Tuesday December 11, 2018

‘Green’ lessons earn Reliance staffer Guinness entry

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Coimbatore: An hour-long lesson last year on how to segregate waste at source, involving 12,994 people of this city, has fetched C G S Manion, a member of the polyester division of RelianceIndustries, a Guinness World Record.

Manion, who has to his credit nearly 15 years of work towards environment protection, was selected by the Coimbatore Municipal Corporation to conduct a lesson on recycling on August 5 last year, which the Guinness has recognised.

In its citation, Guinness World Record called it the largest recycling lesson.

“This event was an attempt to reach a majority of local households with practical messages on waste segregation, reduce dumping of waste and recover for recycling and composting,” it said.

The environment expert’s campaigns also work in tandem with his employer Reliance Industries’ own facilities, townships and adjoining places through a host of initiatives like the one on a sustainable system to collect and dispose used plastic bottles in a green manner.

“These projects are very special to me not for the Guinness Record, but for reaching out to our society for a genuine social cause,” said Manion, also associated with a non-profit organisation that has undertaken works like the restoration of water bodies and afforestation.

Named Siruthuli, a small drop of water in Tamil, the non-profit venture started with projects to rejuvenate water sources in this city and has now ventured further into afforestation, waste management and awareness programmes.

“Such efforts are reflections of our company’s commitment to ‘recycle, reduce and re-use’,” a Reliance Industries spokesperson said, referring to how the company re-uses plastics to replace carcinogenic asbestos and make pre-coloured fabrics to avoid harmful dyeing later.

“We see such efforts as an inspiration for our ‘go green with swatch Bharat’ campaign,” the spokesperson said, and added that the strategy involved creating awareness on safe disposal of plastic bottles, adopt a systematic collection system and making fibres out of them.

At some high-profile events like the Indian Premier League cricket matches, the venues are peppered with banners explaining safe disposal methods and calling upon patrons to bring their plastic bottles for a “greener future”.(IANS)

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HSBC and Reliance Execute Blockchain Trade Finance Transaction

The statement added that the transaction validated the commercial and operational viability of blockchain as an alternative to conventional exchanges for paper-based documentation

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Reliance.
HSBC, RIL execute blockchain trade finance transaction.

Banking and financial services major HSBC and Reliance Industries Ltd on Sunday said that they have executed a first-of-its-kind blockchain trade finance transaction, validating the commercial and operational viability of blockchain as an alternative to conventional exchanges for paper-based documentation.

“This is an industry-first as the blockchain platform integrated with ‘Bolero’s electronic Bill of Lading’ (eBL) platform to issue and manage an electronic ‘Bill of Lading’,” a joint statement said.

“This allowed a digital transfer of the title of goods from the seller to the buyer in the underlying trade. It further enabled the underlying trade to be fully digitised.”

According to the statement, the end-to-end transaction was executed on “R3’s Corda” blockchain platform which is a single-shared application, rather than requiring multiple isolated digital systems across various counterparties located around the globe.

“The ‘Letter of Credit’ (LC) was issued by ING Bank for Tricon Energy USA (importer) with HSBC India as the advising and negotiating bank for Reliance Industries, India (exporter),” the statement said.

Reliance
Reliance.

“This solution is a significant improvement for any organisation involved in buying and selling goods internationally, as it truly brings together all parties onto one platform.”

The statement added that the transaction validated the commercial and operational viability of blockchain as an alternative to conventional exchanges for paper-based documentation.

Also Read- Private Messages of 120 mn Facebook Users Hacked: Report

“We are excited to partner with HSBC on digitalisation of trade finance. This reflects our continued commitment to embrace emerging technologies and industry-first initiatives,” Srikanth Venkatachari, Joint Chief Financial Officer, Reliance Industries, was quoted as saying in the statement.

“The use of blockchain offers significant potential to reduce the timelines involved in exchange of export documentation from the extant 7 to 10 days to less than a day. When adopted at scale, it helps in significant optimisation of working capital. Further, use of blockchain in trade finance enhances transparency, security and synergy across all the parties and stakeholders involved.” (IANS)