CO-VF-CORPORATION
VF Corporation Allocates Green Bond Net Proceeds to Advance Ambitious Science Based Targets
VF Corporation (NYSE: VFC), one of the world’s largest apparel, footwear and accessories companies, today announced it has fully allocated the net proceeds from its inaugural green bond issued last year, which totaled approximately €493 million.
The proceeds allocated to 13 of VF’s eligible sustainability projects worldwide helped to deliver meaningful positive environmental impacts, including 2 million trees planted, approximately 16,000 metric tonnes of CO2 e avoided annually through procurement of sustainable materials, and more than 970 million liters of water saved annually through conservation initiatives.
“We take great pride in being the first company in the apparel and footwear industry to issue a green bond,” said Scott Roe, Executive Vice President and Chief Financial Officer for VF. “We believe that business success and environmental stewardship are closely linked together, demonstrated by the success of this effort which has enabled us to advance progress toward achieving our science-based targets while also strengthening our business for the long term. We hope our success will inspire others in our industry and beyond to pursue similar initiatives.”
VF issued its inaugural green bond, the first for the apparel and footwear industry, in February 2020. The allocation of the green bond net proceeds was an important step in VF’s implementation of its Made for Change sustainability and responsibility strategy, which supports the company’s business objectives with actions that improve lives and protect the planet.
VF’s use of the green bond proceeds demonstrates its commitment to three key sustainability areas that are core to its business: sustainable products and materials; sustainable operations and supply chain; and, natural carbon sinks. In addition, the net proceeds support projects that align with key United Nations Sustainable Development Goals (SDGs): SDG 7 – Affordable and Clean Energy; SDG 9 – Industry Innovation and Infrastructure; SDG 12 – Responsible Consumption and Production; and, SDG 15 – Life on Land.
To provide transparency for its green bond initiative, VF has published a Green Bond Impact Report , which includes a complete breakdown of allocated proceeds and select metrics and achievements of related projects.
VF’s green bond was issued in accordance with the ICMA Green Bond Principles (GBP) 2018 . VF’s Green Bond Framework was reviewed by Sustainalytics, a leading global provider of sustainability research and services that issued a Second-Party Opinion declaring that the framework is credible and impactful.
About VF Corporation
Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans ® , The North Face ® , Timberland ® and Dickies ® . Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210218005384/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CA-C3.AI/BAKER-HUGHES26.2.2021 15:02:05 CET | Press release
C3 AI and Baker Hughes to Provide Enterprise AI Solutions to Accelerate PETRONAS Digital Transformation Program
AVANIA26.2.2021 14:02:10 CET | Press release
Avania in Position for Next Stage of Growth
IPSEN26.2.2021 12:39:07 CET | Press release
Ipsen Receives Positive CHMP Opinion Recommending Cabometyx® in Combination With Opdivo® as First-line Treatment for Patients Living With Advanced Renal Cell Carcinoma
CA-ANDERSEN-GLOBAL26.2.2021 11:53:13 CET | Pressemeddelelse
Andersen Global styrker sin caribiske platform med Baptiste & Co. Law Firm
HIRO-CAPITAL26.2.2021 09:57:10 CET | Press release
Hiro Capital Leads $15 Million of Games VC Investment Into Snowprint Studios, Double Loop Games and Happy Volcano Games
INSPUR-INFORMATION26.2.2021 09:09:06 CET | Press release
Inspur Information Releases 2020 Global Computing Index Report
DE-INCYTE26.2.2021 09:02:05 CET | Press release
Incyte Announces the Validation by the European Medicines Agency of its Marketing Authorization Application for Retifanlimab as a Treatment for Patients with Squamous Cell Anal Carcinoma (SCAC)
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom