New Delhi: Larsen & Toubro (L&T) on Monday announced securing a Sustainability-Linked Trade Facility (SLTF) worth USD 700 million from Standard Chartered.
The SLTF is tied to specified key performance indicators (KPI) such as the intensity of greenhouse gas emissions and fresh-water withdrawal, and targets that are crucial to L&T's business operations.
It is also aligned with the Loan Market Association's Sustainability-Linked Loan Principles, ensuring adherence to market standards for sustainability-linked financing, L&T said in a statement.
Having issued India’s first listed sustainability-linked bond, for USD 60 million, under SEBI's ESG Bond Framework in June this year, L&T has now secured an SLTF worth USD 700 million with Standard Chartered, the company said.
Larsen & Toubro (L&T) is a USD 30 billion Indian multinational engaged in EPC projects, hi-tech manufacturing, and services, operating across multiple geographies.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)