Dear Sruthi
may be check: http://www54.sap.com/solution/lob/sustainability/software/ehs-regulatory-content/index.html
I am not familiar with the SERC packages; there a several types of them. At the end you get "full" support in EHS topics in SAP (e.g. starting form using templates, rulesets, data management etc.)
May be others can highlight this topic more. Sorry.
C.B.
PS: e.g. check: http://help.sap-ag.de/saphelp_ehsrcm10/SAP_EHS_Regulatory_Content_Whats_new_in_2012_2.pdf or similar pages as well.
PPS: Check: http://help.sap.com/ehs-od