The Chancery Lane Project

The Problem
Climate change is creating one of the greatest fundamental inequities of our time. Low-income communities across the globe contribute less than 1% of carbon emissions yet bear the greatest brunt of extreme weather events and other catastrophes related to climate change. Recognizing that climate change is costly to many businesses, more and more companies are committing to reducing their carbon emissions, but are not equipped with the tools to take action. As a result, many companies have guidelines for climate and net zero pledges, and an entire industry of carbon trading and credits has arisen. However, no enforcement mechanisms are in place to hold key players accountable for their climate-friendly commitments. The private sector as a whole lacks a climate solution that can be embedded in business transactions and commercial law.

The Solution
The Chancery Lane Project (TCLP) uses the power of contracts — an existing, massive system that underpins the global economy — to tackle climate change, immediately turning net zero targets into actionable agreements to limit greenhouse gas emissions. TCLP mobilizes top law firms across the globe to create and embed climate clauses into contract law to help mitigate carbon emissions at their source and accelerate net zero carbon outcomes amongst those most responsible for climate change. TCLP has written 142 climate clauses, glossary terms, and tools for users to reference when creating or editing climate-friendly contracts. The clauses are freely available to incorporate into commercial agreements and legal documents. Each resource has been written and peer-reviewed by sector and legal specialists to provide high-quality, commercially viable climate solutions. Through track and trace systems, TCLP will monitor the use of clauses and the ensuing impact on emission reductions.

By the end of the 2020s:

• Climate responsibility will have been assigned in commercial contracts across high-polluting sectors, resulting in a reduction of corporations’ carbon emissions throughout their supply chains.
• Participants will be sufficiently proactive in promoting TCLP that the scaling of the organization’s impact will be decoupled from their organizational growth, and that use of contracting principles will be cascading through their priority sectors.
• Sufficient infrastructure that is independent of and complementary to TCLP’s core work (education, standards, etc.) will have been developed to enable TCLP to reach its full potential.