diff -ru util-linux-2.23.2.orig/sys-utils/hwclock.c util-linux-2.23.2/sys-utils/hwclock.c
--- util-linux-2.23.2.orig/sys-utils/hwclock.c	2013-06-13 10:46:10.000000000 +0300
+++ util-linux-2.23.2/sys-utils/hwclock.c	2014-04-10 09:01:47.931470656 +0300
@@ -390,7 +390,7 @@
 		 * libc's:
 		 *    TZUTC=:/usr/share/zoneinfo/right/UTC
 		 */
-		setenv("TZ", getenv("TZUTC"), TRUE);
+		setenv("TZ", getenv("TZUTC") ?: "", TRUE);
 		/*
 		 * Note: tzset() gets called implicitly by the time code,
 		 * but only the first time. When changing the environment