Larsen & Toubro Ltd has “completed the transition” of a $150 million term loan with Bank of America to a Sustainability Linked Loan (SLL), on 30 June 2023. This SLL reiterates L&T’s continued commitment to its Environmental, Social and Governance (ESG) goals.
The facility incorporates interest rate adjustments 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, according to a press release from the company.
These targets have been selected on the basis that they are core and material to the company’s business and the loan is in line with the Sustainability Linked Loan Principles. 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.
On Monday morning, L&T’s share of face value of ₹2, was quoting at ₹2,454.50.