Reliance Jio and Mahindra & Mahindra are the only Indian firms to make it to the top 25 on the list of 63 companies in the global ‘Change The World’ list from Fortune. The prestigious list recognizes companies that have had a positive social impact through activities that are part of their core business strategy.
Jio is ranked ahead of pharma giant Merck and Bank of America while Chinese group Alibaba is ranked 5th. “If access to the Internet is a basic human right — and the United Nations declared it one in the summer of 2016 — then Reliance Jio deserves more credit than most for expanding access to it,” Fortune said. Jio stormed the sector with free calls and data forcing rivals to merge or exit in September 2016. The biggest winners are those in rural areas or of modest means — farmers, students, and entrepreneurs who finally have in their hands the tool they need to participate in the modern economy.
Mahindra & Mahindra (ranked 23) was recognized for its significant 44% reduction in carbon emissions over the past 7 years. The company has been striving to reduce carbon emissions through a series of initiatives, including it being the first global company to sign EP100, a commitment to double energy productivity by 2030. Demonstrating its proactiveness, M&M was also the first Indian company to announce its internal carbon price of US$10 per tonne of carbon emitted. Other key initiatives that helped M&M include the re-engineering of its manufacturing processes to use 63% less energy to produce a vehicle and 33% less energy to produce a tractor over the past 8 years.
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