Home CSR Content Trending Stories Reliance Industries Bags ‘energy Oscars’ Platts Global Energy Award For CSR

Reliance Industries Bags ‘energy Oscars’ Platts Global Energy Award For CSR

Image: geaweb.platts.com/Winners/Winners2015

NEW YORK (December 2015): Energy companies from seven countries and three continents recently received honors for leadership, innovation and exemplary performance at the 17th annual Platts Global Energy Awards, often described as the “Oscars” of energy. Eighteen awards were bestowed upon companies and individuals at the Cipriani Wall Street in lower Manhattan before an audience of 400 energy executives hailing from 15 countries. Reliance Industries Ltd won the Platts Global Energy Award in the Corporate Social Responsibility (CSR) category.

Platts receives more than 200 nominations each year with Nominations coming from more than 25 countries including Brazil, India, Puerto Rico, Saudi Arabia, South Africa, Spain, Russia, Switzerland, Argentina, China, Pakistan, Bangladesh, Thailand, United Kingdom and the United States. OPEC energy ministers, national regulators, former heads of major energy companies and leading academics and legislators are among judges for the Awards. With brands like Standard an Poor’s in its portfolio, Platts is a global energy, petrochemicals, metals and agriculture information provider, a source of benchmark price references, and part of the McGraw Hill group.

Image: reliancefoundation.org
Image: reliancefoundation.org

The CSR activities of Reliance Industries is spearheaded by Reliance Foundation with initiatives in areas like health, rural transformation, sports, disaster response, HIV/AIDS and building parks. “Reliance, India’s second largest company by market value and led by India’s richest man (Mukesh Ambani), earned 2015 revenue of $62.5 billion” said the Platts adjudicators.

“As a corporate aware of its social responsibilities, Reliance Foundation, led by chairperson Nita Ambani, has touched the lives of more than four million people across India, in more than 5,500 villages and urban locations,” said a statement by Reliance Industries.

Image: geaweb.platts.com/Winners/Winners2015
Image: geaweb.platts.com/Winners/Winners2015

Also notable is that women won two of the top honors for the first time in the program’s near 20-year history: “CEO of the Year,” awarded to Nishi Vasudeva of India’s Hindustan Petroleum Corporation Limited (HPCL), and “Rising Star — Individual,” awarded to Maria Victoria Zingoni, Repsol’s Executive Managing Director of Downstream.

Selected from 10 other finalists, Vasudeva was applauded by the judges for her leadership acumen both in clarity of vision and financial management – which helped the state-owned company deliver an increase of more than 200% in market value in her first year as chair and managing director. She is the first female head of a large Indian oil company and is one of just 14 women to helm a Global Fortune 500 company.