Sustainable goals and financial means to achieve them. Salvatore Ferragamo have announced their own green targets, whose “feasibility” has been even endorsed by a third body. In the meantime, Burberry are about to issue some bonds to financially support, or refinance, a few projects focusing on sustainability.
Green targets
Such is the plan: to limit, within the end of 2029, by 42%, compared to 2019 figures, direct and indirect greenhouse gas emissions, that is, resulting from production of energy used by the group. In addition, to reduce considerably, over the same time span and to the same extent, emissions related to purchase of goods and services, logistics and distribution supply. Such are the targets, set by Ferragamo, which have been recently endorsed by the Science Based Targets Initiative. “We undertake to strive hard to reduce, in terms of quantity, our environmental footprint – announced president Ferruccio Ferragamo, as subsequently reported by WWD –: even though it is going to be a challenging commitment, it makes us pragmatic. That is why we now take pride in setting off for this route”.
Burberry bonds
Ferragamo have recently reached an agreement with Intesa Sanpaolo bank to issue some bonds that will help the brand achieve their green targets. Likewise, Burberry are going to do the same: in fact, like we said earlier, they are about to issue some bonds for the same purpose. They are still on a preliminary stage though. As reported by international press, the British group solicited its rating from Moody’s agency: they are confident obligations will be rated Baa2 and outlook will be viewed as stable.
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