Reliance Industries Limited | Council for Inclusive Capitalism

Reliance Industries is India’s largest private sector company, with a consolidated turnover of INR 539,238 crore ($73.8 billion), cash profit of INR 79,828 crore ($10.9 billion), and net profit of INR 53,739 crore ($7.4 billion) for the year ended March 31, 2021. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. Reliance is the top-most ranked company from India to feature in Fortune’s Global 500 list of “World’s Largest Companies”. The company stands 55th in the Forbes Global 2000 rankings of “World’s Largest Public Companies” for 2021 – top-most among Indian companies. It features among LinkedIn’s ‘The Best Companies to Work For In India’ (2021).

Purpose

Building platforms to herald the Fourth Industrial Revolution and create opportunities and avenues for India and all its citizens to realize their true potential.

Mukesh Ambani

Chairman and Managing Director, Reliance Industries Limited

Find out more

We believe it is vital to state clearly to the world the set of our beliefs about Inclusive Capitalism. As such, we start with our Statement of Guiding Principles for Inclusive Capitalism. Knowing that words alone are not enough, each of us is making a series of commitments about how we will operate our institutions so that they help achieve Inclusive Capitalism. These commitments are forward-looking statements based on current goals, expectations and assumptions, which are not guarantees of future performance. For more information, please refer to our Terms of Use

Filter by commitments

View all

People

Planet

Principles of Governance

Prosperity

Summary

Reliance Jio Infocomm Limited (Jio) commits to monitoring and reporting include Scope 1 and 2 GHG emissions, and the progress made year on year on emission reduction to achieve net carbon zero by 2035.

Activities & Initiatives

Reliance aims to become Net Carbon Zero by 2035. In line with this commitment, Jio, its Digital Services business, which is also India's largest telecom services provider with nearly 450 million subscribers, has voluntarily pledged to the Science Based Target initiative (SBTi). SBTi focuses on promoting corporate climate action and encourages companies from all sectors to demonstrate their leadership by committing to set targets and getting their targets validated by the SBTi.

Measures & Targets

SBTi Pledge- Reliance Jio Infocomm Limited (RJIL) committed to setting targets based on 1.5 scenario on 12th September 2019. The Targets submitted are currently being reviewed and validated by SBTi. The metrics being monitored and reported include Scope 1 and 2 GHG emissions, and the progress made year on year on emission reduction to achieve net carbon zero by 2035.

Summary

To achieve net carbon Zero by 2035, Reliance Industries will develop new energy infrastructure and materials by investing INR 15,000 Crore (about USD 2Bn) by 2024 in independent manufacturers, partnerships, and technology and create new jobs.

Activities & Initiatives

Reliance Industries has developed a plan to transition to new energy through a USD10 billion investment and an ambition to enable 100GW of solar energy by 2030. This transition aims to be inclusive and will also include a nearly USD2bn investment in developing a supporting infrastructure of independent manufacturers, partners, and technology tie-ups. This support is also aimed to create thousands of new jobs in the green energy space. Reliance is also repurposing its engineering, project management, and construction division to execute and deliver world class, renewable energy solutions. In addition, RIL will build a dedicated Renewable Energy Project Management and Construction Division and a dedicated Renewable Energy Project Finance Division to further strengthen the ecosystem by connecting thousands of small and medium entrepreneurs with training, skilling, technology, and finance and help create millions of jobs.

Measures & Targets

Develop infrastructure and materials through investments in independent manufacturers, partnerships and technology to the tune of INR 15,000 crore (about USD2 bn) by 2024

Transition Engineering, Project Management, & Construction Division to execute renewable energy projects and solutions

Set up a dedicated Renewable Energy Project Management & Construction Division by 2022

Set up a dedicated Renewable Energy Project Finance Division by 2022.

Summary

As part of Reliance's aims to be Net Carbon Zero by 2035, it will invest NR 60,000 Crore ( USD8bn) into new energy to develop a New Energy project in Jamnagar, including four Giga Factories enabling 100 GW of solar energy by 2030.

Activities & Initiatives

Reliance aims to become Net Carbon Zero by 2035 by doing the following: creating sustainable energy and materials for India’s future needs; building world-scale assets that produce clean fuels and materials of the future; developing next generation carbon capture and storage technologies to convert carbon dioxide into useful products and chemicals; transition from fossil fuel to clean and affordable energy; creating holistic and circular materials businesses; and maximising crude to chemicals conversion. The setting up of the greenfield Giga Factory Complex at an investment of INR 60,000 crore will accelerate Reliance Industries' Net Carbon Zero mission by enabling it to transition to sustainable energy production of a high magnitude. Reliance plans to set up the following Four Giga Factories under this project:

An integrated solar photovoltaic module factory.
An advanced energy storage battery factory -for the storage of intermittent energy
An Electrolyser Factory for production of Green Hydrogen
A Fuel Cell Factory for converting hydrogen into motive and stationary power

Measures & Targets

Reliance Industries aims to build the four giga factories by 2024 at an investment of INR 60,000 Crore (About USD 8bn), and be able to develop 100GW of Solar Energy by 2030 from the project.

Sign up your company

Recognizing it will take alignment of all our organizations to scale impact globally, we invite you to join the movement as a Steward of Inclusive Capitalism. Together, the collective action of Council members will contribute to a fairer, more inclusive and sustainable future for all people and our planet.