Billionaires across the globe are recognizing the importance of a stable ecological balance. India's top businessman and Chairman of Reliance Industries, Mukesh Ambani, is not far behind in the league. The company has already taken up several initiatives for a nature-friendly and climate-conscious approach to development. The decision-makers are centering the decisions around environment-friendly projects that provide a holistic approach towards risk management, corporate governance and an overall inclusive business strategy. Reliance Industries have planted mangrove saplings on 875 acres of land around its Jamnagar refinery. This environment-friendly step was taken up to preserve the ecological balance in the surroundings and conserve biodiversity ad ecosystems.
Planted 2.3 Crore Saplings In 2020-21
Climate change has gradually become a reality, and countries are taking it up with utmost seriousness. Modern businesses can prosper if they fulfil their responsibilities towards the environment and society. The company planted more than 2.3 crore saplings in 2020-2021. The annual report of 2020 stated that they had added 2,600 acres of the green belt across all manufacturing units since its inception. In Jamnagar, Reliance operates the world's largest single-location oil-refining complex, with a capacity of 68.2 million tonnes a year.
Reliance Industries aspire to bring down the net carbon emissions to zero by 2035. They have realised that there is no running away because global temperatures are increasing by 1.5 degrees Celsius annually. India CSR quoted the business tycoon saying that it is a moral responsibility to reduce climate change and save the Earth. The company dedicates investment to Research and Development while addressing its national and global priorities. The annual R&D expenditure of the company comes more than ₹ 2500 crore and is used to promote clean energy, a circular economy, and plastic waste for roads.
What Are Mangroves?
Mangroves are salt-tolerant vegetation and are also called 'tidal forests' and fall under the tropical wetland rainforest ecosystem category. A mangrove ecosystem can be defined as an interface between terrestrial forests and aquatic ecosystems. Nearly 2,00,000 square kilometres of the world's tropical regions are coevered with mangroves. India has a mangrove cover of 4,482 kilometres. Plants exist in saline and muddy conditions in these forests. Therefore, Mukesh Ambani's decision of re-energising the mangrove cover in Gujrat's Jamnagar is crucial. These forests face threats of urbanisation, industrialisation, release of domestic sewage and pesticides.
Globally, mangroves have been decreasing from 2 to 8 per cent annually. Over the last three decades, 40 per cent of mangroves have been reduced to farmlands and housing colonies. India has already lost 35,000 hectares of mangroves due to shrimp farming, and several species are on the verge of extinction. The Supreme Court has banned semi-intensive and intensive aquaculture in coastal areas. The court had ordered the identification of suitable sites for mangrove plantations and the development of nurseries.
Several Indian companies are now looking towards environmental preservation as their moral responsibility. Such companies are being applauded for their efforts to counter the challenge of climate change. Leading companies like Tata Chemicals, Infosys, Mahindra, ITC, Vedanta, and Wipro are the top examples. For a multinational company, fulfilment of environmental and social responsibilities aid in the betterment of brand value and company image. It also boosts employee morale and helps increase productivity amongst the employees. Embracing corporate social responsibility helps attract and retain customers, which is essential for any long-term success.