A LEGACY OF
EXCELLENCE
Every aspect of L&T’s businesses is characterised by professionalism and high standards of corporate governance.
- Sustainability
- Governance
HIGHLIGHTS OF FY 2023-24
Governance & Ethics
New joinees trained on CoC
Customer Centricity
Customer satisfaction score out of 10
Data Privacy & Cyber Security
Cases of data breaches
Sustainable Supply Chain
Sustainable sourcing by value
Sustainable Supply Chain
of top 200 supply chain partners assessed on ESG
Brand Management & ESG RatingsRanked 3rd in ‘Top 200
Environmental Firms’
in 2024
Rated ‘B’
for Climate Change 2024
COMMITTEES
Chaired by an Independent Director, the CSR & Sustainability Committee, a Board level Committee, is the top decision-making body driving the Sustainability agenda of the Company. In addition to this, there are other board level committees - Audit Committee, Nomination and Remuneration Committee, Stakeholders’ Relationship Committee and Board Risk Management Committee - which help drive actions in their respective areas. The Committees meet periodically to review the performance of the Company in relevant areas.
COUNCILS
In addition to Board level Committees, various Councils/Committees designated with specific responsibilities have also been constituted for operationalizing the plans related to sustainability across the Company. Key Committees/Councils involved are: Executive Committee, EHS Council, Material Council, Green Campus Taskforce.
Policies
L&T’s approach to Corporate Governance is built on a rich legacy of fair and transparent governance and disclosure practices, many of which were in existence even before they were mandated by legislation. The Company’s essential character is rooted in values based on transparency, integrity, professionalism and accountability. At the highest level, the Company continuously endeavours to improve upon these aspects and adopts innovative approaches towards protecting resources, fostering healthy growth and development of talent through empowerment and motivation, and caring for our environment and communities.
CERTIFICATIONS
Processes and Systems help in implementation of Policies and keep evolving/updated to incorporate the changes happening in the internal or external environment. L&T believes external certification of these processes and systems help not only meet regulatory or industry requirements and customer expectations, but also help in continuous improvement and maintain a competitive advantage. Such certifications are obtained against globally recognized standards e.g., ISO, SAI, SSAE etc. and obtained through third-party audit agencies e.g., Deloitte Haskins & Sells LLP, DNV India, TUV-Nord, LRQA.
SUSTAINABILITY DATA ASSURANCE
The Business Responsibility and Sustainability Report (BRSR) format was initially introduced in May 2021, which included reporting of more than 100 KPIs across Environment, Social and Governance. In July 2023, the Securities and Exchange Board of India (SEBI) introduced mandatory disclosure under ‘BRSR Core’ for certain listed companies in India. BRSR Core parameters comprise environmental, social, and financial KPIs. SEBI has also mandated that the top 150 listed entities undergo reasonable assurance by a third party. Reasonable assurance involves understanding systems and controls in place for capturing sustainability performance data used in the preparation of the disclosures, testing of data, records and relevant documentation, analysis and review of key data management systems, processes, and procedures relating to collation, aggregation, validation and reporting of the sustainability information. For details, please refer to the Assurance Statement in BRSR of Integrated Annual Report FY 2023-24.