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Durable Bonds Become Trendy Among Fashion Brands | New




Hong Kong New World Development (NWD) real estate developer, owner of the K11 properties, became the first real estate developer in the world to sell a US dollar-based sustainability bond (SLB) last Friday.

In doing so, the company has raised US $ 200 million and has also committed to achieving 100% renewable energy for its rental properties in the Grande Baie region over the next five years. Thus, K11 will use more solar panels and wind turbines to generate electricity in the future. This decision will also benefit fashion brands that are committed to sustainable development in their activities and help fashion brands achieve their mission of renewable energy in stores.

NWD maintained a 5-star rating (the highest) on the Global Real Estate Sustainability Benchmark (GRESB) in 2019 and 2020. “Companies must take timely action to tackle climate change,” said the CEO Adrian Cheng.

Green branding is not new, but cooperation between brands and developers is increasing as fashion brands are the biggest tenants of these malls and fashion brands seem to value sustainability more than ever. . They are looking for greener places to set up their stores.

The action is linked to the fact that the industry was named the second most polluting industry by the United Nations Conference on Trade and Development (UNCTAD) in 2019. Within a year, the brands of Global fashions have rushed into fashion to issue trendy and greener bonds.

Chanel announced in September 2020 to have raised 600 million euros via an SLB, the first of the fashion brands. Thus, Chanel must use 100% renewable electricity by 2025 in all of its stores, which pushes it to seek places with high-tech and renewable energy missions to help achieve the goal.

British rival Burberry announced its own SLB in the same month and aims to achieve a climate neutrality target by 2022.

In a time of pandemic and financial turmoil, ESG (environment, sustainability and governance) commitments have injected not only greener energy, but real money into the fashion industry as well. Ferragamo obtained a loan of 250 million euros for its ESG objectives in June 2020. Moncler obtained a loan commitment of 400 million euros in July 2020. And Prada signed a contract with Crédit Agricole for a loan of sustainability in November 2019.

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