M&S agrees £850m green finance deal

M&S’ recently refreshed its Plan A sustainability strategy which will now include a new commitment to reach net-zero across operations, its global supply chain and products by 2040.

The sustainability-linked loan has focused KPIs with BNP Paribas the sole sustainability coordinator, sole documentation and RFR co-ordinator and joint mandated lead arranger and bookrunner.

The SLL supports M&S Plan A objectives through targeting four environmental KPIs which are part of the roadmap to net-zero and will be publicly reported on an annual basis, including: Percentage of soy from physically certified deforestation and conversion free supply chains, percentage of polyester in clothing and home products coming from verified recycled sources, reducing Scope 1 and 2 emissions from property estate, and cumulative number of individual disposable units of plastic packaging that have been removed from packaging portfolio.

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