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The Science of Climate Change

Climate change is no longer a distant threat or just a possibility, it is now a reality for all of us. In this pathway, Kevin Trenberth, a renowned climatologist, delves into the science behind climate change. He first introduces the climate system, its main components and forces.

Tackling the Plastic Crisis

Plastic pollution is by far the biggest threat to our oceans and this remains an incredibly tough problem to solve. Plastic credits could potentially serve as one of the much needed solutions for this crisis.

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The Scale of the Net Zero Challenge

The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy.

ESG, Sustainability and Impact Jargon Buster

ESG, sustainability, impact… they all just mean green, right? Not quite. Despite being used often interchangeably, there are distinct differences between these terms.

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Featured Pathways

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The Science of Climate Change

Climate change is no longer a distant threat or just a possibility, it is now a reality for all of us. In this pathway, Kevin Trenberth, a renowned climatologist, delves into the science behind climate change. He first introduces the climate system, its main components and forces.

Tackling the Plastic Crisis

Plastic pollution is by far the biggest threat to our oceans and this remains an incredibly tough problem to solve. Plastic credits could potentially serve as one of the much needed solutions for this crisis.

More pathways

Book a demo

Ready to get started?

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Sustainability Unlocked to your current platform

Featured Content

More featured content

The Scale of the Net Zero Challenge

The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy.

ESG, Sustainability and Impact Jargon Buster

ESG, sustainability, impact… they all just mean green, right? Not quite. Despite being used often interchangeably, there are distinct differences between these terms.

More featured content

Book a demo

Ready to get started?

Book a demo

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PPA Price Risk and Force Majeure

PPA Price Risk and Force Majeure

Lachlan Tait

15 years: Renewable energy & project finance lawyer

In the final video of this series, Lachlan expands on the area by outlining two more sector-specific challenges: PPA price risks and the impacts of COVID-19 as a force majeure event.

In the final video of this series, Lachlan expands on the area by outlining two more sector-specific challenges: PPA price risks and the impacts of COVID-19 as a force majeure event.

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PPA Price Risk and Force Majeure

9 mins 1 sec

Key learning objectives:

  • What are PPA price risks?

  • What are the impacts of COVID-19 as a force majeure event?

Overview:

In this video, we look at how contracts can be used to help overcome some of the challenges faced by renewable energy projects. We also examine how to ensure that force majeure clauses are drafted consistently across project contracts.

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Summary

What are PPA price risks?

PPAs that were agreed in the past when prices were higher can become relatively expensive, or "out of the money". These PPAs increasingly face the risk of the buyer seeking to renegotiate the price. A bankable PPA must exclude any contractual scope for price renegotiation except in limited circumstances. Aggressive buyers may go so far as to withhold payments or performance of other obligations in order to build leverage and force a renegotiation.

What are the impacts of COVID-19 as a force majeure event?

Covid and related lockdowns and border closures have had and continue to have huge impacts on industrial activity and supply chains around the world, as well as on electricity consumption and oil prices. One contractual impact of Covid has been a multitude of force majeure claims. Force Majeure clauses are designed to exempt a party from liability for breach of contract, where the party's breach is due to an event like Covid. Covid has been a major test for force majeure clauses, as well as for projects and project lenders. The impacts of Covid should be unforeseeable and unavoidable.


Access to relief should remain subject to standard conditions. Contracts must be both bankable in themselves and in interfaces with other contracts. Lenders are still key stakeholders and their interests must also be protected.

 

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Lachlan Tait

Lachlan Tait

Lachlan Tait is a lawyer specialising in renewable energy and project finance, and has been for 15 years. For the last 5 years he has worked in-house with renewable energy developers active across a range of jurisdictions, including both developed and emerging markets. He has participated in the negotiation, documentation and closing of numerous renewables project financings, involving a wide range of lenders including smaller national banks and international commercial banks.

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