Reliance Industries Limited (RIL) has demonstrated its commitment to reducing plastic waste and promoting a Circular Economy in India through a groundbreaking innovation.
On 29th December 2023, RIL, the operator of the world’s largest integrated refining and petrochemical complex, made history by becoming the first Indian company to transform plastic waste-based pyrolysis oil into International Sustainability & Carbon Certification (ISCC)-Plus certified Circular Polymers. This achievement underscores RIL’s dedication to environmental sustainability.
The company has shipped its inaugural batch of ISCC-Plus certified Circular Polymers, branded as CircuRepol™ (Polypropylene) and CircuRelene™ (Polyethylene).
RIL is leading the way in India by employing innovative technology to convert plastic waste into unique Circular Polymers, thereby positively impacting the environment. The company’s commitment to sustainability is evident in its pioneering methods like chemical recycling, which contribute to the creation of a Circular Economy. RIL is steadfast in its mission to devise intelligent solutions to minimize plastic waste and encourages others to participate in this journey towards a more sustainable future.
CircuRepol™ and CircuRelene™ are at the forefront of Circular Economy practices. RIL’s Jamnagar refinery is the first to receive the prestigious ISCC-Plus certification, demonstrating its capability to produce Circular Polymers through chemical recycling. The ISCC-Plus certification ensures adherence to traceability and regulations in the production of Circular Polymers.
RIL has engineered a technology that converts various types of plastic waste, including single-use and multi-layered plastics, into pyrolysis oil. The company is collaborating with trusted partners to augment the production of this oil and convert the output into Circular Polymers. Chemical recycling offers numerous advantages, such as transforming plastic waste into high-grade materials for new plastic production. These materials can be utilized for food-contact packaging.
Reliance, India’s largest private sector company, reported a consolidated revenue of INR 9,74,864 crore (US$118.6 billion), cash profit of INR 1,25,951 crore (US$ 15.3 billion), and net profit of INR 73,670 crore (US$9.0 billion) for the fiscal year ending March 31, 2023. The company’s operations encompass hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail, and digital services.
Reliance, currently ranked 88th, is the largest private sector company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Companies’ for 2023. The company holds the 45th position in the Forbes Global 2000 rankings of ‘World’s Largest Public Companies’ for 2023, the highest among Indian companies. Reliance is the top-ranked Indian company and the only one in the top 100 on Forbes’ ‘World’s Best Employers’ 2023 list. It also features among LinkedIn’s ‘Top Companies 2023: The 25 Best Workplaces To Grow Your Career In India.’