Reliance Speeds Up Net Zero Journey

The company has a continuous Emission Monitoring System (CEMS) that enables adherence to local standards for SOx, NOx, and TPM emissions….reports Asian Lite News

RIL’s air emissions across various categories came down markedly during FY23 from the FY22 levels despite growing production and energy consumption.

The company has a continuous Emission Monitoring System (CEMS) that enables adherence to local standards for SOx, NOx, and TPM emissions.

Reliance continues to meet its growing energy demands with sources that have minimal environmental impacts. Reliance achieved a 115 per cent jump in its renewable energy consumption during FY23.

“During FY 2022-23, renewable energy consumption across the Company’s operations saw an increase of 115 per cent year-on-year. The Dahej and Hazira manufacturing units generated 6.1 million GJ of renewable energy, accounting for over 90 per cent of the total green energy produced in the fiscal year by the Company,” mentioned the annual report.

Over and above that Reliance achieved a net 2.53 million GJ energy savings during FY23 through conservation efforts.

The Company is leveraging the expertise and experience of its New Energy Council (NEC), a group of leading global technocrats and thought leaders, to accelerate its transition to clean energy, mentioned the annual report.

Reliance considers enhancing the energy efficiency of its operations as an important step to achieve its Net Carbon Zero target.

In line with this, the Company emphasises implementing best-in-class technologies and maintenance practices to optimise energy consumption at applicable sites.

During FY23, the energy efficiency improvement initiatives resulted in energy savings of 2.5 million GJ for RIL, as against 2.11 million GJ in FY22.

Dedicated Energy Teams pursue relentless monitoring of energy performance at all RIL sites and at the group level.

Meanwhile, Reliance India Limited’s exports for the year was Rs 3,40,048 crore (US$ 41.4 billion),  a strong jump of 33.4 per cent from FY22 exports of Rs 2,54,970 crore (US$ 33.6 billion).

The increase in exports were led by higher price realisations despite lower downstream product volumes, mentioned the annual report.

India’s merchandise exports crossed $447 billion during FY23. Reliance represented 9.2 per cent of India’s total merchandise exports.

Reliance Industries is one of India’s largest contributors to the national exchequer. Reliance’s consolidated contribution to the national exchequer crossed Rs 5 lakh crore in the three years from FY21 to FY23.

Reliance’s contribution to national exchequer stood at Rs 177,173 crore in FY23, marginally down from Rs 188,012 crore of FY22.

The company continues to be the largest taxpayer in India, contributing Rs 1,77,173 crore to the national exchequer by way of various direct and indirect taxes, mentioned the annual report.

This was over 5 per cent of the Union government’s budgeted expenditure for last three years

Reliance Industries Limited issued its Annual Report for FY23 on Saturday.

The company will be holding its Annual General Meeting on Monday, August 28, 2023.

Among other things, the RIL Annual Report mentioned about the progress made by all its business verticals viz. Retail, Digital Services, O2C and E&P, and spoke about RIL’s intentions in the Green Energy field.

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