- Key Highlights
- Sustainability Strategy and Goals
- Progress vs. Target Tracker
- Key Sustainability Innovations and Technologies
- Measurable Impacts
- Challenges and Areas for Improvement
- Future Plans and Long-Term Goals
- Comparisons to Industry Competitors
- Integrated Energy and Chemicals Sustainability: RIL vs. Peers
- What to Watch: 12 to 18 Month Indicators
Reliance Industries Limited (RIL), India’s largest company by market capitalisation and revenue, has positioned itself as the central vehicle for India’s clean energy transition, committing to become Net Carbon Zero by 2035, one of the most aggressive net zero timelines among the world’s major industrial conglomerates. With FY2025 revenues of approximately $112.9 billion and operations spanning oil-to-chemicals (O2C), retail, digital services, media, and a rapidly growing new-energy business, RIL’s environmental decisions carry consequences at national and global scales. RIL publishes an annual Integrated Annual Report and a SEBI-mandated Business Responsibility and Sustainability Report (BRSR), with FY2024-25 reports released in August 2025.
Key Highlights
- Net Carbon Zero by 2035 target committed at the AGM in 2020, making RIL one of the few large industrial emitters with a sub-2040 net zero timeline
- Total operational GHG emissions in FY2025: 37,929,391 metric tons CO2 equivalent across Scope 1 and Scope 2
- Scope 1 emissions FY2025: 36,459,294 tCO2e; Scope 2 FY2025: approximately 1,470,097 tCO2e
- Total energy consumption for O2C and E&P in FY2024-25: 522 Million GJ, of which 5.4 Million GJ sourced from renewable sources
- Water withdrawn in FY2024-25: 232.53 Million kilolitres; 110.09 Million kilolitres recycled
- 20 GW solar PV manufacturing capacity at the Jamnagar giga factory targeted by 2026
- Electrolyser giga factory operational by end-2026 with 3 GW annual scalable capacity
- Green hydrogen production target: 3 million tonnes annually by 2032
- $10 billion committed over three years for four giga factories at Jamnagar covering solar PV, batteries, electrolysers, and fuel cells
- 100 GW of renewable energy to be established and enabled by 2030
- 40 km of roads in Maharashtra built from end-of-life plastics under the ReRoute program
- Emissions intensity: 322.91 tCO2e per million USD revenue in FY2025, above the industry peer median of 193.5
Source
https://www.ril.com/ar2024-25/making-significant-strides-towards-a-net-carbon-zero-future.html
https://www.ril.com/ar2024-25/natural-capital.html
https://tracenable.com/company/reliance-industries/ghg-emissions
Sustainability Strategy and Goals
RIL’s sustainability strategy centres on four interdependent pillars: decarbonising its existing O2C operations, building a fully integrated new energy ecosystem, converting CO2 into a recyclable resource, and replacing transportation fuels with clean electricity and green hydrogen. The strategy is formally disclosed under SEBI’s BRSR framework, aligned with National Guidelines on Responsible Business Conduct (NGRBC), and assessed by Climate Action 100+ (CA100+) against global net zero benchmarks. RIL’s 2035 net zero commitment encompasses at least 95% of Scope 1 and 2 emissions, and the company has made a qualitative statement covering the most relevant Scope 3 categories for its sector.
Net Zero and Carbon Emissions
RIL’s headline commitment is net carbon zero by 2035 across all operations and its energy value chain. Total operational emissions in FY2025 reached 37,929,391 tCO2e, a 0.66% increase from FY2024, reflecting the persistent emissions intensity of the O2C refining and petrochemicals complex at Jamnagar, the world’s largest refining hub. Scope 2 emissions rose 88.05% in FY2025 compared to FY2024, driven by increased purchased electricity demand from expanding digital and retail operations including Jio and JioMart.
- Scope 1 FY2025: 36,459,294 tCO2e; Scope 1 FY2024: approximately 36,220,000 tCO2e (0.66% rise)
- Scope 2 FY2025: approximately 1,470,097 tCO2e; Scope 2 FY2024: approximately 781,000 tCO2e (88.05% rise)
- Scope 3 FY2022: 4,550,000 tCO2e (most recent publicly traceable year; Scope 3 remains materially under-disclosed)
- Emissions intensity FY2025: 322.91 tCO2e per million USD revenue, 67% above the industry peer median of 193.5
- Renewable energy consumed at O2C and E&P: 5.4 Million GJ in FY2024-25, up from 6.82 Million GJ in FY2023-24 (a decline requiring explanation in future reporting)
- Target: carbon-neutral oil sourcing from international supply; RIL is piloting the sourcing of the world’s first carbon-neutral oil
Water Stewardship
RIL withdrew 232.53 million kilolitres of water in FY2024-25, of which 47% was seawater or desalinated water, reducing dependency on freshwater. The company recycled 110.09 million kilolitres of water and discharged 38.96 million kilolitres, meaning net freshwater consumption is substantially lower than the gross withdrawal figure suggests. Water management investments include automation of manufacturing processes, expansion of rainwater harvesting, reuse of treated wastewater, and seawater desalination at Jamnagar.
- Total water withdrawn FY2024-25: 232.53 Million kilolitres (vs. 227.58 Million kilolitres in FY2023-24)
- Total water recycled FY2024-25: 110.09 Million kilolitres (vs. 104.78 Million kilolitres in FY2023-24)
- Total water discharged FY2024-25: 38.96 Million kilolitres; 74.3% released to seawater in FY2023-24
- 47% of total water withdrawal sourced from seawater or desalinated water, reducing freshwater stress
- Rainwater harvesting and groundwater recharge programs active across manufacturing sites
Regenerative Agriculture
Reliance Foundation, RIL’s CSR arm, runs programs that promote sustainable and regenerative agricultural practices across rural India, covering soil health, water-efficient farming, and natural farming inputs. RIL’s petrochemical business supplies agri-inputs including fertiliser intermediates, creating a complex linkage between its industrial operations and agricultural ecosystems. The company has not published a standalone regenerative agriculture commitment or measurable targets as of March 2026.
Deforestation and Biodiversity
RIL has not published formal deforestation commitments or a biodiversity baseline as of March 2026. The Jamnagar complex, located on the coast of Gujarat, operates within an ecologically sensitive zone, and the company undertakes extensive plantation and bio-reclamation programs at each facility. RIL has planted saplings at all manufacturing locations as part of annual environmental targets, though no cumulative data on total hectares or species coverage has been disclosed in its BRSR or annual report.
Packaging and Circular Economy
RIL’s most significant circular economy initiative is the ReRoute program, which converts end-of-life and multi-layer plastics into road construction materials. As of the latest available data, RIL has constructed 40 kilometres of roads in Maharashtra and 12 kilometres in Vadodara using waste plastics, demonstrating a scalable industrial application of plastic circularity. This is particularly relevant given that RIL is one of India’s largest producers of polymers and plastics.
- ReRoute program: 40 km of roads built in Maharashtra using waste and multi-layer plastics
- ReRoute program: 12 km of roads built in Vadodara using end-of-life plastics
- Non-hazardous waste diverted from disposal (recycled or reused): 1.36 thousand metric tons in FY2024-25
- Flared and vented hydrocarbons: 0.10 Million MT in FY2024-25
- RIL has not published a formal packaging reduction target or circular sourcing target for its petrochemical products as of March 2026
Human Rights and Responsible Sourcing
RIL’s BRSR 2024-25 covers human rights disclosures under SEBI’s mandatory framework, including employee welfare, supply chain standards, and community grievance mechanisms aligned with NGRBC principles. The company has not published a standalone human rights due diligence report aligned with the UN Guiding Principles on Business and Human Rights as of March 2026. Climate Action 100+ does not yet award RIL a full pass on just transition or responsible sourcing indicators in its most recent benchmark.
Nutrition and Health
This pillar applies selectively to RIL through its Reliance Retail and JioMart operations, which distribute food and consumer goods to hundreds of millions of Indians. Reliance Foundation operates nutrition and food security programs across rural communities as part of its CSR mandate, reaching approximately 10 million beneficiaries annually. No formal product nutrition or reformulation targets have been published in RIL’s ESG disclosures.
Community and Social Impact
Reliance Foundation donated 1.56% of net profit as CSR expenditure in FY2024-25, covering education, health, rural development, and disaster relief across India. RIL’s AGM 2025 reaffirmed commitments to generate employment through the new energy business, with the Jamnagar giga factory complex expected to directly and indirectly create tens of thousands of jobs. RIL’s digital arm, Jio, now connects over 480 million subscribers, making it one of the largest contributors to digital inclusion in the developing world.
- CSR expenditure FY2024-25: 1.56% of net profit, distributed across education, healthcare, rural livelihoods, and disaster relief
- Jio: 480+ million subscribers as of FY2025
- Reliance Foundation nutrition programs: approximately 10 million rural beneficiaries annually
- Jamnagar giga factory complex: projected to create tens of thousands of direct and indirect jobs
Governance and Transparency
RIL discloses sustainability data under SEBI’s BRSR framework, which from FY2024-25 requires third-party assurance on nine key ESG metrics. Climate Action 100+ assesses RIL against the Net Zero Company Benchmark and notes that while the company has made a qualitative net zero ambition statement covering Scope 1 and 2, its long-term 2036 to 2050 reduction targets and Scope 3 coverage remain incomplete relative to CA100+ standards. RIL is not a signatory to the Science Based Targets initiative as of March 2026.
Technology and Innovation
RIL’s most transformative sustainability technology is the four-giga-factory complex at Jamnagar, covering solar PV, batteries, electrolysers, and fuel cells, representing a vertically integrated clean energy manufacturing ecosystem that no other Indian company has attempted at this scale. The first 200 MW of Heterojunction Technology (HJT) solar modules have been manufactured in-house, offering a 10% higher energy yield, 20% improved temperature performance, and 25% reduced degradation compared to conventional modules.
- Four giga factories at Jamnagar: solar PV, batteries, electrolysers, fuel cells; $10 billion investment over three years
- Electrolyser giga factory: operational by end-2026, scalable to 3 GW per year of production capacity
- 200 MW of HJT solar modules manufactured in-house: 10% higher energy yield, 20% better temperature performance, 25% reduced degradation
- Proprietary Oil-to-Chemicals (O2C) technology (Multi-zone Catalytic Cracking, MCC): converts transportation fuels to petrochemical and material building blocks, reducing crude oil demand
- CO2 capture and utilisation projects under techno-economic evaluation at Jamnagar Manufacturing Division
- Sodium-ion cell production at megawatt scale targeted for 2025; 50 MWh lithium battery cell pilot by 2026
Global Partnerships and Advocacy
RIL’s clean energy strategy is built on exclusive international technology partnerships for electrolyser manufacturing and green hydrogen scaling, named partners not yet publicly disclosed in full detail. In January 2026, RIL formalised a strategic alliance with ONGC and BP for offshore exploration and production, combining resources across India’s largest energy sector players. RIL is assessed by Climate Action 100+, participates in India’s national clean energy frameworks, and contributes to the country’s NDCs through its 100 GW renewable energy enablement target.
Source
https://www.ril.com/ar2024-25/making-significant-strides-towards-a-net-carbon-zero-future.html
https://www.ril.com/ar2024-25/natural-capital.html
https://www.ril.com/reports/BRSR202425.pdf
https://www.climateaction100.org/company-assessments/reliance-industries-ltd/
Progress vs. Target Tracker
Source
https://www.climateaction100.org/company-assessments/reliance-industries-ltd/
https://tracenable.com/company/reliance-industries/ghg-emissions
https://www.ril.com/ar2024-25/making-significant-strides-towards-a-net-carbon-zero-future.html
Key Sustainability Innovations and Technologies
The Jamnagar giga factory complex is RIL’s most consequential sustainability asset in development. It is designed as the world’s largest vertically integrated renewable energy manufacturing campus, covering the full value chain from polysilicon to PV modules, sodium-ion and lithium battery cells, electrolysers for green hydrogen, and fuel cell systems. RIL’s proprietary HJT module technology, with 10% higher energy yield over conventional cells and 25% lower degradation, positions it to compete globally on cost and performance without relying on imported technology.
- Jamnagar giga factory: covers solar PV (polysilicon to module), batteries (sodium-ion and lithium), electrolysers (3 GW/year scalable), and fuel cells; single-site vertical integration
- HJT solar modules: 10% higher energy yield, 20% better temperature performance, 25% reduced degradation vs. conventional modules; first 200 MW produced in-house
- ReRoute circular economy program: waste and multi-layer plastics converted to road-grade construction material; 52 km of roads built across Maharashtra and Vadodara
- CO2 capture and utilisation: techno-economic evaluation underway at Jamnagar for carbon recycling from O2C operations
- MCC (Multi-zone Catalytic Cracking) Oil-to-Chemicals technology: patented process converting transportation fuels to high-value petrochemical building blocks, reducing crude oil demand per unit of output
- Seawater desalination at scale: 47% of FY2025 water withdrawal sourced from seawater, directly reducing freshwater stress in the arid Gujarat coast region
RIL’s Bloom Energy-style approach to clean power at its campuses is currently in the partnership-building phase rather than deployed at scale, contrasting with Oracle’s fully operational fuel cell installations. The $10 billion committed to giga factories, when fully deployed, would represent one of the largest private clean energy manufacturing investments in any emerging market in history.
Source
https://www.ril.com/ar2024-25/natural-capital.html
https://energy.greenbusinesscentre.com/ciinetzero/corporatesarticle.php?id=81
https://www.energetica-india.net/news/reliance-industries-unveils-major-clean-energy-expansion-plans
Measurable Impacts
RIL’s FY2024-25 data confirms that total operational GHG emissions are not yet declining, standing at 37,929,391 tCO2e, a 0.66% increase from FY2024 levels and substantially above the 2035 net zero target trajectory. Scope 2 emissions surged 88.05% year over year in FY2025, the most concerning single-year trend in RIL’s emissions profile, driven by rapid expansion of purchased electricity across Jio’s network, JioMart retail operations, and corporate infrastructure. The positive trajectory is in water recycling, which grew from 104.78 Million kilolitres in FY2023-24 to 110.09 Million kilolitres in FY2024-25.
RIL’s renewable energy consumption at O2C and E&P operations was 5.4 Million GJ in FY2024-25, a drop from 6.82 Million GJ in FY2023-24, a decline that contradicts the expected upward trajectory toward the 100 GW renewable energy target. Renewable energy represented only 5.7% of energy consumed at specific sites in FY2023-24, and total renewable energy consumption remains a fraction of the 522 Million GJ consumed across O2C and E&P in FY2024-25.
- Total operational GHG FY2025: 37,929,391 tCO2e (FY2024: 37,681,000 tCO2e; +0.66%)
- Scope 2 FY2025: approximately 1,470,097 tCO2e (FY2024: approximately 781,000 tCO2e; +88.05%)
- Total energy FY2024-25 (O2C and E&P): 522 Million GJ; renewable share: 5.4 Million GJ (approximately 1.03%)
- Renewable energy consumed at operations: 5.4 Million GJ in FY2024-25 vs. 6.82 Million GJ in FY2023-24 (decline of 20.8%)
- Water withdrawn FY2024-25: 232.53 Million kilolitres; recycled: 110.09 Million kilolitres (47.4% recycling rate)
- Hydrocarbons flared and vented: 0.10 Million MT in FY2024-25
- Emissions intensity: 322.91 tCO2e per million USD revenue in FY2025, 67% above industry peer median of 193.5
- Scope 3 emissions: last disclosed at 4.55 million tCO2e in FY2022; no update published for FY2023, FY2024, or FY2025
Source
https://tracenable.com/company/reliance-industries/ghg-emissions
https://www.ril.com/ar2024-25/natural-capital.html
https://www.data.illuminem.com/company/c8194823_reliance-industries
Challenges and Areas for Improvement
The most material challenge for RIL is the gap between its 2035 net zero ambition and its current emissions trajectory. Total operational GHG emissions are not declining and remain at approximately 37.9 million tCO2e, with no credible year-by-year reduction pathway publicly disclosed. The 2035 target requires essentially zeroing out 37.9 million tCO2e in nine years, while the giga factory capacity and renewable energy assets required to achieve this have not yet come online at scale. Without a published interim decarbonisation roadmap with annual milestones, the 2035 commitment cannot be independently verified or tracked.
The second critical challenge is Scope 3 non-disclosure. RIL’s last published Scope 3 figure was 4.55 million tCO2e for FY2022. For a company that is one of the world’s largest refiners and petrochemical producers, downstream Scope 3 emissions from fuel combustion and product use constitute the overwhelming majority of its value chain footprint. CA100+ notes that RIL’s Scope 3 coverage does not yet meet the benchmarks for the most relevant categories in the integrated oil and chemicals sector.
- Scope 3 non-disclosure: no data published for FY2023, FY2024, or FY2025; last figure was 4.55 million tCO2e (FY2022)
- Emissions intensity 322.91 tCO2e per million USD revenue, 67% above industry peer median of 193.5
- Scope 2 emissions grew 88.05% in FY2025, the fastest-growing emissions category in the portfolio
- Renewable energy consumed at operations declined 20.8% in FY2024-25 vs. FY2023-24
- Green hydrogen transition target of 2025 was missed; electrolyser giga factory will not be operational until end-2026 at the earliest
- No SBTi registration; CA100+ does not yet award RIL full scores on long-term 2036 to 2050 target completeness
- No deforestation policy, no biodiversity baseline, and no formal land-use commitments for Jamnagar and other manufacturing sites
- No standalone human rights due diligence report aligned with UN Guiding Principles
- Absence of a circular economy framework for the polymer and plastics product portfolio, despite RIL being India’s largest polymer producer
Source
https://tracenable.com/company/reliance-industries/ghg-emissions
https://www.climateaction100.org/company-assessments/reliance-industries-ltd/
https://www.opensustainabilityindex.org/company/reliance-industries
Future Plans and Long-Term Goals
RIL’s most consequential future commitment is the 100 GW renewable energy enablement target by 2030, backed by a $10 billion giga factory investment at Jamnagar covering the full value chain of clean energy manufacturing. The electrolyser giga factory, coming online by end-2026 at a scalable capacity of 3 GW per year, will be the foundation for RIL’s goal of 3 million tonnes of green hydrogen annually by 2032, at a cost below $1 per kg, a price point Mukesh Ambani has described as a global tipping point for industrial adoption. RIL intends to use green hydrogen not only to decarbonise its own refining operations but to supply India’s emerging clean transportation and industrial hydrogen markets.
On the circular economy front, the ReRoute program is expected to scale significantly as India implements the Extended Producer Responsibility (EPR) framework for plastics. RIL is also evaluating CO2 capture and utilisation at Jamnagar to convert refinery CO2 into petrochemical feedstocks, which, if commercially proven, would represent a step change in O2C decarbonisation strategy.
- 100 GW renewable energy enabled by 2030 (RIL + enabling India’s broader renewable ecosystem)
- 20 GW solar PV manufacturing capacity at Jamnagar: full capacity by 2026
- Electrolyser giga factory: operational end-2026, scalable to 3 GW/year
- Green hydrogen: 3 million tonnes annually by 2032 at below $1 per kg
- Sodium-ion battery cell production at megawatt scale: 2025 (pilot); 50 MWh lithium cell pilot: 2026
- CO2 capture and utilisation at Jamnagar: techno-economic evaluation phase; no timeline disclosed
- Net Carbon Zero: all operations by 2035
- No formal 2050 beyond-net-zero or nature-positive commitment published as of March 2026
Source
https://www.ril.com/ar2024-25/making-significant-strides-towards-a-net-carbon-zero-future.html
https://www.energetica-india.net/news/reliance-industries-unveils-major-clean-energy-expansion-plans
https://energy.greenbusinesscentre.com/ciinetzero/corporatesarticle.php?id=81
Comparisons to Industry Competitors
RIL competes in the global integrated energy and chemicals sector against companies including BP and TotalEnergies, which have more mature decarbonisation frameworks, though both have retreated on some targets in recent years. ONGC, RIL’s domestic peer and a new strategic partner, holds a net zero target of 2038 for Scope 1 and 2 only and is deploying AUSEA methane detection technology in collaboration with TotalEnergies. RIL’s 2035 net zero timeline is more aggressive than ONGC’s 2038 target but lacks the SBTi validation and sector-aligned Scope 3 disclosure that BP and TotalEnergies, despite their own credibility challenges, have at least partially published.
Integrated Energy and Chemicals Sustainability: RIL vs. Peers
Source
ONGC sustainability: https://totalenergies.com/news/press-releases/totalenergies-and-ongc-india-join-forces-detect-and-measure-methane-emissions
RIL BRSR: https://www.ril.com/reports/BRSR202425.pdf
Climate Action 100+: https://www.climateaction100.org/company-assessments/reliance-industries-ltd/
What to Watch: 12 to 18 Month Indicators
First indicator: Whether the Jamnagar electrolyser giga factory achieves its announced end-2026 operational date and whether RIL publishes any green hydrogen production volume data in its FY2026 annual report. This is the single most important signal of whether RIL’s 2035 net zero pathway is real or aspirational. A commissioned, producing electrolyser facility at 3 GW annual capacity would be the largest in India and would validate RIL’s claim of below-$1/kg green hydrogen. A delay beyond end-2026 would be the third consecutive missed clean energy production milestone, following the missed 2025 grey-to-green hydrogen transition.
Second indicator: Whether RIL’s FY2026 BRSR (to be released in August 2026) includes Scope 3 emissions data for FY2025 and FY2026, closing a four-year disclosure gap. SEBI’s strengthened BRSR framework now mandates third-party assurance on nine key ESG metrics from FY2024-25 onward. If Scope 3 data appears and it reflects the downstream combustion emissions from RIL’s refinery output, it will increase the company’s reported total footprint dramatically and will sharpen the accountability pressure on its 2035 net zero claim.
Third indicator: Whether RIL’s total operational GHG emissions begin declining in FY2026 for the first time since 2022. The 88.05% surge in Scope 2 emissions in FY2025 and the 20.8% decline in renewable energy consumed at O2C operations are two data points that, if sustained, make the 2035 net zero timeline structurally impossible to meet without large-scale carbon offsets. Any reversal of these two trends in FY2026 reporting would be the earliest available evidence that RIL’s clean energy buildout is materially changing its operational footprint.
Source
https://tracenable.com/company/reliance-industries/ghg-emissions
https://www.ril.com/reports/BRSR202425.pdf
https://www.energetica-india.net/news/reliance-industries-unveils-major-clean-energy-expansion-plans
RIL occupies a unique and paradoxical position in global sustainability: it has one of the most ambitious net zero timelines among major industrial emitters, yet its current operational emissions are rising, its renewable energy consumption at core operations is declining, and its Scope 3 footprint remains almost entirely undisclosed. The giga factory investments at Jamnagar are genuinely significant, and the HJT module technology and electrolyser programs are credible technological assets. The gap is between the scale of the ambition and the pace of operational decarbonisation.
For CSOs and ESG practitioners benchmarking against RIL or advising on India-based industrial decarbonisation, three strategic takeaways apply.
First, RIL’s vertical integration model for clean energy manufacturing, covering polysilicon through modules, batteries, and electrolysers at a single site, is the most ambitious industrial sustainability infrastructure project in any emerging market as of 2026. If it reaches even 50% of its stated capacity by 2030, it will reshape India’s clean energy supply chain and reduce import dependency on China for solar and battery components. Practitioners building clean energy supply chains in India should track Jamnagar’s commissioning milestones as primary indicators of domestic availability.
Second, RIL’s Scope 3 disclosure gap is the most significant ESG accountability risk for any institutional investor holding RIL stock in an ESG-screened portfolio. A company that produces roughly 80 million barrels of refined product annually cannot present a credible net zero pathway without accounting for the combustion emissions from those products. Any portfolio manager relying on RIL’s 2035 commitment without demanding Scope 3 data is accepting an unquantified and unverified risk.
Third, the SEBI BRSR framework’s new mandatory assurance requirement for nine key metrics, effective from FY2024-25, is the most important governance development in Indian corporate sustainability in the past decade. RIL’s compliance with this requirement in its August 2026 filing will be the acid test of whether India’s largest company can meet the disclosure standards its global peers have held for years. Practitioners should use RIL’s FY2026 BRSR as a benchmark for what SEBI-mandated assurance can and cannot verify.
Source
https://tracenable.com/company/reliance-industries/ghg-emissions
https://www.ril.com/ar2024-25/making-significant-strides-towards-a-net-carbon-zero-future.html
https://www.climateaction100.org/company-assessments/reliance-industries-ltd/
