L&T Finance Ltd. Wins Fintech for Good Award, Championing ESG Initiatives
Champions of ESG: L&T Finance Ltd. Secures Prestigious Award
In a commendable achievement, L&T Finance Ltd. (LTF), one of India's foremost Non-Banking Financial Companies (NBFCs), has been honored with the Fintech for Good - Champions of ESG Award at the Global Fintech Fest 2024 held in Mumbai. This award celebrates companies making significant strides in Environmental, Social, and Governance (ESG) aspects.
Commitment to Sustainable Finance
Since 2018, LTF has embarked on a transformative ESG journey, evolving from basic sustainability disclosures to implementing sustainable practices that align with the United Nations Sustainable Development Goals. LTF's sustainability efforts have included:
- Reduction of greenhouse gas emissions by approximately 18% in FY24.
- Adoption of a Sustainable Finance Framework to bolster social and environmental projects.
- Investments in community well-being, including women empowerment initiatives.
Key Achievements in FY24
In FY24, LTF financed 44,168 electric vehicles, avoiding around 8,266 tCO2e emissions, significantly contributing to environmental sustainability. Their initiatives have empowered over 1.27 lakh community members through Corporate Social Responsibility (CSR) projects, achieving a social convergence value exceeding Rs. 60 crore.
Future-Focused ESG Initiatives
Looking forward, LTF aims to achieve carbon neutrality by FY35, striving to maintain sustainability at the core of its operations. As they continue this journey, LTF is at the forefront of establishing best practices in ESG within the BFSI industry.
For further insights into L&T Finance's ESG strategies and achievements, refer to their official releases and reports.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.