Larsen & Toubro Ltd (L&T) might be investing up to Rs 5,000 crore to implement and adopt green vitality into its manufacturing and building websites to achieve carbon and water neutrality targets by 2035-2040. We have now set out a path of implementing these ESG initiatives in some of our project sites and manufacturing locations. This could be anywhere between Rs 1,000 and Rs -5,000 crore of transitionary investments we might have to do as a group to achieve 2035-2040 goals that we have set for ourselves,” mentioned the corporate’s chief monetary officer, Shankar Raman. The firm is within the technique of creating a sustainability roadmap for FY22 to FY26 aligned with its ‘Lakshya 2026’ targets. In phrases of discount of Co2 the corporate has set a goal to enhance the utilization of renewable energy by 50% by FY26 and 100% by 2035 in its operations.
Renewable power across campuses and sites will be increased by 50% by 2026 and essentially solar will be the main source of achieving this. In terms of reduction of Co2 the company has set a target to increase the usage of renewable power by 50 percent by FY26 and 100 percent by 2035 in its operations. The company is also planning to use some bio-fuels and evaluating setting up a green hydrogen plant in Hazira by the end of FY22. It aims to improve its energy efficiency by 2.5 percent per annum for Scope 1 (Phase-1) and two percent per annum for Scope 2 (Phase-2). The company is also adopting electric vehicles (EVs) on their campuses and looking to replace all its IC (Internal Combustion Engine) vehicles with EV vehicles.