VF Corporation secures second green bond worth £445m
VF Corporation has announced the closing of its second £445 million (€500 million) green bond offering to support sustainability initiatives.
The 1899-founded company’s inaugural green bond was issued in 2020. The second bond has been dedicated to advance programs within its 'Sustainability & Responsibility' strategy and drive to meet its science-based targets (SBTs).
Jeannie Renné-Malone, VF’s Vice President of Global Sustainability, commented: "Building on the success of our first green bond in 2020, this newest green bond offering is another example of our strong commitment to projects that support the betterment of people and the planet. Elevating our focus on, and investment in, circular and sustainability projects allows us to leverage our scale for good and achieve our ambitious SBTs.
"The overwhelming interest in this offering serves as an endorsement from the investor community for our sustainability agenda."
VF Corporation’s green bond framework will fund the following:
- Sustainable Products & Materials, such as those that support VF’s commitment to source 100% of its top nine materials from regenerative, recyclable or renewable sources by 2030
- Sustainable Operations & Supply Chain, such as renewable energy installations and zero-waste distribution centres
- Natural Carbon Sinks, including investments in regenerative agriculture practices.
Matt Puckett, VF’s CFO, added: "This second green bond issuance is another important step in building stronger connections between our environmental stewardship initiatives and new sustainable financing opportunities. It’s also a testament to how much this synergy is part of our business culture and provides investors with additional metrics by which to measure our environmental commitments."