Transitioning to a greener and lower-carbon economy while pushing growth is tough for the world’s developing nations, caught in a “quagmire” to quickly industrialize and urbanize, but often with adverse environmental impacts, says S. N. Subrahmanyan, a civil engineer and, since 2017, CEO of Mumbai-based engineer-contractor Larsen & Toubro Ltd.
With the trend boosting need for environmental services, the firm debuts at No. 3 on this year’s Top 200—reporting $4.83 billion in that revenue in its latest financial year, 30% of its corporate total. The firm says about 35% of the environmental revenue is from work mostly in renewable energ, and also air quality, and 32% in water infrastructure.