Chanel issues bond for climate goals

Chanel issues bond for climate goals

By fijivillage
Saturday 26/09/2020
[Photo: Chanel]

Chanel has raised a 699-million-dollar bond with clauses linked to its environmental and climate goals. The news was reported by Reuters. As sustainability continues to be one of the key topics in the fashion industry, Chanel is making sure it’s on board with the industry shift to going green.

The company is working on switching away from less eco-conscious materials used in clothing and handbags and are looking at ways to try and improve its energy sourcing in stores.

The five- and ten-year bond issued by Chanel marks the first time the company has embarked into the bond market.

There’s potential for some proceeds to go toward startups developing alternatives to materials like plastic.

The terms of the deal say Chanel will have to pay a premium when the bonds mature if it doesn’t mean emission cutting goals within the company and their supply chain.

Chanel is looking at ways to restructure its future financing strategy and keep it in line with its new sustainability goals.

The brand is literally on to greener pastures.

[Source: FashionUK]

FEATURE NEWS
Pryde is entitled to be paid salaries until he is removed from office - Rabuka
Prime Minister Sitiveni Rabuka has stated that the suspended Director of Public Prosecutions, Christopher Pryde is entitled to continue receiving his ...
18 hours ago
LATEST NEWS
Two 15-year-old students questioned for alleged drug possession at school
Two 15-year-old students have been questioned for allegedly possessing methamphetamine and marijuana on school premises. Assistant Commissioner of ...
20 minutes ago

Tamavua Village to benefit from 11-acre business park initiative
More job opportunities are expected to be created for the people of Tamavua Village in Naitasiri as the Yavusa of Matanikutu is developing the land ...
40 minutes ago

Thousands turn up to second last day of Fiji Showcase
The cold Suva weather did not deter thousands of people who came out in numbers to enjoy the second last day of Fiji Showcase while thousands more ...
2 hours ago

PM calls for Online Safety Commission to take action after alleged cyberbullying tragedy
Following allegations that a member of the LGBTIQ+ community was driven to take their own life after getting cyberbullied, Prime Minister Sitiveni ...
15 hours ago

WOWS Kids Foundation seeks donations to aid children with cancer at Fiji Showcase
The WOWS Kids Foundation is seeking assistance from the public and business houses to support the work they do in assisting children living with ...
16 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
2024-2025 National Budget address by the Minister for Finance
2024-2025 National Budget address by the Minister for Finance Prof. Biman Prasad. 2024-2025 Budget ...
6 days ago

Crisis within FijiFirst that led to its deregistration
The FijiFirst Party has been de-registered by the Registrar of Political Parties, Ana Mataiciwa. This is the end of the party that led government ...
10 days ago

Pre-Budget 2024-2025
Pre Budget 2024-2025 budget recommendations and an insight of what people on the ground wish to see in the National Budget
16 days ago

TOP