Corporate social responsibility is an important mark of a well rounded and responsible organization and Reliance Industries has proved that they are the top of the hierarchy in both financial as well as social matters .A recent report by Hong Kong based brokerage firm CLSA has shown that industries like Reliance and ITC have the highest rating in Asia for their corporate social responsibility.
The ‘Ethical Asia’ report analyses the Corporate Social Responsibility efforts by over 50 companies in Asia and ranks them according to their performance. In a scale of 1 to 5, 5 being the highest, CLSA has given both ITC and RIL the rating of 5 points. There were 7 Indian corporate that were a part of this report and the average rating for the entire country was at 3.7. These ratings are based on various benchmarks like environmental impact, social impact, corporate governance and the transparency and level of detail in the CSR report presented by the company. Mukesh Ambani’s Reliance Industries is amongst the only 4 companies in Asia who have received a full rating of 5 points.
Social responsibility is at the crux of Reliance’s corporate plan and Mr. Mukesh Ambani has ensured that he takes steps to give back to the society and contribute towards its betterment. Over the course of the years that Reliance Industries has been functioning, Mr. Mukesh Ambani has organized various medical camps and funded charitable organizations which will help provide for the society as a whole. Mr. Mukesh Ambani aims to reduce the divide between the rich and the poor by creating more opportunities for the lesser privileged.
Concrete data and back up proof was one of the primary reasons why RIL received top ranking for their CSR efforts. This initiative is a great proof of top conglomerates aiming to give back to the society and extinguishing claims of the rich being greedy.