Nov 17
Green Guarantee
Green Guarantee
WHEN L&T’s 2020-21 Integrated Report was launched virtually on 21 October, the Company’s leadership made a solemn commitment to all stakeholders: to integrate the environmental, social and governance (ESG) goals with its business targets and work towards a ‘Net Zero’ company.
 
A net zero state is achieved when a company’s activities result in no net impact on the climate – from preventing greenhouse gas emissions to achieving a sustainable balance between water availability and demand, and eliminating solid waste from landfills.
 
The report, titled ‘Sustainable Progress for a Better World’, is a comprehensive document for more reason than one. It not only communicates the Company’s strategy, governance, performance and prospects in the context of external environment and value creation but, as L&T CEO & MD Mr S N Subrahmanyan has said, is also a “roadmap” aligned to the organisation’s larger goals and objectives.
 
“We are reaffirming our vision, policies, frameworks, roadmaps and action plans on ESG. Our ESG roadmap will align with our five-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 said.
 
L&T Whole-Time Director and CFO Mr R Shankar Raman, Whole-Time Director and Sr EVP – Energy Mr Subramanian Sarma and Head – Corporate Strategy & Special Initiatives Mr Anup Sahay released the Integrated Report  virtually before the media.
 
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 and safety. Operating primarily in the construction and engineering sector that is prone to climate change, L&T is incorporating climate related policies, including the National Action Plan on Climate Change, Task Force on Climate-Related Financial Disclosures and other similar guidelines into its businesses.
 
While environmental sustainability has been the buzzword within L&T for a while now, the avowed objective is to become a leader in areas with improved resource efficiency and conservation of vital natural resources. More than 10% of the total electricity consumed by L&T comes from renewable sources. Cumulatively, the Company has saved 128 million kWh of energy since 2008, which can power 60,000 households for a year. Through energy conservation measures and renewable energy, L&T has avoided generating 33,500 tonnes of CO2 emissions during FY21.
 
On the water management front L&T recycled and reused as much as 57% of wastewater during FY21. Material recycling has also been a focus area. Since 2008, the Company has cumulatively used 43,068 tonnes of recycled steel and 2.4 million tonnes of fly ash. Today, 22% of L&T’s input material is from recycled or eco-friendly sources. Its green offerings, at Rs 277 billion, is 29.6% of its total revenue.
 
The Company has urban forests at six locations and 150,000 trees across various campuses. During the year, it planted nearly 1 million saplings. Similarly, on the safety front, the Company is focusing on high-risk activities and several measures, including the use of digital AI technologies, have helped in significantly improving its safety performance.
 
Being the leading EPC, hi-tech manufacturing and services conglomerate in India, L&T is using technology and innovation to achieve sustainable growth. While digital chipsets are used to track and monitor assets, geospatial tech, LiDAR and drone-based surveys have helped L&T capture and monitor site data remotely during the lockdown.
 
L&T’s green offerings comprise projects embedded with advanced technology, solutions centred on renewables, water, effluent treatment plants, efficient power distribution, mass transit systems and green buildings. The holistic and integrated approach is applied to L&T’s value-creation model based on the six capitals – financial capital, manufactured capital, intellectual capital, human capital, natural capital, and social and relationship capital. Across these, the Company strives for continual improvement in people, planet and profit.
 
Social Front
 
On the social front, L&T has touched the lives of 1.2 million people and has spent Rs 150 crore on education, health, skill development and water and sanitation. In addition, Mindtree, LTI, L&T Technology Services (LTTS) and L&T Finance Holdings (LTFH) have contributed Rs 80 crore towards CSR during the year. Further, at the Group level, it contributed Rs 150 crore to the PM CARES Fund at the onset of the pandemic, and an additional Rs 39 crore was later allocated towards COVID care initiatives.
 
L&T’s workforce played a key role in driving seamless operations during COVID-19 and have been delivering projects effectively on time. It is no secret that L&T continuously strives to create an enabling work environment that encourages continuous learning, promotes inclusivity and equality and ensures a healthy and safe workplace.
 
Commitments for Future
 
The Company has gone beyond, achieving major goals related to climate change and water security. It aims to 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 are also taking meaningful action and setting ambitious targets in these areas. The first three companies seek to become carbon neutral and water neutral by 2030. LTFH’s target is to become water neutral by 2022 and carbon neutral by 2035.

Comments

There are no comments for this post.