// Dunelm signs new revolving credit facility linked to environmental targets
// The facility has an initial term of four years, which may be extended
Dunelm has signed up to £185 million of credit linked to its long-term sustainability agenda.
The homewares retailer signed a “sustainability-linked unsecured revolving credit facility” with a number of banks.
Dunelm said the facility has an initial term of four years, which may be extended by a maximum of a further two years.
It said there were four green performance targets which matched its “ambitious” sustainability plans, including a commitment to going Net Zero:
- A 50% cut in the chain’s greenhouse gas emissions by 2030 against a 2019 base, in line with what it says is the Science Based Targets Initiative 1.5 degrees scenario
- All own brand cotton products to meet Dunelm’s “More Responsibly Sourced” standard by 2025
- A 20% cut in plastic packaging of own brand products by 2024
- Provision of a customer recycling service for 50 per cent of products by 2024
The deal has been agreed with Barclays, Lloyds, NatWest, Santander and Credit Industriel et Commercial.
“Our sustainability plans have already taken a big leap forward as we continue to pursue our ambition of being sustainable in everything we do,” Dunelm chief financial officer, Laura Carr said.
“We are delighted to further demonstrate our commitment with this new sustainability linked revolving credit facility, which is clearly aligned to our Net Zero Pathway.
“We appreciate the support of our banking partners and their alignment with our sustainability ambitions.”