Real renunciation means that one should always think himself part and parcel of the Supreme Lord and therefore think that he has no right to enjoy the results of his work. Since he is part and parcel of the Supreme Lord, the results of his work must be enjoyed by the Supreme Lord. This is actually Kṛṣṇa consciousness. The person acting in Kṛṣṇa consciousness is really a sannyāsī, one in the renounced order of life. By such a mentality, one is satisfied because he is actually acting for the Supreme. Thus he is not attached to anything material; he becomes accustomed to not taking pleasure in anything beyond the transcendental happiness derived from the service of the Lord. A sannyāsī is supposed to be free from the reactions of his past activities, but a person who is in Kṛṣṇa consciousness automatically attains this perfection without even accepting the so-called order of renunciation. This state of mind is called yogārūḍha, or the perfectional stage of yoga. As confirmed in the Third Chapter, yas tv ātma-ratir eva syāt: one who is satisfied in himself has no fear of any kind of reaction from his activity.
(Bhagavad-Gita-------18:49-------purport).

In this world everyone is envious of his fellow being. But a perfect paramahaṁsa, being completely given up to the service of the Lord, is perfectly nonenvious. He loves every living being in relation with the Supreme Lord. Real renunciation means perfect dependence on God. Every living being is dependent on someone else because he is so made. Actually everyone is dependent on the mercy of the Supreme Lord, but when one forgets his relation with the Lord, he becomes dependent on the conditions of material nature. Renunciation means renouncing ones dependence on the conditions of material nature and thus becoming completely dependent on the mercy of the Lord. Real independence means complete faith in the mercy of the Lord without dependence on the conditions of matter. This paramahaṁsa stage is the highest perfectional stage in bhakti-yoga, the process of devotional service to the Supreme Lord.
(Srimad Bhagavatam------1:18:22-------purport).