CHANEL pioneers new Sustainability-Linked Bonds supported by BNP Paribas

BNP Paribas has announced it has supported leading luxury goods company CHANEL to issue its first Sustainability-Linked Bonds. The pioneering €600mn inaugural transaction – a first in the luxury sector linked to the ICMA Sustainability-Linked Bonds Principles – will support CHANEL’s ambitious Mission 1.5° climate strategy by linking the bond terms to carbon reduction targets.  The targets include: Decreasing CHANEL’s own (scope 1 and 2) emissions by 50% by 2030  Decreasing CHANEL’s supply chain (scope 3) absolute greenhouse gas emissions by 10% by 2030  Shifting to 100% renewable electricity in…

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