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L&T debuts at No.3 spot in ENR's 2022 'Top 200 Environmental Firms' list

Posted On : 2022-08-02 12:27:48( TIMEZONE : IST )

L&T debuts at No.3 spot in ENR's 2022 'Top 200 Environmental Firms' list

Larsen & Toubro (L&T), an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services, has ranked No.3 in the 'Top 200 Environmental Firms' list for 2022 released by Engineering News-Record (ENR), New York. L&T is the only Indian firm in this list, with pro environmental revenues of USD 4.83 billion in 2021, accounting for 30% of the company's total revenues.

In terms of ENR's segmentation of the sector-wise share of the companies' revenues, L&T has ranked No.3 in both the lists of projects pertaining to Air Quality / Clean Energy and Water Treatment/Supply. While L&T earned total pro environmental revenues of USD 4.83 billion in 2021, the projects from these two categories accounted for 67% of that.

The other notable aspect is that in terms of client-wise segmentation of revenues, L&T ranks No.1 when its client is Federal Government and No.2 when its clients are State/Local Governments. In all, 94% of L&T's revenues are sourced from clients who are Federal Government and State / Local Governments. This is reflective of the fact that L&T's pro environmental revenues are largely aligned to and driven by the government's commitment to promote environment-friendly practices.

Commenting on the development, Mr. S N Subrahmanyan, CEO & MD, L&T, said, "Over the years, true to our commitment to reduce the carbon footprint, we have made substantial investments to create a clean, green and sustainable future. It definitely feels nice when our efforts get recognised internationally. What is even more special is the fact that we came third when pro environmental revenues account for about a third of our total revenues, whereas the corresponding figures for the first and send rank-holders are 100% and 51% respectively. So, we have plenty of headroom to go up the international rankings in the coming years. Our efforts to promote Green Hydrogen and its linkage technologies will definitely add momentum to this."

As part of its ESG commitments, L&T has pledged to achieve Water Neutrality by 2035 and Carbon Neutrality by 2040. L&T's climate change, energy efficiency and renewable energy programmes are aligned with the National Action Plan on Climate Change (NAPCC), released by the Government of India. The Company's programmes are also being aligned to the Nationally Determined Contributions (NDCs) ratified by the Government of India during the COP 21 - Paris Agreement.

One of the world's most authoritative publications covering construction industry affairs, ENR has been providing a comprehensive coverage of news, analysis, data and opinion for the construction industry worldwide since 1917.

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 1814.20 as compared to the previous close of Rs. 1807.65. The total number of shares traded during the day was 1037236 in over 3568 trades.

The stock hit an intraday high of Rs. 1817.25 and intraday low of 1790.00. The net turnover during the day was Rs. 1875234726.00.

Source : Equity Bulls


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