Prada just took out a $55 million loan that'll see interest rates lowered in exchange for going green — and it's a first for the luxury goods industry

The Prada fashion group has taken steps to become a more environmentally-friendly company. The fashion group has signed for a loan, which"will see interest rates lowered based on 'achievement of ambitious targets related to sustainability.'" It's being touted as the first business loan of its kind in the luxury goods sector. Visit Business Insider's homepage for more stories.

The Prada fashion group has taken steps to become a more environmentally-friendly company. The fashion group has signed for a loan, which"will see interest rates lowered based on 'achievement of ambitious targets related to sustainability.'" It's being touted as the first business loan of its kind in the luxury goods sector. Visit Business Insider's homepage for more stories.

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Prada Secures First Sustainability-related Loan in Luxury Goods IndustryCrédit Agricole Group will grant Prada SpA 50 million euros over five years through a Sustainability Term Loan, introducing a rewarding annual pricing adjustment based on the achievement of sustain…
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