that promotes a just transition to a low carbon economy and that results in at least a 7% reduction of greenhouse gas emissions year on year; and (iii) minimise their impact on climate change by minimising the greenhouse gas emissions generated through the Provision of the Goods pursuant to this agreement. Additional definitions Actual Product Carbon Footprint • means the Scope 1, Scope 2 and Scope 3 Emissions of GHGs (measured in CO2e) per Unit related, directly or indirectly, to the Provision of the Goods over the...

Sustainability glossary terms (The Chancery Lane Project)

Sustainability glossary terms (The Chancery Lane Project) These Precedent sustainability definitions, produced by The Chancery Lane Project (TCLP) as part of its climate change glossary, provide definitions for key sustainability definitions, such as 1.5°C Aligned, 100% Renewable Energy and Renewable Energy Sources, Abatement Measures, Adverse Climate Outcome (ACO) and Adverse Social Outcome (ASO), Air Quality, Alternative Fuel, Avoided Emissions, Base Year, Beyond Value Chain Mitigation Measures, Biodiversity and Biological Diversity or Biodiversity Loss, Carbon Budget, Carbon Capture, Carbon Capture Storage (CCS) and Carbon Capture Usage and Storage (CCUS), Carbon Dioxide Equivalent (CO2e or CO2eq), Carbon Footprint, Carbon Footprint Standards, Carbon Neutral Carbon Neutral Date, Carbon Price, Carbon Sequestration, Climate Change, Climate Change Adaptation Measures, Climate Change Event, Climate Change Mitigation Measures, Climate Professional, Competency Greenwashing, Completion Net Carbon, Compound Climate Disaster, Conservation Land, Declared Carbon Capacity (of Woodland), Electrification, Embodied Carbon (Embedded Carbon), Emissions Statement, Energy Savings, Environmental Performance, Environmental Work and Climate Sabbatical Work, Epi-Terra Climate Change Event and Pan-Terra Climate Change

Dive into our 5 Precedents related to Net Negative