LONDON – British retailer Marks & Spencer (M&S) has inked an £850m green finance deal which will allow it to benefit from a discounted interest rate if it meets its net zero carbon emissions targets. The company has agreed a revolving credit facility with BNP Paribas, to run until June 2025, which will reward it with lower interest rates if it is able to deliver on its net-zero strategy.
This follows a revision by M&S of its ‘Plan A’ sustainability strategy to include a new commitment to reach net-zero emissions across its own operations, its entire global supply chain and its products by 2040.
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