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Certainly, it is a future understanding that sustainability could be qualified for sales and financial growth. Of course, early research shows in 2004 that minimum two-third of 25,000 clients in the India, US, Europe and Canada from their different ideas based like a company's profile and ethics, social involvement, and impact on environment. While this was going on, through India 60 percent mature people interviewed told that "having company knowledge is attentive of its impact on the environment and culture makes me more proud to buy company's product and services. On the other hand the 40 percent were saying they would not be buy product if the packaging causes danger to wildlife or environment.
About us Sustainability, the first thing comes to mind to talk "Projects which economic, social and environmental interestsÂ are protected from future damage due to the next generations ". In short," Current steps should not harm the futureÂ resources ". The report presented here about petrochemical industry monitoring systemÂ which is 5-6% of GDP, contributing a total of petrochemical,Â Indian Economy.Â So, reports generates useful dataÂ feedback on current work and organisation required to fulfillÂ Keep in mind that the concept of sustainability objectives.
Meet the new generation is not a sustainable approach, but this approach from eighties has become an important elementÂ corporate and academic agenda.Â While the concept in mind the first question the sustainability of organizations emerged, Sustainability of what?Â This question can be answeredÂ something that affects overall sustainability of the organisation.Â This is not an easy thing.Â So, this is not something thatÂ to start any theory or individual makes differenceÂ sustainability.Â To start this limitation it is difficult to drawÂ sustainability.
For an organisation that start up from sustainability Production department, marketing department or HR department.Â Even if the limits have not been decided difficult because of the application is a measure of success.
A monitoring system for measurement and analysis of stability both a macro and micro development tools, and preferably under taken internally and externally at the level of the country or cannot be applied exclusively Industry, Tourism andÂ various other companies.Â The main components of a good monitoring system to establish a good foundation and a systematic approach to monitoring that both qualitative and quantitative and descriptive monitoring the environmental, economic and social concerns include balancing allows, external and internalÂ Control (Dalal-Clayton and Bass, 2002).
Various frameworks are available for use in monitoring sustainable development. Different arrangements apply greater economic, environmental or social dimensions of access and in some cases special arrangements are tailored for specific industries like chemical industry (Krajink and Glavic, 2005).
General information about this report, RIL (Reliance Industries Limited), providing with projections on the cultural, economic and environmental affecting the sustainable growth size as in terms of different dimensions.Â In Moreover, the limitations related to size and other views were determined.Â As a result, an analysis has already applied the indicators for the implementation of certain recommendations by RIL.
2. RIL Profile
The reliance is India's biggest private sector company, with mainly business of chemical polymer, and energy material, based on Jamnagar, Gujarat. The Reliance is a fortune 500 company with annual revenues over US$ 44 billion.
Reliance has started this empire with a small business of textile in seventies. After that, Reliance has never seen back and multiply the all businesses like, polyester, fiber, plastics and petrochemicals. Reliance has also showed growth in oil and gas exploration along with the energy value chain materials.
In early eighties India had introduced special economic zones under which a manufacturer do not need to pay a tax so, the product will be very cheap to the consumer. Reliance had shifted almost all its manufacturer to SEZ.
With phenomenal growth of over two decades now, Reliance is largest producer of fiber and polyester as well as top five producers of petrochemical products.
Major Group Companies are Reliance Industries Limited (including main subsidiary Reliance Retail Limited)
2.1 Production and Distribution
The company's major products are integrated and synergies mainly from oil and gas through company. Company is now providing or producing large amount of raw material such as PTA, MEG, ethylene, propylene. Company was paying very high cost of this raw material before but now the sources are within company subject to vertical growth of company.
Company's operating margins and interest cost are decreased along with market exposure and raw material price by positive effects. The company is remain leader in domestic market with major product line and benefits with this strategy.
The Company's operations can be classified into four segments namely:
Petroleum Refining and Marketing business
Oil and Gas Exploration & Production business
2.2 RIL Health, Safety and Environment
Reliance is been taking care of health, safety and environment within company along with outside. Reliance has never under monitoring system from any government organisation. RIL has its own monitoring system within the company, starting from employee, plant, projects, material, sales and others. RIL is very careful about safety and environment.
Specialized tests like biological monitoring, health risk assessment studies and audits for exposure to various materials are also performed. Health education and awareness form an integral part of the health care programmed at Reliance.
Reliance believes that a clean environment in and around the workplace promotes health and prosperity for the individual, group and higher their community.Â The environmental protection is an integral part part of planning, design, construction, operation and maintenance of all our projects.
2.3 RIL: Social Responsibilities and Commitment
Reliance has to construct a carefully workplace that actively promotes professional and personal development.Â You have the freedom to explore and learn, and there are opportunities that inspire initiative and intrinsic incentives.Â We believe that people have the dream to achieve it
dreams drive the company's excellence in all businesses. Reliance thinks, behaves, lives and develop a global mindset encourage all employees to reach their full potential value opportunities through the group.
Reliance has large scale development of employee skills, drinking water plants, health and education tied together by bigger communities and physically strong traditions.
Shri Mukesh D. Ambani announced the launch of 'The Reliance Foundation' in November 2009. "I strongly believe that we can, and should do, much more. I also believe that this effort has to bring into play RIL's strengths of strategic planning, meticulous detailing and flawless execution on a large format".
This Reliance Foundation is thinking and implementing the Indian ground level development like rural development, protect and make remain India's history, culture with pride, high-quality health-care and of course maintain the environment.
3. RIL's Sustainability Reporting Initiative
"We have embraced sustainability as our core business strategy. We believe sustainability is the very foundation of lasting success. We will use sustainability principles to drive process innovation, new product development, improving manufacturing efficiencies and reducing material and energy consumption. This commitment is backed by active initiatives on the ground".
Mukesh D. Ambani
From FY 2004-05 RIL's all sustainability report are assured and checked by GRI, commencing yearly from triple-bottom performance.
RIL's first report was based on globally accepted Global Reporting Initiative's (GRI) Guidelines (2002), from Indian Oil & Gas sector, named 'LIFE'. The next report was out in October 2006 by GRI again with new bunch of sustainability based on G-3.
In addition, with the 2006-07 fiscal, in addition to the GRI G3 guidelines for reference, RIL
applies to the American Petroleum Institute / International Petroleum Industry Environmental Conservation Association at (API / IPIECA) Principles and the Global Compact of the United Nations (UNGC) principles and joined in the field of sustainable development, "Focus
Areas' of the World Business Council for Sustainable Development (WBCSD). RIL formulates its sustainability vision, mission and values, Strategies for sustainable development and the road map in its report for the fiscal 2007-08.
Title of the Sustainability Report
GRI Application Levels
Transforming Life, Redefining Tomorrow
GRI Checked A+
Small Acts, Big Impact
GRI Checked A+
My Reliance, My Life
GRI Checked A+
RIL is an organisational stakeholder of GRI since 2007.
On invitation to Shri Mukesh Ambani, Reliance Industries Limited became a Council Member of World Business Council for Sustainable Development (WBCSD) in 2007. Shri Mukesh Ambani has been elected as Vice Chairman of WBCSD's Executive Committee in 2008.
Amongst 'India's 10 largest companies by market capitalisation', International Finance Corporation (IFC) [Word Bank Group] has rated RIL's Sustainability Report's reporting quality as "good" - the highest rating given in this report, in 2009.
4. RIL's Sustainability Dimension:
The company's report usually follows the triple bottom line concept. In which economic, social and environmental dimensions are used. This will helps the company to measure the growth in broader prospects. The focus of this is mainly on non-financial issues and concentrating more on social and environmental issues.
Reliance Industries Limited being the large scale industry has concentrate on the sustainability dimensions carefully.
4.1 Economic Dimension:
The company has extended its boundaries by providing petroleum products to 108 countries and contributing 13% of total export industries in India. Indian economy has been benefited due to the growth of this company. The economic growth of the company increases due to the introducing of new plants in the system. Being the highest tax paying organisation its Return on Equity is also higher.
The dimensions for the economic development of the company are
Revenue generated by sales
Cost of Employees
Return on Equity
Profit gained by production
4.2 Environmental Dimensions:
To regulate the environmental dimensions for the company a separate department is being formed. They perform their work of regulating the monitoring program from the initial day of construction. For every new project company initially checks the risks that its project causing to the environment. Then according to the report generated it will undertake the methods for reducing the risk to the environment
Following are the environmental dimensions used:
Expenses on Health and Safety
Recycling the material
Energy that is renewable
Emissions which are direct or indirect
Management of waste
Emission of Greenhouse gas
4.3 Social Dimension:
Reliance Industry Limited has various social responsibilities towards their plants. Social responsibility with respect to providing relief funds to people who are living in areas where there are famines, droughts etc.
Various foundations that are introduce are Shri HN medical research and society, Jamnaben Hirachand Ambani Foundation etc which helps in achieving the social dimensions for the company.
The social dimensions are:
Providing Health care centres
Providing educational institutions
Conducting programs for community development
Providing training so that people can earn there own living
Proper distribution of workforce
5.1 Economic indicator:
The financial statement of an organisation is necessary in to understand the sustainability in terms of economic dimensions.
The following table shows the company's balance sheet and the profit and losses the company incur.
(amount in crores/Rs)
Mar ' 10
Mar ' 09
Mar ' 08
Mar ' 07
Mar ' 06
Sources of funds
Equity share capital
Share application money
Preference share capital
Reserves & surplus
Profit and Loss account (amount in crores/Rs)
Mar ' 10
Mar ' 09
Mar ' 08
Mar ' 07
Mar ' 06
Cost of sales
5.2 Environmental indicator:
When toluene is burned it releases toxic chemicals in to the air
cleaner replacement for toluene is used
Ongoing research and development to monitor
Production of Polyester
Due to this large number of waste is produce and is not disposable
Come up with largest polyester recycling centre to utilize the waste in stuffing and filling.
They have won the award in the team excellence competition.
Reduce water wastage
Reverse osmosis plant is set up to deal with this issue
Water is reused for horticulture purpose, cooling towers etc
The desalinated water is saved and properly monitored.
5.3 Social indicator
Under-developed village life where there is improper supply of water, under developed infrastructure.
Reliance Rural Development Trust has undertaken 13,000 village development projects.
The project has developed proper cement roads and proper facilities for people
Illiteracy rate in the suburbs increased
Network of 10 schools had been introduced.
Underprivileged students have been help because of these institutions.
Conditions of the people have been improved.
Physically challenged children
Female underprivileged students have been left alone.
Hostels for these students have been introduced.
These hostel standards have been improved
The monitoring and indicator system that is develop in order to get the overall view of the company. ThisÂ let us understand how effective the company is workingÂ towards sustainability. The sustainability in terms of Environment, Social and EconomicÂ are categorisedÂ so that every step that company takes for development can be segregated. This way it is easy to understand contributions that are put forward in order to reach our goal of sustainability.
Various challenges that developing countries face are illiteracy, lower standards of living, natural calamities etc. The companies should consider their situation and should take steps to improve their conditions.
RelianceÂ Industries Limited being the large scale company is contributing in ont only Indian economy but also putting their efforts in improving the condition of the country. This will help the country to sustain in adherse condition.