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Save the Duck receives 3m euro sustainability loan

Business

Save the Duck receives 3m euro sustainability loan

By Don-Alvin Adegeest

Mar 1, 2021

Save The Duck, Italy’s first fashion company to obtain the B Corp recognition, has received a three million S-Loan (Sustainability Loan) from the Intesa Sanpaolo bank. The loan, which is to be paid back over 72 months, is to provide improvement in the company’s environmental, social and governance operations. These include launching a green supply policy extended to its entire supply chain (purchases, transport and energy supplies) prioritising products and services with a lower environmental impact. The second objective relates to the share of customers and suppliers involved in sustainability issues through specific culture promotion programs aimed at involving them in the adoption of ‘green’ practices.

“This financial transaction is a further confirmation of the goodness of the path undertaken by Save The Duck in the name of 360 degree sustainability, which we hope will also be an example for other companies active in the most diverse markets”, commented the founder and CEO of the Italian brand of 100 percent animal free down jackets Nicolas Bargi.

Other companies who have received sustainability loans include Tod’s, who signed a loan agreement with a pool of banks coordinated by Intesa Sanpaolo for a total maximum amount of 500 million; H&M, which issued a 500 million euro sustainability bond, as well as Chanel, Adidas, Burberry, VF Corporation, Moncler and Prada.