DENVER — February 18, 2021 — VF Company, one of many world’s largest attire, footwear and equipment corporations, at the moment introduced it has absolutely allotted the online proceeds from its inaugural inexperienced bond issued final yr, which totaled roughly €493 million.
The proceeds allotted to 13 of VF’s eligible sustainability tasks worldwide helped to ship significant optimistic environmental impacts, together with 2 million timber planted, roughly 16,000 metric tonnes of CO2e prevented yearly by way of procurement of sustainable supplies, and greater than 970 million liters of water saved yearly by way of conservation initiatives.
“We take nice delight in being the primary firm within the attire and footwear trade to subject a inexperienced bond,” mentioned Scott Roe, Govt Vice President and Chief Monetary Officer for VF. “We imagine that enterprise success and environmental stewardship are carefully linked collectively, demonstrated by the success of this effort which has enabled us to advance progress towards attaining our science-based targets whereas additionally strengthening our enterprise for the long run. We hope our success will encourage others in our trade and past to pursue related initiatives.”
VF issued its inaugural inexperienced bond, the primary for the attire and footwear trade, in February 2020. The allocation of the inexperienced bond web proceeds was an essential step in VF’s implementation of its Made for Change sustainability and duty technique, which helps the corporate’s enterprise goals with actions that enhance lives and shield the planet.
VF’s use of the inexperienced bond proceeds demonstrates its dedication to a few key sustainability areas which can be core to its enterprise: sustainable merchandise and supplies; sustainable operations and provide chain; and, pure carbon sinks. As well as, the online proceeds assist tasks that align with key United Nations Sustainable Growth Objectives (SDGs): SDG 7 – Reasonably priced and Clear Vitality; SDG 9 – Trade Innovation and Infrastructure; SDG 12 – Accountable Consumption and Manufacturing; and, SDG 15 – Life on Land.
To offer transparency for its inexperienced bond initiative, VF has revealed a Inexperienced Bond Influence Report, which features a full breakdown of allotted proceeds and choose metrics and achievements of associated tasks.
VF’s inexperienced bond was issued in accordance with the ICMA Inexperienced Bond Ideas (GBP) 2018. VF’s Inexperienced Bond Framework was reviewed by Sustainalytics, a number one world supplier of sustainability analysis and providers that issued a Second-Occasion Opinion declaring that the framework is credible and impactful.
Posted February 18, 2021
Supply: VF Company