Post by account_disabled on Mar 5, 2024 22:14:23 GMT -5
What is the H&M sustainability bonus about? The company, which owns brands such as Cos and Monki as well as its namesake H&M, issued the bond late last week and confirmed it had been oversubscribed more than seven times.
According to edie , the bond has a maturity of 8.5 years and H&M Group used BNP Paribas, Commerzbank, Danske Bank, SEB and Standard Chartered as bookmakers in the operation. SEB acted as advisor and Sustainalytics provided third-party assessments of the bond KPIs.
H&M Group stated that the proceeds from the bonds will be used to finance initiatives to make progress towards key materials and emissions targets.
Details of the H&M sustainability bonus
The company strives to increase the proportion of recycled materials across its entire product portfolio to 30% by 2025.
The H&M group aims to reduce operational emissions by a fifth and scope 3 (indirect) emissions from raw materials, fabric production, garment manufacturing and transport by a tenth. These goals also have deadlines for 2025.
The company's CEO, Helena Ecuador Mobile Number List Helmersson, stated that the success of the bond issue is "proof that the financial market values its ambitious work on sustainability."
H&M Group's long-term sustainability visions include becoming a “fully circular” company and achieving net-zero emissions.
The company has often faced the argument that if it wants to fulfill the first of these commitments, it must move away from the fast fashion model, linked to overconsumption and waste.
While a slower approach is visible through brands such as Cos and Arket, H&M's own approach has focused on recycled content and textile recycling.
H&M sustainability bonus for 500 million euros
When it comes to emissions, the company is part of the UN Fashion Charter, along with companies such as Primark, Levi Strauss and Inditex, owner of Zara. The Charter calls on its members to chart a path towards net zero in all areas by 2050 at the latest.
A barrage of announcements about sustainable finance
The H&M Group is one of many renowned companies that have published new financial offers related to sustainability since the new year.
In January, Asian real estate giant City Developments Limited (CDL) confirmed a new green revolving credit facility totaling $470 million that will be used to refinance its Republic Plaza commercial property and future low-carbon projects.
Last week, Anheuser-Busch InBev (AB InBev) announced what it says is the largest sustainability-linked corporate loan to date, priced at $10.1 billion, while Thai Union announced a new package of $400 million loans with interest payments tied to climate, sustainability and due diligence goals.
The work week was completed with the announcement of the metals division of the EN+ Group, which confirmed the obtaining of 200 million dollars within the framework of a new pre-export financing line linked to sustainability.
The interest rate on the credit line is subject to a discount if the company meets its decarbonization objectives; In particular, it strives to achieve the goal of net zero emissions by 2050, with an interim goal of reducing absolute emissions by 35% by 2030.
For the new line, Crédit Agricole Corporate & Investment Bank together with Natixis acted as authorized lead arrangers. Societe Generale and Natixis also acted as sustainability coordinators and Crédit Agricole Corporate & Investment Bank as sustainability organizer.
We are very pleased to sign this new financing linked to sustainability, which once again demonstrates the support of the financial community for the Group's ESG strategy and is part of the continuous momentum we have achieved in our efforts to offer the most sustainable aluminum and with less carbon emissions from the market.
As customer demand for more sustainable and environmentally friendly aluminum grows, the Group is committed to reducing the carbon footprint of its products and this facility will allow us to further strengthen our ESG credentials.
According to edie , the bond has a maturity of 8.5 years and H&M Group used BNP Paribas, Commerzbank, Danske Bank, SEB and Standard Chartered as bookmakers in the operation. SEB acted as advisor and Sustainalytics provided third-party assessments of the bond KPIs.
H&M Group stated that the proceeds from the bonds will be used to finance initiatives to make progress towards key materials and emissions targets.
Details of the H&M sustainability bonus
The company strives to increase the proportion of recycled materials across its entire product portfolio to 30% by 2025.
The H&M group aims to reduce operational emissions by a fifth and scope 3 (indirect) emissions from raw materials, fabric production, garment manufacturing and transport by a tenth. These goals also have deadlines for 2025.
The company's CEO, Helena Ecuador Mobile Number List Helmersson, stated that the success of the bond issue is "proof that the financial market values its ambitious work on sustainability."
H&M Group's long-term sustainability visions include becoming a “fully circular” company and achieving net-zero emissions.
The company has often faced the argument that if it wants to fulfill the first of these commitments, it must move away from the fast fashion model, linked to overconsumption and waste.
While a slower approach is visible through brands such as Cos and Arket, H&M's own approach has focused on recycled content and textile recycling.
H&M sustainability bonus for 500 million euros
When it comes to emissions, the company is part of the UN Fashion Charter, along with companies such as Primark, Levi Strauss and Inditex, owner of Zara. The Charter calls on its members to chart a path towards net zero in all areas by 2050 at the latest.
A barrage of announcements about sustainable finance
The H&M Group is one of many renowned companies that have published new financial offers related to sustainability since the new year.
In January, Asian real estate giant City Developments Limited (CDL) confirmed a new green revolving credit facility totaling $470 million that will be used to refinance its Republic Plaza commercial property and future low-carbon projects.
Last week, Anheuser-Busch InBev (AB InBev) announced what it says is the largest sustainability-linked corporate loan to date, priced at $10.1 billion, while Thai Union announced a new package of $400 million loans with interest payments tied to climate, sustainability and due diligence goals.
The work week was completed with the announcement of the metals division of the EN+ Group, which confirmed the obtaining of 200 million dollars within the framework of a new pre-export financing line linked to sustainability.
The interest rate on the credit line is subject to a discount if the company meets its decarbonization objectives; In particular, it strives to achieve the goal of net zero emissions by 2050, with an interim goal of reducing absolute emissions by 35% by 2030.
For the new line, Crédit Agricole Corporate & Investment Bank together with Natixis acted as authorized lead arrangers. Societe Generale and Natixis also acted as sustainability coordinators and Crédit Agricole Corporate & Investment Bank as sustainability organizer.
We are very pleased to sign this new financing linked to sustainability, which once again demonstrates the support of the financial community for the Group's ESG strategy and is part of the continuous momentum we have achieved in our efforts to offer the most sustainable aluminum and with less carbon emissions from the market.
As customer demand for more sustainable and environmentally friendly aluminum grows, the Group is committed to reducing the carbon footprint of its products and this facility will allow us to further strengthen our ESG credentials.