L&T Secures $700 Million Sustainability-linked Trade Facility

Larsen & Toubro Ltd. on Monday said it had secured a $700-million sustainability-linked trade facility from Standard Chartered. The facility finances trade transactions that have a positive environmental impact or meet other sustainability-linked goals.

The company said the facility is tied to key performance indicators such as greenhouse gas emissions and fresh-water usage. Performance against these KPIs will be disclosed annually and verified by an independent third party to ensure transparency and accountability.

L&T said it remains committed to sustainable business practices, which form part of its long-term strategy. In June, the company issued India’s first domestic listed sustainability-linked bond, worth $60 million.