Managing corporate responsibility is part of the daily management and development of business operations at L&T, and it is controlled via strategic and annual planning and the company’s management system. L&T’s management system has been certified in accordance with the ISO 9001, ISO 14001 and OHSAS 18001 standards.
Corporate responsibility steering group steers and monitors the achievement of goals
L&T’s Group Executive Board is responsible for the strategic management of corporate responsibility, and operational measures are guided by the corporate responsibility programme. The implementation of the corporate responsibility programme is managed and monitored by a dedicated corporate responsibility steering group, which is chaired by the President and CEO.
The corporate responsibility programme specifies key responsibility themes and related objectives in accordance with a materiality analysis based on stakeholder interaction and a stakeholder survey.
Responsibility is everyone’s concern
Of the policies that guide L&T’s operations, the Board of Directors approves the risk management policy, insurance policy, disclosure policy and financial policy. The Board also approves the Code of Conduct. The Group Executive Board approves the environmental policy, personnel policy, communications policy, procurement principles and occupational safety management principles. The policies are presented on the Code of Conduct page.
The communications organisation is in charge of practical coordination and reporting of the responsibility work. The corporate and occupational safety organisation is in charge of corporate and occupational safety management. Each business division is responsible for responsibility issues and regulatory compliance in their operations. Each L&T employee has an obligation to perform their duties in compliance with the principles regarding responsibility.
EVERYTHING WE DO IN A SINGLE REPORT
L&T has annually reported corporate responsibility-related issues as a part of its annual report with the use of the reporting instructions of Global Reporting Initiative (GRI) as of 2010. As of 2013, the report is only published online.
The contents of the corporate responsibility report are based on the annually reviewed materiality analysis, emphasising viewpoints related to the environment, staff, and sociological questions. Key environmental responsibility indicators are certified by an independent third party.