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Co-op has announced it has launched a new £300m sustainability bond in order to keep up with its Fairtrade commitments.
According to Co-op the sustainability bond will be the first ever for a retailer, and will aim to give farmers a better deal for produce along with adding more Fairtrade produce to its shelves.
Co-op chief executive Steve Murrells, said: “The popularity of this bond demonstrates confidence in the Co-op’s growth strategy and in particular how we’ve placed sustainability at the heart of our future plans.
“Co-op was an early pioneer of Fairtrade, and now with the support of like-minded investors we can grow it further, opening up new opportunities and creating value for our members as well as producers and communities in developing countries.”
Following the launch, Co-op said it could issue up to £900m worth of further sustainability bonds in order to introduce energy efficient technology to reduce emissions and add further responsibly sourced products to its stores.
