L&T aims to become carbon neutral by 2040 and here's how
- The company aims to achieve carbon neutrality by 2040, ahead of the Paris Agreement deadline of 2050.
- Currently, more than 10% of the total electricity consumed by the company comes from renewable sources.
- Its key subsidiaries will meet the net zero target up to 2035.
The company aims to use less fossil fuels and in turn commits to plant 1 million trees every year.
L&T's subsidiaries such as Mindtree, L&T Infotech (LTI), L&T Technologies (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.
|Measures to become carbon neutral|
|With improved resource efficiency and conservation of vital natural resources|
|Will consume some electricity from renewable sources|
|Aim to use 100% renewable power by 2035|
|Target to use 100% renewable fuels by 2045|
|Tree plantation -- Will plant one million trees per annum|
|L&T’s renewable energy programmes are aligned with the National Action Plan on Climate Change (NAPCC) released by the government|
|Will use technology and innovation to achieve sustainable growth|
AdvertisementOil-to-telecom conglomerate Reliance Industries Limited (RIL) has a target to become carbon neutral by 2035.
The term net zero means achieving a balance between the carbon emitted into the atmosphere, and the carbon removed from it. This balance or net zero will happen when the amount of carbon we add to the atmosphere is no more than the amount removed.
Besides, L&T also aims to achieve water neutrality 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,” said S.N. Subrahmanyan, chief executive officer and managing director, L&T.
SEE ALSO: Paytm may drop its pre-IPO sale as advisors recommend lower valuation
The depth of India’s vaccination drive — Gujarat tops the list, UP and Bihar yet to vaccinate a third of their population
AdvertisementManchester United owners are getting drawn to the world's biggest cricket league – here's why
Popular on BI
- J&K has highest share of 5 per cent budget allocation in health sector across country: LG
- RBI expected to hold rates on uncertainty over new COVID-19 variant
- Best 128GB pen drive in India
- Best 256GB flash drive in India
- Delhi reports first case of the new Omicron COVID-19 strain