Mukesh Ambani led Reliance Industries Limited spent Rs. 904 crores on CSR (Corporate Social Responsibility) programmes and projects during the financial year (FY) 2018-19, as per Companies Act, 2013, Annual Report revealed.
Company spent Rs 771 Crore towards Corporate Social Responsibility last year.
Reliance foundation, CSR arm of India’s largest private sector enterprise has touched lives of 26 million people since its inception.
“Empowering the underprivileged, enhancing their access to better amenities and increasing the outreach of community initiatives to 20 million people by 2030 with the minimum CSR expenditure at 2% of the net profit:, report revealed.
CSR activities of the Company are carried out under the aegis of Reliance Foundation (RF). Established in 2010, under the leadership of Smt. Nita M. Ambani, Foundation has emerged as a leading corporate foundation addressing nation’s multiple development challenges. RF has touched the lives of 26 million people through various platforms.
Reliance’s initiatives in the areas of Rural Transformation, Health, Education, Sports for Development, Disaster Response, Arts, Culture and Heritage, and Urban Renewal are in keeping with the Sustainable Development Goals (SDGs) outlined in the United Nations 2030 Agenda for Sustainable Development and India’s National Developmental Goals.
The Company’s CSR policy and initiatives delineates the vision, mission, thrust areas and key requirements as per the Schedule VII of Section 135 of the Companies Act, 2013 which lists out various areas in which corporate entities are expected to deploy their CSR funds and implement programmes for social development.
Its social initiatives are based on a three-pronged strategy – Direct engagement with the Community, Forging Partnerships and Collaborations, and Leveraging Technology.