‘Regenerative ranching’ to benefit from VF’s €500m bond
Timberland’s parent group VF Corporation has closed a €500 million green bond offering, which it says is the first such fundraising in the clothing and footwear industry.
VF will use the proceeds to support projects that align with key United Nations’ Sustainable Development Goals.
Its regenerative ranching project, which Timberland launched early last year, will benefit from the investment. Timberland will create a leather supply chain traceable to the farms.
VF CEO Steve Rendle said: “Delivering on our commitments to environmental and social responsibility is equally important as meeting our financial commitments to shareholders.
“The overwhelming interest in our green bond serves as an endorsement from the business community for our purpose-led agenda and focus on connecting business success with actions that improve lives and our planet.”
By 2030, VF has committed that all of its top nine materials, which account for 90% of its materials-related carbon emissions, will originate from regenerative, responsibly sourced renewable, or recycled sources.
