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DENVER - VF Corp, which owns brands including Timberland and North Face, has announced that it has fully allocated the €493 million (US$595m) proceeds from its first green bond issued last year.

The money raised from the offering - the first ever green bond issued in the apparel and footwear industry - was used to fund 13 projects within the company's Made for Change sustainability strategy.

VF Corp says the investments enabled the company to avoid about 16,000 metric tonnes of CO2 emissions each year through the procurement of more sustainable materials. 

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