Meaning: Peace instantly follows renunciation.
(Source: Bhagavad-Gita 12.12)

Here, renunciation refers to 'Tyaga'. The meaning of 'Tyaga' (sacrifice in its true sense) is giving up of the tendency to possess the fruits of action, and not the action itself. It implies that we should perform our actions with utmost sincerity, and leave the results to be taken care by the god. Our actions (karma) should be done as an offering to the god, and the results be treated as the prasadha (karma phala) that we receive from him.

This reminds me of the following well-established laws of life.

"tena tyaktena bhunjitha"
Meaning: Enjoy the world through giving up the fruits of actions.

It simply means that a non-egoistic person is freed from possessiveness, and a similar attitude towards action can make life more enjoyable. By getting rid of our ego, we realize that in essence we are devine (atma-bhava). When actions are performed in the spirit of detachment, we learn the lesson of sharing with others.

"sarvam khalvidam brahma"
Meaning: Everything in this universe is Brahman (the ultimate truth)

It means that all earthly possessions are a result of god's grace on us, and not truely ours. So, we should make a significant effort to give back atleast a fraction of what we receive. We give back by offering services to others. Offering includes sharing of money, possessions, knowledge, time, and various skills.

Ref: The Vedanta Kesari (Nov’06)