LONDON (Reuters) – British retailer Marks & Spencer has agreed a new 850 million pound ($1.13 billion) revolving credit facility that is linked to delivery of its net zero targets, it said on Wednesday.
In September, M&S pledged to become net zero in carbon emissions across its own operations, its entire supply chain and its products by 2040, ten years ahead of a government target for Britain.
Under the terms of the new credit facility, M&S will benefit from a lower interest rate if it delivers targets aligned to its net zero roadmap.
The retailer said it had worked with BNP Paribas on the financing deal.
($1 = 0.7536 pounds)
(Reporting by James Davey. Editing by Jane Merriman)
