Burberry agrees loan linked to sustainability 

January 26, 2022 EcoVadis EN


Luxury fashion brand Burberry has agreed a £300m (US$410m) loan linked to its performance against its sustainability targets, including the company's headline goal of being climate positive by 2040.

Burberry refinanced its revolving credit facility (RCF), coordinated by Lloyds Bank, for the sustainable finance package which is linked to the achievement of key environmental, social and governance (ESG) targets.

These include accelerating emissions reductions across its extended supply chain (Scope 3) by 46 per cent by 2030 and becoming net zero by 2040, 10 years ahead of the 1.5°C pathway set out in the Paris Agreement.


Read the full article at: www.ecotextile.com

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EcoVadis is a purpose-driven company whose mission is to provide the world's most trusted business sustainability ratings. Businesses of all sizes rely on EcoVadis’ expert intelligence and evidence-based ratings to manage risk and compliance, drive decarbonization, and improve the sustainability performance of their business and value chain. Its AI-powered risk mapping, actionable scorecards, benchmarks, carbon action tools, and insights guide a resilience and improvement journey for environmental, social and ethical practices across 200 industry categories and 175 countries.

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