VF Corporation has closed its second green bond offering, worth €500m, with proceeds dedicated to advancing its sustainability and responsibility strategy. Net proceeds will support the key United Nations’ Sustainable Development Goals. VF CFO Matt Puckett said the bond was a “testament to how much this synergy is part of our business culture and provides investors with additional metrics to measure our environmental commitments.”
VF Corporation, a leading global company in branded lifestyle apparel, footwear, and accessories, has successfully closed its second green bond offering, worth €500 million. The proceeds from this bond will be dedicated to supporting VF’s Sustainability & Responsibility strategy and advancing progress toward its science-based targets (SBTs). Following the success of the company’s inaugural green bond offering in 2020 represents another significant milestone in VF’s commitment to sustainability and its ambitious environmental targets.
VF Corporation’s Sustainability & Responsibility strategy focuses on three core areas: Sustainable Products & Materials, Sustainable Operations & Supply Chain, and Natural Carbon Sinks. The company’s green bond framework outlines the funding eligibility criteria for these three areas, ensuring that the net proceeds from the bond offering are used to support projects that align with the key United Nations’ Sustainable Development Goals, ensuring that VF’s sustainability efforts are measurable, transparent, and accountable.
The demand for VF’s second green bond offering was significant, with worldwide investors expressing interest in supporting the company’s sustainability agenda. VF has committed to using the net proceeds from the offering to support circular and sustainability projects, leveraging its scale for good and driving progress toward its SBTs, demonstrating the importance of sustainability to VF’s investors and reflecting the growing awareness of the need for companies to address environmental issues. Among the various areas, the green bond aims to invest in, we find regenerative agriculture practices.
Jeannie Renné-Malone, VF’s Vice President of Global Sustainability, said, “The overwhelming interest in this offering serves as an endorsement from the investor community for our sustainability agenda.” VF’s CFO, Matt Puckett echoed this sentiment and highlighted the importance of sustainable financing opportunities in building stronger connections between environmental stewardship initiatives and VF’s business culture.
VF Corporation’s commitment to sustainability affirms its purpose of powering movements of sustainable and active lifestyles for the betterment of people and the planet. Through its portfolio of outdoor, active, workwear, and streetwear brands, including Vans, The North Face, Timberland, and Dickies, VF aims to connect people to the activities and experiences they cherish most. By dedicating the net proceeds from its green bond offering to supporting sustainability projects, VF is demonstrating its commitment to making a positive impact on the environment and society.