Mr. S N Subrahmanyan, who replaced AM Naik as the CMD of L&T outlined the company’s ESG plans during his inaugural speech at the company’s 79th AGM.
The CMD outlined plans to enhance green energy capacity, encourage the participate of women in the workforce and community development.
He said the company is eyeing opportunities in the green energy sector and is leveraging technologies like AI and IoT to create new opportunities.
“L&T has digitally connected over 15,000 assets across its global projects and manufacturing bases to a central IoT platform. All these initiatives enable the company to make project execution faster, safer, cleaner, economical and more sustainable,” Mr S N Subrahmanyan said.
The renewable energy thrust:
Mr Subrahmanyan outlined various projects the company carried out in FY2023–2024 as part of its For A Better World vision.
These include electrifying over 3,400 track km of mass transit systems, commissioning 2.2 GW of solar capacity, 6.2 GW of nuclear power, 3.5 GW of hydroelectric power, and creating 14.8 million square feet of green buildings.
It must be noted that the company had last year announced its plans to invest $12 billion over the next five years will on green energy.
L&T will also contribute a minimum of $2 billion to its inaugural green hydrogen project as part of the same. With an investment of almost $4 billion, the company hopes to have a capacity of 2-3 million tonnes of green hydrogen and ammonia, Mr Subrahmanyan said.
Women in the workforce and community development:
L&T aims to increase the participation of women employees in the company to 10 percent by FY2025-26. It has launched exclusive career-assisting schemes for females and women-friendly facilities in offices.
The company has benefitted more than 1.6 million people. It has planted 4 million saplings globally and helped build resilience in rural communities through its Integrated community development programme, the CMD said.