Larsen & Toubro Ltd. (L&T) on Thursday reaffirmed its commitment to integrate its ESG (Environment, Social, Governance) goals with business targets and said it was working towards becoming a ‘net zero’ company.
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, L&T said.
In its fourth Integrated Report, ‘Sustainable Progress for a Better World’, L&T said it would achieve carbon neutrality by 2040, ahead of the Paris Agreement deadline of 2050, and water neutrality by 2035.
L&T’s key subsidiaries such as Mindtree, LTI, LTTS and LTFH have also kept ambitious targets in these areas.
While Mindtree, LTI and LTTS have taken targets of becoming carbon neutral and water neutral by 2030, LTFH has taken the target to become carbon neutral 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,” he added.
The company said over the years it had been focusing on ESG parameters such as climate stewardship, circular economy, green offerings, green supply chain, employee and social welfare, workforce health and safety.
L&T said more than 10% of the total electricity it consumed came from renewable sources.
Cumulatively, the company said it had saved 128 million KWh of energy since 2008, which was 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.
On the water management front, it said 57% of wastewater is recycled and reused during FY21. The company said it has also been focusing on material recycling.
