Slaughter and May advised Burberry on its new £300 million multi-currency sustainability linked revolving credit facility

Slaughter and May advised Burberry Group plc (“Burberry”) on its new £300 million multi-currency sustainability linked revolving credit facility (“RCF”), refinancing its previous £300 million revolving credit facility that had been in place since 2014. Funding under the RCF is linked to the achievement of key ESG targets, as part of Burberry’s ambition to be climate positive by 2040. This includes accelerating emissions reductions across its extended supply chain (Scope 3) by 46% by 2030 and becoming net-zero by 2040, 10 years ahead of the 1.5°C pathway set out in the Paris Agreement. It also involves investing in nature-based projects with carbon benefits that restore and protect natural ecosystems and enhance the livelihoods of global communities.