Real Estate

Sustainability bonds become fashionable among fashion brands

Adrian Cheng's K11 mall joins Chanel and Burberry in issuing a sustainability-linked bond, which commits the company to a renewable-energy goal.
Artist rendering of K11 Atelier King's Road in Hong Kong
Artist rendering of K11 Atelier King's Road in Hong Kong

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

In doing so the company raised $200 million and also committed itself to achieving 100% renewable energy for its Greater Bay Area rental properties in the coming five years. So, K11 in the future will be using more solar panels and wind turbines to generate power. The move will also benefit those fashion brands that commit to sustainability in their operation and help fashion brands to achieve their renewable energy mission in the stores.

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