UK News
Contract Lifecycle Management (CLM) disruptor Summize has teamed up with The Chancery Lane Project (TCLP) to accelerate climate-conscious contract drafting. The two have come together to launch an industry first Green Playbook that will make climate clauses more accessible and usable in any contract.
TCLP is a fast-growing global network of business leaders and law firms, using the power of commercial contracts to fight climate change. TCLP gives corporates and lawyers the climate clauses they need to deliver rapid decarbonisation at scale and make climate risk mainstream. . To date, its clauses have been downloaded more than 55,000 times, across 73 countries. Through this new collaboration, their climate conscious clauses will also be readily available within Summize’s Integrated Contract Lifecycle Management (CLM) solution. When drafting a contract via Summize’ Word add-in, users will be able to decide the climate action they need, selecting one of TCLP’s clauses, and adding that wording to the agreement.
Founded in 2018 by former General Counsel Tom Dunlop, Summize makes contract workflows smarter by digitising and automating manual legal processes via established platforms such as Word, Teams, and Slack. The latest partnership with TCLP will make peer reviewed green clauses easily implemented into contracts directly within Word, from a standardised contract playbook.
The Green Playbook will play a crucial role in helping businesses deliver climate agendas and achieve net zero carbon emissions, by making green objectives accessible and trackable across the contract lifecycle.
Tom Dunlop, CEO and co-founder of Summize, said: “ESG has become a huge priority for many businesses recently, and it is here to stay. The average reported time to manually review one contract is approximately 92 minutes, and with businesses needing to be more diligent in line with climate objectives, this time only extends. This is where legal tech can add real values to businesses, by speeding up the entire contract process and making climate-conscious drafting as quick as possible.
“That’s why we’re pleased to be working with TCLP, to not only put ESG objectives at the heart of business operations, but to make community-sourced climate content available to all Summize customers, helping in-house legal teams meet anc champion wider environmental business goals.”
Becky Annison, Director of Engagement at The Chancery Lane Project, said: “The legal industry is in a unique position to help tackle the climate crisis, and we’re passionate about giving business leaders and law firms the tools they need to amend agreements to create the best climate outcomes as quickly as possible.”
“We are excited to work together with Summize on such an important cause. The Green Playbook will help Summize’s growing list of clients accurately define climate terms and know the key issues to look out for when including net zero commitments in contracts.”
The collaboration is part of Summize’s strategy to address real business challenges through legal tech innovation. Earlier this year, Summize partnered with leading legal design and operations consultancy The Law Boutique (TLB) - architects of the widely adopted oneNDA initiative – to launch a new framework to simplify and standardise legal contracts, also available as a playbook within Summize.
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