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 has no net impact on the climate from greenhouse gas emissions, achieves a sustainable balance between water supply and demand, and eliminates solid waste transported to landfills.
Mindtree, L&T Infotech (LTI), L&T Technology Services (LTTS), and L&T Finance Holdings (LTFH) are among the business’s important subsidiaries taking meaningful activities and setting ambitious goals in these areas, according to the company. By 2030, Mindtree, LTI, and LTTS have set goals to become Carbon Neutral and Water Neutral. LTFH, likewise, has set a goal of becoming 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 said.
L&T claims that renewable energy accounts for more than 10% of its overall electricity consumption. Since 2008, the company has saved a total of 128 million KWh of energy, which is enough to power 60,000 homes for a year. During FY21, the company eliminated 33,500 tonnes of CO2 emissions by implementing energy conservation measures and using renewable energy.
The company has also been focusing on material recycling, and has used 43,068 tons of recycled steel and 2.4 million tons of fly ash since 2008. L&T said that its green offerings stood at Rs. 277 billion, which is 29.6% of revenue.