L&T forms green energy council to drive carbon neutrality

01 Jun 2023 CW Team

L&T stated that it had constituted a four-member think-tank called the L&T Green Energy Council, consisting of global leaders. They mentioned that the council would strengthen their commitment to achieving carbon neutrality by 2040 and would be responsible for identifying technology trends in green energy, analysing evolving global policy developments, evaluating emerging business models, and providing advice on collaborations.

The CEO and Managing Director of L&T, SN Subrahmanyan, stated that the council would serve as a powerhouse of expertise and strategic guidance as they strengthened their commitment to building a world-class green energy business.

According to Subramanian Sarma, Senior Executive Vice President (Energy) of L&T, all four members were well-acquainted with the green energy sector, having delegated and chaired organizations such as the European Solar Manufacturing Council and International Energy Agency.

L&T, the $23 billion Indian multinational firm, had set a target of achieving carbon neutrality by 2040 and had already initiated investments in green hydrogen project development/EPC, electrolyzer manufacturing, and battery cell manufacturing.

The L&T scrip had ended at Rs 2223.90, up 0.27 per cent on the BSE on Monday, while the benchmark Sensex had ended 0.55 per cent higher.

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