RIL's sustainability report gets top ranking for seventh consecutive year
06 August 2012
The Global Reporting Initiative (GRI) has awarded A+ level to RIL's Sustainability Report 2011-12. This is the seventh year in a row RIL has received the highest application level on sustainability reporting. RIL is also the first Indian company to adhere to the GRI 3.1 Oil & Gas Sector Supplement, released in February 2012.
RIL has received the coveted `GRI A+' rating this year for its report titled 'Partnering India's New Future, Sustainably'. The company adheres to all sustainability reporting guidelines and allocates sufficient resources towards its environmental stewardship, product responsibility and social institution building efforts, RIL said in a release.
The report was presented to GRI, Amsterdam, the Netherlands for application level check, as RIL has received the coveted `GRI A+ rating this year in corpoprate sustainability for its report titled 'Partnering India's New Future, Sustainably'.
RIL's report also takes into account guidelines laid down by the American Petroleum Institute and the International Petroleum Industry Environmental Conservation Association.
The report is also aligned with the National Voluntary Guidelines for Social, Environmental and Economic Responsibilities of Business, released by the ministry of corporate affairs, Government of India, in November 2011.
The Global Reporting Initiative (GRI) is a non-profit organisation that promotes economic, environmental and social sustainability. GRI provides all companies and organisations with a comprehensive sustainability reporting framework that is widely used around the world.
Reliance Industries Limited (RIL) is India's largest private sector company on all major financial parameters with a turnover of Rs339,792 crore ($66.8 billion), cash profit of Rs31,994 crore ($6.3 billion) and net profit of Rs20,040 crore ($3.9 billion) as of 31 March 2012.