means the net reduction of Greenhouse Gases (GHGs) from all operations to zero by [insert date] so there is a balance between the emissions by sources and removals by sinks of Greenhouse Gases that is consistent with the goals of the agreement'>Paris Agreement, taking into account the need for a just transition.

means a plan[ as agreed by the [Parties]] to deliver the Net Zero Target and to remain Net Negative thereafter that: (a) includes an Offsetting Strategy; (b) sets interim reduction targets for the Parties’ [GHG Emissions OR Scope 1, 2 and 3 Emissions] that are aligned with Paris Agreement goals; (c) links executive remuneration to the achievement of the interim targets; and (d) promotes a just transition to a low carbon economy.

The company's assets less all liabilities; also known as shareholder funds. Can be applied in the context of investment trusts or property companies where shares can trade at a premium/discount relative to the NAV.

The value of an entity’s assets less the value of its liabilities.

The total assets of a company (current assets plus fixed assets) less its current liabilities.

A performance indicator typically calculated as net assets divided by the number of shares in issue. Net assets per share can be raised by means of a share buyback which in turn may increase the market price of the shares. See also earnings per share or EPS.

A principle by which the liability of a party is restricted to only the element of the claim for which they were directly responsible

A clause, generally in a collateral warranty or appointment, which limits the liability of a party to that part of the loss for which that party is specifically responsible. In the absence of these clauses, a party can be liable for 100% of any loss even if others contributed to the same loss.

1 The Consultant’s liability for the Employer’s losses shall be limited to that proportion thereof which it would be just and equitable to require

1 [The Contractor’s liability under this Collateral Warranty shall be limited to that proportion of the direct costs of repair, renewal and/or reinstatement which it

This Practice Note examines net contribution clauses (sometimes known as proportional or proportionate liability clauses) and their inclusion in collateral warranties, third party rights memoranda and consultants’ appointments. It looks at why consultants, some contractors, and their professional indemnity insurers frequently request that a net contribution clause be included in collateral warranties, third party rights memoranda and appointments and why employers are reluctant to accept them. It also considers the ability to claim a contribution from others under the Civil Liability (Contribution) Act 1978 in the absence of a net contribution clause and looks at case law regarding the effectiveness and enforceability of net contribution clauses. For suggested written advice to send to clients on net contribution clauses, see also Precedents: Advice to clients—Net Contribution clauses and Civil Liability (Contribution) Act 1978 clause. What is a net contribution clause? In modern construction projects, there are often numerous parties who are engaged to input into the design. In the event that the design is subsequently found to be defective, this can create difficulties in attributing

Net earnings is one of the most important measures of a company’s performance. It is the company’s profit once all the costs of business and other charges, including debt servicing and taxes, have been paid. Sometimes called net income or the bottom line. When divided by the number of shares in issue to give earnings per share, it is then used to calculate the popular price/earnings, or P/E, ratio for quoted companies.