Luxury fashion buys into climate finance

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Luxury fashion buys into climate finance

Iconic brand Chanel has signed a €600 million sustainability-linked bond to reduce carbon emissions. In recent years, the fashion industry has been rapidly adopting sustainable strategies and practices.  In 2019, 32 companies — including luxury brands Prada, Gucci, and Chanel — signed a global pact to fight climate change. Now, iconic luxury label Chanel has stepped up its commitment by raising an innovative sustainability-linked bond, an impressive €600 million initiative, through banking partner BNP Paribas.  The transaction is a first in the luxury sector as it links Chanel’s bond terms…

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