Reliance Foundation, an Indian philanthropic initiative which was founded in 2000 by Dhirubhai Ambani, has been one of the largest private foundations in the country to be a top spender in the direction of CSR.
“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,” the annual report revealed. The company held an impressive profile of CSR spends, including Rs 771 Crore towards Corporate Social Responsibility last year.
“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,” the report revealed.
“At Reliance Foundation, our vision is to build an inclusive India by pioneering a holistic model to address our nation’s multifaceted development challenges, and contribute to its collective aspirations. Central to our philosophy is the commitment to enhance the quality of life of people from marginalized and vulnerable communities, by empowering them and catalyzing change through innovative and sustainable solutions. Our constant endeavor is to create replicable and scalable models of development through an integrated approach in the true Reliance spirit of maximizing societal value for all, and making it a movement.”
Reliance Foundation has actively initiated funding in the areas of Rural Transformation, Health, and Education, Sports for Development, Disaster Response, Arts, Culture and Heritage. Their urban renewal energy with the Sustainable Development Goals (SDGs) are outlined in the United Nations 2030 Agenda for Sustainable Development and India’s National Developmental Goals.
Reliance Foundation CSR goals and policies clearly define the vision, mission, and key action areas as per the Schedule VII of Section 135 of the Companies Act, 2013 which aims to deploy their CSR funds and implement programmes for social development. Its social initiatives mainly emphasize on its strategy, which is direct engagement with the community, forging partnerships and collaborations, and leveraging technology.
Reliance has been actively involved in addressing the nation’s multiple development challenges, including transforming the lives of 26 million people and more. It aims to facilitate the social, economic and environmental progress through judicious concentration of its CSR spends.