L&T Commits To Carbon And Water Neutrality
The ESG roadmap will align with the 5-year strategic plan, Lakshya 2026: CEO and MD
Climate change across the world has emerged as one of the biggest challenges of the 21st century. Corporates, one of the biggest contributors, are now working to mitigate the effects.
L&T, a hi-tech manufacturing and services conglomerate, has reaffirmed its commitment to integrate its environmental, social and governance (ESG) goals and is working to become a ‘Net Zero’ company. Operating primarily in the construction and engineering sector, L&T is incorporating climate related policies.
A net zero company achieves a state in which the activities of the company result in no net impact on the climate, achieves a sustainable balance between water availability and demand, and eliminates solid waste sent to landfills.
It has launched its fourth integrated report, Sustainable Progress for a Better World.
Over the years, L&T has been focusing on ESG parameters such as climate stewardship, circular economy, green offerings, green supply chain, employee and social welfare, workforce health & safety.
The company aims to conserve the vital natural resources. More than 10 per cent of the total electricity consumed by the company comes from renewable sources. Cumulatively, the company has saved 128 million KWh of energy since 2008. Through energy conservation measures and renewable energy, the company has avoided 33,500 tonne of carbon dioxide emissions during FY21.
On the water management front, L&T has been recycling its waste water. As much as 57 per cent of its wastewater in FY21 has been recycled and reused. The company has also been focusing on material recycling. Since the year 2008, the company has cumulatively used 43,068 tonne of recycled steel and 2.4 million tonne of fly ash. Today, 22 per cent of its input material comes from recycled or eco-friendly sources.
Raising the bar, the company is undertaking big goals related to climate change and water security. The company aims to achieve carbon neutrality by 2040, ahead of the Paris Agreement deadline of 2050, and water neutrality by 2035.
S.N. Subrahmanyan, CEO and managing director, L&T said, “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.”