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Indian Diamond Giant SRK Exports Races Towards Net Zero Emissions by 2024

Mumbai, India – In a bold move for the gem and jewelry industry, SRK Exports, a leading Indian diamond manufacturer, has announced its ambitious goal of achieving net zero emissions at its two massive facilities by 2024. This commitment positions SRK as a frontrunner in sustainability within the industry, demonstrating its dedication to environmental responsibility.

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With nearly 5,000 employees and occupying over 250,000 square feet, SRK’s two facilities, SRK Empire and SRK House, are set to become models for sustainable diamond manufacturing. “The natural diamond industry has a unique opportunity to contribute significantly to global net zero goals, and SRK is determined to lead the way,” declared Govind Dholakia, founder and chairman of SRK Exports.

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This ambition is backed by concrete action. SRK recently released its “Pure Impact” sustainability report, highlighting its comprehensive approach to environmental, social, and governance (ESG) principles. The report details the company’s long-standing commitment to sustainable growth, rooted in the values instilled in its founder from his childhood experiences.

SRK’s journey towards net zero emissions began over a decade ago when SRK Empire received the prestigious LEED Platinum certification for its eco-friendly design and technologies. SRK House soon followed suit, and today, both facilities rank among the top five LEED-certified buildings globally.

To accelerate its net zero journey, SRK has implemented a range of initiatives, including partnering with the Science-Based Targets initiative and the Global Network for Zero. The company also hosted its inaugural Sustainability Conclave in 2022, fostering cross-sector collaboration and knowledge sharing on best practices for decarbonization.

Among the concrete measures undertaken by SRK are:

Strict monitoring and analysis of Scope 1 and Scope 2 emissions.

Comprehensive waste management systems for various waste streams.

Operational 1 megawatt solar power plant with an additional 6 megawatt plant nearing completion.

Employee campaigns promoting sustainable commuting options like cycling, public transport, and electric vehicles.

Plans to install a solar-powered EV charging station and convert all company cars to EVs.

These efforts are further complemented by SRK’s broader ESG initiatives, which encompass education, healthcare, community development, tree plantation, rural development, and ethical sourcing practices. The company’s dedication to transparency and responsible sourcing is reflected in its PAS 7000 certification for Supply Chain Risk Management.

SRK’s impact extends beyond its own operations. The company has invested significantly in community welfare, with healthcare initiatives benefiting 3.5 million people, education benefits reaching over 60,000 students, and funding the construction of 100 dams in the Saurashtra region.

Mahesh Ramanujam, from the Global Network for Zero, lauded SRK’s efforts, stating, “SRK and Govind are making net zero strides faster and more effectively than many of us ever dreamed possible.”

Looking beyond 2024, SRK aims to maintain its net zero status and inspire other organizations in India to follow suit. The company also plans to establish a climate technology incubation platform to support decarbonization startups and advancements.

Shreyans Dholakia, SRK entrepreneur-brand custodian, summarized the company’s vision: “We understand that diamond craftsmanship cannot endure without decarbonization. We are committed to protecting our planet and ensuring a sustainable future for our industry.”

SRK Exports’ ambitious net zero target and comprehensive sustainability initiatives set a new benchmark for the diamond industry, demonstrating that luxury and sustainability can go hand in hand.

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