RIL’s Corporate Sustainability Report Fetches It GRI+A Rating Once Again
The Global Reporting Initiative awarded RIL(Reliance Industries Limited) A+ Rating for its sustainability report 2011-2012. It offered the company the highest application level on sustainability reporting for seventh year consecutively. Besides, it is the first company in India to comply with the GRI 3.1 Oil & Gas Sector Supplement issued in February 2012.
This report with the title‘Partnering India’s New Future Sustainably’was presented to GRI, Amsterdam for the basic submission level check as indicated by the New GRI 3.1 Guidelines. Besides, the American Petroleum Institute and International Petroleum Industry Environmental Conservation Association had laid down certain guidelines, whichwill have to be considered for the same. The report also had to abide by the National Voluntary Guidelines for Social Environmental and Economic Responsibilities of Business drafted in November 2011 by the Ministry of Corporate Affairs, Government of India.
RIL was honored with this rating for the discipline it exhibited with respect to adhering to the guidelines. Besides, this conglomerate has constantly worked towards allocating adequate resources towards effective environmental management comprehending with the responsibility of the product. It has also endeavored towards the building of social institutions, which is a prerequisite for winning this rating.
Corporate Sustainability has recently gained a lot of attention considering the environmental challenges we are prone to and is hence devised as an antidote to the notion that the proliferating corporate phenomenamay serve as a threat to the environment. Corporate Sustainability caters to formulating a business system that entails long-term value for consumers and employees over there. It does not merely revolve around inventing green strategies. Every aspect of the business has to cater to a social, cultural, and economic environment. RIL is India‘s largest private sector enterprise and the second largest by revenue. All these years, it has successfully set an example to the corporate world with its principles and working system being concurrentwith the environment’s sustainability.
The Global Reporting Initiative is anNGO with the objective of advocating economic sustainability. The standards that it produces including Environmental Social Governance (ESG), Triple Bottom Line (TBL), Ecological Footprint Reporting, and Corporate Social Responsibility(CSR) reporting are highly acknowledged. It has been successful in making sustainability reporting an imperative part of the working of an organization. Last year, the GRI awarded RIL the Application level A+ certification for its report titled ‘New Business. New Technologies. New Partnerships.’
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