Home » CSR in India » Piramal Strengthens Governance Framework For Sustainability

CSR in India

Piramal Strengthens Governance Framework For Sustainability

Governance Framework For Sustainability

Piramal – Governance Framework For Sustainability strengthened

Governance Framework For Sustainability – Piramal Enterprises (PEL) is a multinational pharmaceutical and financial services firm with operations in 39 countries. The company ended the year with revenues of Rs 12,809 crore, with the pharma division accounting for 45 percent of the total. It had a net profit of Rs 2,627 crore. 
 
Earlier this year, PEL finalized its acquisition of DHFL and announced plans to demerge the two firms, resulting in two separate publicly traded entities operating in the financial services and pharmaceutical industries. The injection of cash into PEL’s pharma sector by the US-based private equity firm Carlyle Group resulted in a lower net debt-to-equity ratio of 0.4x in FY21 compared to 0.9x in FY20. PEL’s pharmaceutical division has introduced more than 15 new goods.

Governance Framework For Sustainability

Strategy for Longevity

PEL has a well-structured environmental governance framework that includes a Governance Committee, Global Sustainability Coordinator, Site Sustainability Sponsor, Site Sustainability Lead, and Site Sustainability Champions for the implementation of the company’s initiatives, even though sustainability is still in its early stages. Last year, the company installed rooftop solar panels with a capacity of 408 kW at its Mumbai headquarters, generating 5,272 MWh per year. Over the previous year, water consumption at manufacturing plants decreased by 8%, while the volume of treated recycled wastewater climbed by 16%. 31 percent of the total incinerable hazardous waste created was submitted for co-processing, and 90% of the leftover solvent was recycled.

CSR

The Piramal Foundation, the charitable arm of the Piramal Group, focuses on CSR in the fields of healthcare and education. Through remote health advice and information programmes, the Piramal Swasthya and Research Institute helped 9.4 crore people. Over 2.5 crore people were given access to healthcare at their homes, and over 3.1 lakh people were given specialised consultations. ??ASARA Tribal Health Program, Aspirational District Transformation Programme (in conjunction with the Government of India), Technical Support Unit, Sustainable Action for Transforming Human Capital, and PRERNA are some of the key efforts under this programme. 
 
PEL’s actions during Covid-19 included a Rs 1 billion engagement with Niti Aayog for Covid alleviation in 112 aspirational areas. In addition, the business established 100 Covid Care centres in tribal and rural areas across India, providing home care assistance to 2 million people.

Gender equality

Over the last two years, the number of female employees at PEL has increased by 10%. During the same time period, the number of women in management roles increased by 17%, with a 39% increase in senior management positions. Programs like Inspiration at Work, Parental Support Scheme, and Second Innings, as well as flexible working rules, childcare support, and a gender-neutral leave policy for the primary caregiver, all helped to boost female representation across PEL’s workforce. 

Read more CSR India news on India Frontline.