LONDON – British retailer Marks & Spencer (M&S) has agreed a new £850 million (US$1.13m) green finance deal which will see it benefit from discounted interest rates if it meets its net zero carbon emissions targets.
M&S recently refreshed its 'Plan A' sustainability strategy to include an ambitious new commitment to reach net-zero emissions across its own operations, its entire global supply chain and its products by 2040.
The company has now agreed a revolving credit facility (RCF) 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.
