Larsen & Toubro Spent Rs. 154.83 Cr. for CSR in FY24
L&T is synonymous with large infrastructure projects in India. Be it Highways, Power Plants, Weapons, Nuclear Power Plants, Metros or for that matter World’s Tallest Statue – The Statue of Unity in Vadodara, Gujarat, Larsen and Toubro has made India proud for years.
L&T is a conglomerate with a major presence in engineering, construction, technology, manufacturing and financial services with operation across the globe. With over 8 decades of corporate existence, the company takes pride in its sustainable operations. Larsen and Toubro’s integrated approach towards sustainability in its operations has bestowed them with accolades at various sustainability awards.
1. CSR at Larsen & Toubro
Larsen and Toubro has always given importance to the impact they have on society through their operations. Considering that the company touches so many facets of lives in India, they have ensured inclusive growth of the community around which it operates.
Building on over eight decades of social responsibility activities, the Company contributes to inclusive growth by empowering communities and accelerating development through interventions in four core areas of water & sanitation, health, education and skill development.
It runs a special volunteering program called – L&T-eering, which encourages and empowers employees to contribute towards social issues and development of the community. The employees’ wives and female employees are also involved in the CSR works of Larsen and Toubro and run the Prayas Trust, driving CSR initiatives in their own capacity and reaching out to remote communities.
The Company’s Integrated Community Development Programmes (ICDP) which was initiated 10 years ago, helps in building resilience in rural communities, especially in remote water-scarce locations of Maharashtra, Tamil Nadu and Rajasthan covering an area of about 43,091 hectares. The Company is scaling up and replicating these models in other locations. In all ICDP locations, the water table has risen by an average of 8 meters from the baseline benefitting nearly 25,000 households. Through these consistent efforts, the Company aims to improve quality of life, reduce social inequalities, promote self-sufficiency, and empower individuals in vulnerable and marginalised communities.
In the recent years, L&T consolidated its CSR programmes with a focus on certain development areas that align with the global and national development agenda which has led to improved focus and a profound impact in the thematic areas where the company operates.
In FY2023-24, the Company spent Rs. 154.83 Cr., impacting the lives of over 16 lakh beneficiaries. The Company aims to extend its reach to over 17 lakh beneficiaries by FY25.
The Company’s CSR programmes are based on the theme ‘Building India’s Social Infrastructure’. L & T CSR’s objective is to contribute positively to society, improve the quality of life, provide sustainable solutions and make a meaningful impact. The CSR interventions of Larsen and Toubro are based on the CSR Policy and are in line with the Companies Act 2013 and CSR Rules 2014.
2. CSR Policy
Larsen & Toubro Limited fosters a culture of caring, trust and continuous learning while meeting the expectations of all stakeholders and society at large. As a responsible Corporate Citizen, the Company contributes to inclusive growth by empowering communities and accelerating development.
The Company’s CSR Policy framework details the mechanisms for undertaking various programmes in accordance with section 135 of the Companies Act 2013 for the benefit of the community.
2.1 CSR Committee
The CSR Governance structure comprises of the Board, CSR Committee, Apex Sustainability & CSR (SCSR) team, IC SCSR Teams and Unit SCSR Teams.
Responsibility of the CSR Committee:
– Formulate and recommend the CSR Policy to the Board for approval
– Monitor the Policy from time to time
– Recommend the amount of expenditure to be incurred on CSR programmes
– Constitute a transparent monitoring mechanism for ensuring implementation of the CSR programme
– Allocate the programmes to the Independent Companies (‘IC’s) / Corporate to implement the same.
3. Integrated Community Development Program
Larsen & Toubro’s (L&T) has initiated its flagship initiative known as Integrated Community Development Programme (ICDP) with an aim to addressing water scarcity in certain water stressed areas. The program was launched in 2014-15 in Rajasthan, Maharashtra, and Tamil Nadu, with special focus on five locations. The major components of the program included need assessment, community mobilisation, infrastructure construction, sanitation, and the promotion of sustainable agricultural practices.
The idea behind ICDP is to empower local communities and to help them manage their resources sustainably, while ensuring long-term benefits even after the project’s completion. Since its inception, the program has made a major impact by benefiting over 26,687 households and treating over 43,091 hectares of land.
Under ICDP, the company extends its support to the community by constructing structures like check dams, anicuts, contour trenches, farm bunds, and farm ponds. This helps in promoting soil and water conservation, rainwater harvesting.
The company also ensures and facilitates community participation along every step of the initiative in order to prioritise long-term sustainability.
4. Education
Morgan Freeman said, ” Literacy could be the ladder out of poverty.” Larsen and Toubro Education CSR interventions work towards fulfilling this dream of eradicating poverty by providing education to each and every child.
4.1. STEM ( Science, Technology, Engineering and Mathematics) interventions by L&T
Larsen and Toubro’s CSR projects in the field of education are focused on ensuring sustainable development of communities and contribute to strengthening education and social infrastructure. These initiatives, which mostly cater to children from 3-18 years belonging to marginalized sections of society, provide support for better learning abilities of young minds and supplement learning in schools.
The projects not only cover academics but also touch various other facets of education which includes nutrition at the pre-primary level, setting up of basic infrastructures such as smart classrooms and soft skills to supplement textbook education. They also help train teachers in STEM education and hence make a difference in the entire education cycle of the child.
In 2018-19, L&T supported more than 400 schools and reached out to over 2.4 lakh children with its education initiatives pan-India.
5. Health – Larsen and Toubro Health CSR interventions
L&T’s CSR programme in the health sector aims at making quality health care services accessible and affordable without anyone having to face financial hardship. LT CSR works in collaboration with the government in the fields of family welfare, Mother and Child Health, HIV-AIDS, Tuberculosis, Blindness Control, Diabetes detection and treatment and reproductive health services.
