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L&T says it will achieve carbon neutrality by 2040

MUMBAI :

Construction major Larsen & Toubro Ltd (L&T) on Thursday said that it aims to achieve Carbon Neutrality by 2040, ahead of the Paris Agreement deadline of 2050, and Water Neutrality by 2035.

A net zero company achieves a state in which the activities of the company result in no net impact on the climate from greenhouse gas emissions, achieves a sustainable balance between water availability and demand, and eliminates solid waste sent to landfills.

The company added that its key subsidiaries such as Mindtree, L&T Infotech (LTI), L&T Technology Services (LTTS) and L&T Finance Holdings (LTFH) are also taking meaningful actions and ambitious targets in these areas. Mindtree, LTI and LTTS have taken targets of becoming Carbon Neutral and Water Neutral by 2030. Similarly, LTFH has taken the target to become Carbon Neutral by 2035.

 “We are reaffirming our vision, policies, frameworks, roadmaps and action plans on ESG. Our ESG roadmap will align with our 5-year strategic plan – Lakshya 2026, and will reflect our commitment to climate leadership, water stewardship, circular economy, green supply chain, biodiversity, and green offerings. In line with the global push on ESG, we are gearing up for a step-change in our ambitions to scale new heights,” S.N. Subrahmanyan, CEO and Managing Director, L&T

L&T said that more than 10% of the total electricity consumed by the company comes from renewable sources. Cumulatively, the company has saved 128 million KWh of energy since 2008 which is equivalent to powering 60,000 households for one year. Through energy conservation measures and renewable energy, the company has avoided 33,500 tons of CO2 emissions during FY21.

It added that 57% of wastewater was recycled and reused during FY21. The company has also been focusing on material recycling. Since the year 2008, the company has cumulatively used 43,068 tons of recycled steel and 2.4 million tons of fly ash. Today, 22% of its input material comes from recycled or eco-friendly sources, it said.

L&T said that its green offerings stood at Rs277 billion, which is 29.6% of revenue.

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