Piramal Pharma releases its Sustainability Report for FY 2023-24 under the theme, 'Building Resilience for a Sustainable Tomorrow'

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Oct 04, 2024, 06:43 ET

MUMBAI, India, Oct. 4, 2024 /PRNewswire/ -- Piramal Pharma Limited (PPL) (NSE: PPLPHARMA) (BSE: 543635) has released its third independent annual Sustainability Report for the financial year 2023-24, under the theme 'Building Resilience Today for a Sustainable Tomorrow.' The report highlights Piramal Pharma's approach across four key strategic pillars: Responsible Operations, Business Resilience, Customer Centricity, and Quality & Excellence. These pillars underscore the company's focus on climate action, supply chain responsibility, innovation, and operational excellence, all while ensuring the well-being of its employees and the communities it serves.

PPL is dedicated to 'Operating Responsibly, Growing Sustainably,' with a vision to become a global leader in pharmaceuticals, driven by sustainability, inclusivity, and ethics. PPL's comprehensive strategy integrates sustainability principles across all operations and decision-making, focusing on 12 key areas and 28 material topics, supported by over 50 specific time-bound targets. This framework ensures PPL to effectively manage its sustainability responsibilities and drive meaningful impact across its global operations and value chain.

Nandini Piramal, Chairperson of Piramal Pharma Ltd., said, "As we advance on our sustainability journey, we are deeply committed to transparency, accountability, and continuous improvement in our business practices. Our latest Sustainability Report not only highlights the milestones we've achieved but also demonstrates our capability to adapt to evolving global standards. By revising our Scope 1 and 2 GHG emissions and energy consumption for FY 2023, we have significantly improved data accuracy, enabling us to assess and manage our environmental footprint. Looking ahead, we remain committed to driving sustainable growth; reinforcing our core purpose of 'Doing Well and Doing Good,' while strengthening our focus on making meaningful, measurable progress toward a more sustainable future."

Key Highlights of the Report:

Responsible Operation

PPL has made substantial progress in its energy efficiency efforts, with a 29% increase in renewable energy consumption. The company is committed to reducing absolute Scope 1 and 2 GHG emissions by 42% and Scope 3 emissions by 25% by FY 2030, using FY 2022 as the base year as validated by the Science Based Targets initiative (SBTi).
Energy audits were completed at all sites, identifying opportunities for emission reductions through renewable energy sourcing (13%), low-carbon fuel switching (21%), and energy efficiency measures (7%).
In both India and the UK, 80% of non-hazardous waste was recycled and the company planted 2,440 saplings and implemented 15 water-saving micro-projects in India, resulting in 114 kilolitres of water savings per day.

Business Resilience

PPL introduced a Sustainable Procurement Policy and revised its Supplier Code of Conduct, ensuring sustainable practices across its supply chain. Initiatives included the rollout of multi-factor authentication for O365 and enhanced data protection protocols for North American sites, as well as conducting Vulnerability Assessment and Penetration Testing (VAPT) scans. PPL continues to invest in a diverse, inclusive, and accessible workplace, with women representing 17.3% of its global workforce, including 72% of new campus hires.
Through comprehensive safety and health programs, PPL maintains a Lost Time Injury Rate (LTIR) below 0.2 per 200,000 person-days.
PPL rolled out a sustainability e-learning module for employees, and approximately 200 senior leaders in India participated in Diversity, Inclusion, Belonging, and Accessibility (DIBA) workshops.

Quality & Excellence

In FY 2024, PPL successfully completed 341 regulatory inspections, including 44 by the U.S. FDA, with no critical observations. Additionally, close to 1,746 customer audits were conducted across global operations.
Automation has been a key driver of efficiency, with 70% of six major operational excellence KPIs automated across 11 sites. The company introduced 23 new robotic process automation (RPA) processes, bringing the total to 54 live processes.

Customer Centricity

PPL achieved a customer satisfaction score of 85% for its Contract Development and Manufacturing Organization (CDMO) business and 87% for its Consumer Healthcare (CHG) business. The Net Promoter Scores (NPS) were 57 and 65 for the CDMO and CHG businesses, respectively.

The Sustainability report follows GRI standards and is aligned with SASSB and UNGC frameworks, underscoring PPL's commitment to sustainable growth, responsible capital allocation, and impactful stakeholder engagement. For more information, please refer to the full report available at https://www.piramalpharma.com/sustainability.

About Piramal Pharma Ltd:

Piramal Pharma Limited (PPL, NSE: PPLPHARMA I BSE: 543635), offers a portfolio of differentiated products and services through its 17* global development and manufacturing facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a complex hospital generics business; and the India Consumer Healthcare business, selling over-the-counter consumer and wellness products. In addition, one of PPL's associate companies, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has emerged as one of the market leaders in the ophthalmology therapy area in the Indian pharma market. Further, PPL has a strategic minority investment in Yapan Bio Private Limited, that operates in the biologics / bio-therapeutics and vaccine segments. In October 2020, PPL received a 20% strategic growth investment from the Carlyle Group.

For more information visit: Piramal Pharma | LinkedIn

*Includes one facility through minority investment in Yapan Bio

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SOURCE Piramal Pharma Ltd