L&T Finance Ltd. Join the Partnership for Carbon Accounting Financial Financial Financial Relations (PCAF)

L&T Finance Ltd. (LTF), one of the leading non-banking financial companies (NBFCs) in the country, is pleased to join the Partnership for Carbon Accounting Financials (PCAF).

This initiative reflects LTF’s comprehensive sustainability strategy

With this initiative, LTF has demonstrated its leadership in climate accountability by being one of the early adopters in the NBFC sector and the banking, financial services and insurance (BFSI) industry to disclose and measure its financed emissions using the PCAF methodology for its select retail portfolio. By formally becoming a PCAF signatory, the Company aims to further improve its carbon accounting and align its disclosures more closely with evolving global standards.

Mrs. Apurva Rathod, Company Secretary and Chief Sustainability Officer at LTF said, “India is at an important juncture in climate transition, with ambitious goals of achieving net-zero emissions by 2070 and reducing the economy’s emissions intensity. We believe that financial institutions play a key role in enabling this transition by measuring, managing and mitigating financed emissions. By becoming a PCAF signatory, we at LTF reinforce our commitment to transparency and improved disclosures in line with global standards. We will continue to refine and align our reporting with PCAF best practices and strengthen our role in decarbonisation. “This commitment is also part of our broader sustainability strategy, ensuring a data-driven approach to help manage climate risks and opportunities.”

LTF’s Scope 1 and 2 emissions, i.e. direct and indirect greenhouse gas (GHG) emissions, have steadily declined on a year-on-year basis since the 2021-22 financial year. The Company uses energy-saving equipment and undertakes energy assessments of its facilities to ensure optimal energy consumption. About 39% of LTF operations are powered by green energy.

To increase carbon sinks, the company has invested in ‘Project Prakruti’ and planted more than 1 lakh saplings in the financial year 2024-2025. LTF has also earned 14064-2:2019 certification for its Miyawaki plantation and carbon sequestration efforts, demonstrating adherence to international best practices. The plantation also contributed significantly to the support of local biodiversity.

In addition, the Company has taken various measures to reduce water consumption in its operations such as sensor-based faucets, water-saving faucets and water recycling through Sewage Treatment Plants (STP) at corporate office. Furthermore, the Company has implemented significant water conservation initiatives outside of its operations, such as the construction of rainwater harvesting structures in drought-stricken regions. Thus, replenishes more than 50 times the water consumed in its operations back to society. LTF is taking various initiatives to ensure that it achieves its carbon neutrality target by 2035, and also helps to achieve and maintain its water surplus targets over the years.

More about L&T Finance Ltd (LTF)

L&T Finance Ltd. (LTF) (https://www.LTFINANCE.com), Formerly known as L&T Finance Holdings Ltd., (LTFH) is a leading non-banking financial company (NBFC), offering a range of financial products and services. Headquartered in Mumbai, the company has been rated ‘AAA’ – the highest credit rating for NBFCs – by four leading rating agencies. It has also received leadership scores and ratings by global and national environmental, social and governance (ESG) rating providers for its sustainability performance. The company is certified as a Great Place To Work® and has also won many prestigious awards for its flagship CSR project – “Digital Sakhi” – which focuses on women’s empowerment and digital and financial inclusion. Under Right to Win, being in the ‘right businesses’ has helped the company become one of the leading financiers in key retail products. The company is focused on creating a top-class, digitally-enabled, retail finance company as part of the Lakshya 2026 plan. The aim is to shift the emphasis from product focus to customer focus and establish a robust retail portfolio with quality assets, thus creating a Fintech@Scale while keeping ESG at the core. Fintech@Scale is one of the pillars of the Company’s strategic roadmap – Lakshya 2026. The Company has around 2.5 Crore customer database, which is leveraged to identify cross-sell, up-sell and new customers.

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About the Partnership for Carbon Accounting Financial Affairs (PCAF)

The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 500 financial institutions have subscribed to the PCAF initiative. PCAF participants work together to jointly develop the Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse gas emissions of their loans and investments. PCAF is a collaboration between financial institutions worldwide to enable harmonized assessments and disclosure of greenhouse gas emissions financed by loans and investments. With more than 500 financial institutions from six continents, the group is expanding rapidly in North America, Latin America, Europe, Africa and Asia Pacific.

For more information see carbonaccountingfinancials.com.