This sustainability linked loan underscores L&T's continued commitment to its environmental, social and governance (ESG) goals.
The facility incorporates interest rate reductions linked to the achievement of two of L&T's predetermined sustainability targets - the reduction of greenhouse gas emission intensity and water consumption intensity against the target levels. These targets have been selected on the basis that they are relevant and material to the company's overarching sustainability position and strategy. The loan fulfilled the core requirements under the
Commenting on the successful closure of the SLL, Mr. R Shankar Raman, Group CFO & Whole Time Director of L&T, said 'L&T continues to focus on achieving Water Neutrality by 2035 and Carbon Neutrality by 2040. Our long-term strategic plan also clearly outlines the ESG roadmap towards this goal. This SLL transaction with SMBC is an important step in that journey and underlines our intent on the ESG front.'
Mr. Toshitake Funaki, CEO of SMBC India, said 'This transaction supports
Background:
For further information, please contact:
Ketan.Bondre@larsentoubro.com
Tel: +91 22 66965237
AmitBiswas@larsentoubro.com
(C) 2022 Electronic News Publishing, source