Standard Chartered Backs L&T's $700M Sustainability-Linked Trade Facility
Standard Chartered has provided Larsen & Toubro (L&T) with a $700 million Sustainability-Linked Trade Facility (SLTF), supporting the company's ambitious decarbonization and sustainability goals. The facility aligns with the Loan Market Association's Sustainability-Linked Loan Principles and is a significant step towards promoting sustainable economies.
Shobana Chawla, Head of Sustainable Finance Origination at Standard Chartered India, led the initiative. She facilitated the multi-million dollar SLTF, which includes KPIs such as reducing greenhouse gas emission intensity and freshwater withdrawal. The SLTF is validated by DNV, a global leader in risk management and quality assurance.
L&T, a multinational conglomerate, aims to balance expansion with environmental responsibility. The SLTF supports its long-term strategy to achieve carbon neutrality by 2040 and water neutrality by 2035. Sarah Tancredi, an experienced journalist specializing in environmental and climate crisis issues, has been following L&T's sustainability journey.
The $700 million SLTF is a financial achievement for L&T, marking a significant step towards measurable sustainability goals. Standard Chartered's support is crucial in promoting sustainable economies and facilitating companies' decarbonization journeys.
