Commercial, Finance - March 7, 2023
VF Corporation Closes Second Green Bond
VF Corporation, a global company focused on branded lifestyle apparel, footwear, and accessories, announced the closing of a €500 million green bond offering, representing its second green bond issued.
The net proceeds from the offering have been dedicated to advance programs within the company’s Sustainability & Responsibility strategy and drive progress toward achievement of its science-based targets (SBTs).
“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,” said Jeannie Renné-Malone, VF’s Vice President of Global Sustainability, in a statement. “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 dedicated an amount equivalent to the green bond net proceeds to support projects that align with key United Nations’ Sustainable Development Goals for 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; renewable energy installations; zero-waste distribution center; reforestation conservation projects; and investments in regenerative agriculture practices.