Trending...
- Joyoshare Newly Introduced VidiKit to Improve Video-processing Efficiency
- Colorado Springs: First phase of Spring Creek restoration project underway
- Colorado Springs: Episode 53: Brothers making history in COS
DENVER--(BUSINESS WIRE)--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 CO2e 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."
More on Colorado Desk
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.
More on Colorado Desk
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.
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 CO2e 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."
More on Colorado Desk
- Honorary Oscar-Winner Charles Burnett brings his award winning film on COVID-19 / Black Hollywood to the Prestigious Pan African 2021 Film Festival
- In a year of recession, Lantek closes 2020 with record sales figures and customer numbers
- MassRoots Exploring Re-Launch of its Mobile Applications
- The Koedo Kawagoe Spring Festival Celebrates the Arrival of Springtime in Kawagoe, Japan
- Advance America to Offer Western Union Global P2P Payments
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.
More on Colorado Desk
- Aaron's Energy: An Unexpected Journey Through Grief and the Afterlife With My Brilliant Son
- Gores Holdings VII, Inc. Announces Pricing of Upsized $480 Million Initial Public Offering
- MC Residential Activates in the Wake of Texas Weather Crisis
- The Best SEO Company in New York City Is Proving Local Businesses Free SEO Audit As COVID-19 Relief
- Colorado Springs: Centennial Boulevard Extension Public Meeting
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.
Filed Under: Business
0 Comments
Latest on Colorado Desk
- Help Sharon Kick Cancers Arse!
- Legacy Gospel Series Project - New Previously Unreleased Recordings
- Winter Storm Damage and Your Insurance Claim
- Most Effective Tools for Promoting Your Event on Facebook by Entrepreneur Ismail Sirdah
- Mentorship Book Featuring Successful Black Lawyers Created for Black Law School Aspirants Available Now for Free
- Colorado Springs: Episode 53: Brothers making history in COS
- NEAT Expands Application to Olfactory and Degustation Sensory Diagnostics
- Colorado Springs: First phase of Spring Creek restoration project underway
- Help Support Sharon During Chemo
- The Annual Daycare Games Competition for Pet Care Businesses in Full Swing!
- California Pools Opens Atlanta Location, Expanding Its Industry Leadership
- TallGrass Spa food drive benefits Mountain Resource Center
- Avionics Veteran Preston Dane joins L2 Aviation as Senior Account Manager
- Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos
- Durante Rentals Hires Industry Veteran Steve Durante as Chief Sales Officer
- Maxar Board of Directors Approves Quarterly Dividend
- A+ Editing Launches New Local Publication
- Joyoshare Newly Introduced VidiKit to Improve Video-processing Efficiency
- Aesthetic Mentor Continues National Expansion with New Medical Training Facility in Hartford, Connecticut