LONDON - Retailer John Lewis has signed a £420 million (US$575m) green finance deal linked to environmental targets including its bid to reach net-zero emissions by 2035.

The revolving credit facility - provided by a total of seven banks - is tied to performances against emissions, waste and transport over the next five years.

Under the deal, the interest rates paid by the John Lewis Partnership will vary depending on its progress against three sustainability pillars.

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