Finance

Sustainability Initiatives at Serum Institute

About Serum Institute

The Serum Institute of India (SII) was established in 1966 by Cyrus Poonawalla, the father of Adar Poonawalla. Over time, it has become the leading vaccine manufacturer globally, producing and distributing the highest vaccine doses. The institute’s vaccines reach approximately 170 countries and are distributed through various programs affiliated with the World Health Organization (WHO).

The Serum Institute of India (SII) commenced its journey to produce critical life-saving immuno-biologicals. These vaccines were scarce within the country and often had to be imported at considerably high costs. SII specializes in manufacturing vaccines such as the Polio vaccine and vaccines for Diphtheria, Tetanus, Measles, and various other crucial immunizations.

How it started

Cyrus Poonawalla, Adar’s father, established the Serum Institute of India in 1966 in response to the challenge of imported, costly, life-saving vaccines that were beyond the reach of most of India’s population.

Initially involved in horse breeding, Cyrus inherited and managed his family’s racehorse breeding farm. He discovered that horse serum was a crucial component in numerous vaccines, and retired horses from his farm were contributed to the state-owned Haffkine Institute to aid in vaccine production.

The company’s inaugural product was the tetanus vaccine, introduced in 1967.

The Serum Institute of India (SII) is the world’s largest vaccine manufacturer, producing and selling approximately 1.5 billion doses annually. By the conclusion of 2021, the company is set to ramp up its production to over 3 billion doses annually, with 1.5 billion allocated for Covid-19 vaccines. 

Effective portfolio management allows investors to develop effective investment options. The sustainability initiatives of the company are one of the important features to consider while making investment options. 

Sustainability Initiatives

Serum Institute of India is dedicated to fostering sustainable social, environmental, and economic progress. Here are some notable initiatives:

Adar Poonawalla Clean City Initiative: Introduced in 2016, this initiative endeavors to enhance the livability of urban cities in India through eco-friendly practices. Adar Poonawalla pledged ₹100 Crores to this cause, focusing on efficient solid waste management, particularly organic waste, and offering support to the Pune Municipal Corporation. The initiative aims to cover all major roads in Pune by 2017.

Mobile Health Care: Serum Institute extends free primary healthcare services to rural communities through Mobile Medical Units. These units serve as crucial means for delivering essential medical facilities in remote Indian regions.

Vaccine Supply: The institute has generously donated millions of vaccine doses to countries such as Uzbekistan, Lao Democratic Republic, Nepal, and the Philippines. These contributions aid in mass immunization programs against diseases like Measles and Rubella.

Green Initiatives: Acknowledging the correlation between energy, environment, and climate change, Serum Institute actively reduces reliance on fossil fuels. The organization engages in renewable energy projects, including wind power generation, solar lighting, and carbon-neutral solid fuels like bagasse briquettes.

Villoo Poonawalla Memorial Hospital: Positioned along the Pune-Solapur Highway, this multispecialty hospital offers high-quality treatments at affordable rates, mainly catering to individuals below the poverty line.

Vaccine Development Collaborations: The institute collaborated with the Jenner Institute at Oxford University to develop the R21/Matrix-MTM malaria vaccine, supported by diverse organizations.

Serum Institute’s commitment to sustainability encompasses healthcare and societal and environmental initiatives, making a positive and enduring impact.

Serum Institute actively engages in green initiatives that underscore its commitment to reducing reliance on fossil fuels and addressing environmental concerns. The company has implemented several renewable energy projects using carbon-neutral solid fuels like bagasse briquettes, including wind power generation, solar lighting, and steam generation. Additionally, Serum Institute conducts detailed environmental and energy assessments to gauge its carbon footprint and identify opportunities for curbing carbon dioxide emissions.

Wind Power Projects:

In line with its environmental goals, Serum Institute has installed 57.2 MW wind power projects to reduce greenhouse gas emissions significantly. These projects play a vital role in minimizing environmental impact and displacing conventional fossil fuels by harnessing wind energy. Approximately 85% of the company’s energy needs are met through wind power. Serum Institute has been recognized for its environmental management practices and has obtained Certificates of Emission Reduction (CER).

Briquette Boiler Project:

The institute has commissioned a steam generation project utilizing bagasse briquettes, a carbon-neutral solid fuel. This initiative replaces fossil fuels like furnace oil and LDO, contributing to reduced greenhouse gas emissions and conserving natural resources. Furthermore, the production of briquettes generates employment opportunities and supplemental income for farmers, benefiting around 70% of India’s agricultural population.

Energy and Water Conservation Initiatives:

Serum Institute focuses on water efficiency by recycling approximately 60 to 65% of wastewater generated during operations. Additionally, the company utilizes solar street lighting, ensuring a non-polluting electricity source independent of the utility grid. These initiatives demonstrate the company’s commitment to sustainable practices and environmental responsibility.

What is the Serum Institute of India share price

As the curiosity around the company heightened, people questioned the Serum Institute of India share price. As Serum Institute of India is privately held, its shares aren’t available for public purchase, and it’s not listed on the stock exchange. However, several other promising investment opportunities offer potential returns over the next few years.

 

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