Reliance Foundation wins Porter Prize for social contribution

Reliance Foundation, the philanthropic arm of the Reliance Industries Limited, has bagged the prestigious Porter Prize 2015 for its ‘outstanding contribution to society’.

 Reliance Foundation wins Porter Prize for social contribution

Reliance Foundation logo

The prize, named after Michael E Porter, Professor at Harvard Business School, aims to encourage companies on the basis of value creation, innovation and strategy.

The citation said the award went to Reliance Foundation for its “outstanding contribution to the society to meet the basic human needs, establishing blocks that allow communities to sustain quality of life and creating conditions for individuals to reach their potential".

Established in 2010 with Nita Ambani as its founding chairperson, Reliance Foundation aims at sustainable growth through initiatives in five key areas: health, education, urban renewal, rural transformation and art, culture & heritage. It enables transformative changes in society through a segment-centric diversified approach to existing problems. For example, the Bharat-India Jodo (BIJ) programme aims to approach the problems faced by marginal farmers by bridging the gap between the two Indias through innovative use of technology, while in the health sector, it provides succour to the blind through its Drishti programme. Drishti is one of the largest private sector initiatives that enables corneal transplants to give the gift of sight to the visually disabled. It has also launched India’s first registered national Braille newspaper in Hindi. This newspaper has become so popular that it is now distributed not just in India but about 18 other countries.

Reliance Industries, the parent organization, is incidentally the biggest spender on corporate social responsibility. With a spend of Rs 712 crore (FY 2014) on this head, it far exceeded the minimum 2% mandated by the government.

The winners of the prize in other categories – 30 were shortlisted for selection - included JSW Steel, Mahindra Rural Housing and Finance, Abbott India, and DHL among others. The event was attended by top industry leaders, thinkers, and senior executives from the corporate sector, government and the media.

Updated Date: Sep 29, 2015 12:07:37 IST