Reliance Foundation is a philanthropic arm of the mammoth conglomerate, Reliance Industries Limited. Founded by Nita Ambani back in 2010, the Foundation strives to work for the enrichment of the lives of people who have not been focused upon to the extent needed. The many initiatives of the nonprofit organization have sought to enhance the livelihood opportunities and to provide relevant and useful information for the rural community. Reliance Industries, as a whole, has always been cognizant of the fact that giving back to the society was a vital aspect of any leading company of a country, one which they have repeatedly accomplished. The Golden Peacock Award that they were bestowed upon was just another recognition of their efforts.
Corporate Social Responsibility-
This is basically a business approach that is undertaken by major corporations of the world in order to contribute to the sustainable development of the society. It does so by delivering economic, social and environmental benefits for all. It is implemented by different corporations in a different manner, which has different levels of impact. But the underlining factor is that it is a broad concept that focuses on several parameters such as human rights, health and safety, environment, economic development, etc. The goal is to drive change towards sustainability.
Golden Peacock Award-
It was instituted by the Institute of Directors (IOD), India in 1991. Since then, it has been regarded as a benchmark of corporate excellence throughout the world. The purpose of this award has been to raise overall standards of how much a company gives back to the society through the various charitable efforts and initiatives and also to recognize the achievements of the best performing organizations. The Award applications are assessed at three levels by Independent Assessors and finally by a Grand Jury.
Impact of Nita Ambani led Reliance Foundation-
The Foundation was awarded this award for the year 2017 for its many CSR initiatives that it undertook. The work done by its Chairperson, Nita Ambani, has been widely recognized with this. The organization has touched the lives of over 15 million people across India living in more than 13,500 villages and urban locations. Many of RIL’s key programs aim at positively impacting the livelihoods of farmers through water and food security interventions, said the jury that bestowed the award. Furthermore, it added that the well-known program for rural transformation called “Bharat India Jodo”, which works with small time farmers in order to aid their agricultural activities and improve their lives, has been immensely successful.
Golden Peacock Award for Corporate Social Responsibility gives attention to social and environmental concerns. The initiatives and programs started by Reliance Foundation has been a major reason in improving the lives of the marginalized farmers in many areas of the countries. The award only goes to show how big an impact the entire organization has had in the country.