In September, M&S pledged to become net zero in carbon emissions across its own operations, its entire supply chain and its products by 2040, ten years ahead of a government target for Britain.

Under the terms of the new credit facility, M&S will benefit from a lower interest rate if it delivers targets aligned to its net zero roadmap.

The retailer said it had worked with BNP Paribas on the financing deal.

($1 = 0.7536 pounds)

(Reporting by James Davey. Editing by Jane Merriman)