Lloyd's Shipping & Trade Law
Climate clauses in charterparties
Climate clauses are being touted as powerful legal tools for assisting parties to reach their net-zero goals and to minimise the legal and financial risks associated with climate change.
The Chancery Lane Project (TCLP) is leading the way in developing a contractual framework for implementing decarbonisation
targets that builds in incentives for parties and develops enforcement mechanisms.
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In respect of shipping, TCLP has drafted four climate clauses for charterparties accompanied by optional recitals to enhance
their effectiveness, glossaries for net-zero terminology, and explanatory notes for contractual integration.