New Delhi, August 9, 2024: Jubilant Pharmova, a leading global pharmaceuticals and life sciences company, has once again reaffirmed its strong commitment to sustainability through the publication of its Business Responsibility and Sustainability Report for the financial year 2023. This comprehensive report illustrates the massive steps taken by the Company in its efforts toward infusing ESG into operations, thereby making a highly critical milestone in its continuous journey toward business practices that are responsible and sustainable.
Sustainability at the Core
At the very core of its business strategy, Jubilant Pharmova has a commitment to sustainable growth. This report best captures this very essence of commitment through an account of the continuous reduction in ecological impact, enhancement of social responsibility, and adherence to strong frameworks of governance. Jubilant Pharmova used the global ESG standards as a benchmark and has a belief system in long-term value creation for stakeholders by answering the twin challenges that climate change and social equity have thrown at humankind today.
The BRSR showcases how Jubilant Pharmova has integrated sustainability into every business process. Firms believe that this journey towards sustainability is unending and will continue to demand innovation, investment, and a fierce commitment to ethical values. By giving precedence to ESG issues, Jubilant Pharmova is not only fulfilling its corporate responsibility but is also working towards ensuring a cleaner, greener environment for generations to come.
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Jubilant Pharmova has been successful in reporting many other areas relating to environmental sustainability. This involves other initiatives in energy efficiency, better waste management, and reduction of GHG emissions. All these initiatives are part of a bigger plan on reducing the ecological footprint of the company’s operations and contributing to the global fight against climate change.
Probably the most positive point that can be realized from the report is the increased investment that Jubilant Pharmova has done in renewable energy sources. Jubilant Pharmova has shown appreciable growth in the usage of renewable energy, which in a way has reduced the usage of fossil fuel and thus consequentially helped in reducing carbon emissions. Jubilant Pharmova has also explored state-of-the-art technologies aimed at reducing the impact on the environment, thus further consolidating its position as one of the leading companies in businesses with reduced carbon footprints.
Its environmental stewardship is also reflected beyond direct operations. Jubilant Pharmova is actively involved in promoting environmental sustainability in the pharmaceutical sector through different initiatives. It shares best practices with stakeholders and collaborates to enable improvement in the industry toward a more sustainable industry in the future.
**Social Responsibility and Community Engagement**
Jubilant Pharmova has a robust commitment towards social responsibility as well. At the very forefront, it has been accelerating efforts to make its operations more inclusive and community-oriented with concern to health, education, and skill development. Outreach programs have been extended to Jubilant Pharmova’s operational communities, intending to improve the quality of life in local populations.
Accord-ing to BRSR, these activities have taken delivery on gigantic positive outcomes, affecting thousands of lives. For instance, the group’s health programs have delivered crucial medical care where it is most needed: to the underserved communities. Its education programs have equipped young people with the skills required for success in the modern economy. By making such investments in social programs, Jubilant Pharmova has not only acted in corporate social responsibility but contributed to the societal good.
The company’s commitment to social responsibility is deeply rooted in its corporate culture. Jubilant Pharmova believes that its corporate success is linked with the prosperity of the people where it operates and is therefore committed to building healthy relations with such communities. This has greatly enhanced the company’s reputation as a socially responsible corporate citizen and as a valued partner in community development.
Good Governance
Corporate governance is one of the main pegs to the ESG strategy at Jubilant Pharmova. The BRSR has been used to underline its efforts ongoing in ensuring the best level of corporate governance—already a prerequisite to retaining stakeholders’ trust and achieving long-term business success. Jubilant Pharmova follows tight governance practices which are aligned to transparency, accountability, and ethical behavior all around.
These governance practices are designed to protect the interests of all stakeholders, including investors, employees, customers, and the communities in which Jubilant Pharmova operates. The company’s commitment to ethical conduct is reflected in its strict adherence to regulatory requirements and proactive risk management and corporate compliance initiatives.
Apart from its internal governance practices, Jubilant Pharmova has also committed to promoting good governance across the pharmaceutical industry. The company actively participates in industry forums and works with other stakeholders in its attempt to advance best practices within the corporate governance domain. Jubilant Pharmova leads by example to help set a higher governance standard across the industry.
A Vision for the Future
Looking ahead into the future, Jubilant Pharmova rededicates itself to the actualization of its preset ESG goals. At the heart of this commitment is a heightened focus on deeper entrenchment of sustainability into the company’s business strategy, with continual improvement at its core. Jubilant Pharmova has, therefore, set stretch targets for the improvement of its environmental performance, growing its social impact, and ensuring high standards of governance.
In the long run, Jubilant Pharmova aims to be recognized as a leader in practices of sustainable business in the pharmaceuticals business. For this, the company has shown a determination to invest in new innovative technologies, to source an increasing share of renewable energy in production, and to go deeper in dealing with society and liaising with stakeholders. By these steps, it will ensure that the company is on its way to growing a more robust, more sustainable business that will prosper in a world full of complexities and interconnections.
This forward-looking approach is reflected in the company’s future priorities: relentlessly enhancing and diversifying its product offering and stepping up digital capabilities to expand, moving towards newer markets with a sharper focus on ESG. In doing so, Jubilant Pharmova balances looking at many more great opportunities ahead with remaining deeply invested in core values of sustainability and responsibility.
Conclusion
The 2023 Business Responsibility and Sustainability Report at Jubilant Pharmova is emblematic of its long-standing commitment to ESG principles. By weaving sustainability into the core of their business model, Jubilant Pharmova contributes to a healthy planet and society while ensuring long-term business resilience and success.
This commitment to ESG goes to set the standard for the pharmaceutical industry, standing tall as an example to corporates wanting to maximize their bottom line without hurting social and environmental concerns. As Jubilant Pharmova ups the ante on possibilities with business purpose, it is clearer than ever that ESG is hardwired into its strategy and will continue propelling further innovation, growth, and positive impact.