SRK ACCELERATES NEW SUSTAINABILITY STANDARD FOR DECARBONIZING INDIA AND THE GLOBAL DIAMOND INDUSTRY

7th May 2024

Globally-renowned natural diamond crafting company Shree Ramkrishna Exports Pvt. Ltd. (SRK) announced today a trailblazing achievement toward emissions elimination. Initially set to reach net zero emissions at its two flagship crafting facilities, SRK House and SRK Empire, in 2030, SRK joined forces with the world’s premier net zero certification body, the Global Network for Zero (GNFZ), to accelerate its target to 2024

The announcement of the company’s intent to accelerate came during last year’s inaugural SRK Sustainability Conclave, which showcased SRK’s six decades of impact in emergency relief operations, healthcare, education, community development, environmental preservation, and more. At the conference, Founder and Chairman Shri Govind Dholakia unveiled SRK’s comprehensive roadmap for Scope 1, 2, and 3 emissions elimination. In addition, he announced the commissioning of SRK’s first Pure Impact Report, a detailed account of the company’s sixty-year commitment to advancing ESG, the UN Sustainable Development Goals, and a blueprint for what the leader described as the “crown jewel” of its efforts going forward — decarbonising operations and becoming a key player in establishing a net zero India and world.

Already two of the highest performing LEED-certified buildings in the world, SRK House and SRK Empire, were originally targeting a 2030 completion for each facility. However, after teaming up with GNFZ, a revolutionary new net zero certification body founded by former U.S. Green Building Council President and CEO Mahesh Ramanujam, SRK was able to create an implementation strategy and accelerate a 2024 delivery for the net zero certification of both projects.

“We partnered with GNFZ because as the leading purveyor of natural diamonds, we know we have a responsibility to decarbonise our sector and to set an example for other companies in India working to pursue more sustainable operations,” says Shri Govind Dholakia.

Dholakia also cites a sense of urgency and accountability as a driving force in his decision-making, saying, “India has a national net zero goal of 2070. At SRK, we believe that this timeline must be accelerated for the survival and betterment of all and that business leaders in India can play a pivotal role in leading our nation forward. I knew that accelerating to 2024 would be a chance for us to lead by example. Knowing we beat even our end-of-year deadline opens the door for us to replicate our transformation at scale and across operations.”

Strategies SRK has employed at their facilities to meet GNFZ certification requirements include installing an off-site 6 MW solar power plant to mitigate their entire Scope 1 and 2 emissions, and, for Scope 3, converting all cars owned by SRK to electric, installing solar-power electric vehicle charging stations, creating an app to track employee daily commute modes and practices, and planting trees over a 200-acre land area. For the next chapter of their decarbonisation journey, they will pursue net zero certifications for water, waste, and energy, as well as GNFZ’s net zero certification for business.

GNFZ’s Ramanujam believes SRK’s commitment to acceleration is telegraphing what’s possible for the net zero frontier in India: “Under the leadership of Shri Govind Dholakia, SRK has been able to harness our process and methodology to accelerate their targets in record time. As a result, they are paving the way for other Indian business leaders to leverage partnerships and decarbonise operations, all while protecting people, planet, and purpose.”

SRK’s certification reaffirms its enduring commitment to pursuing and sustaining a zero-emissions future. In addition, the trailblazing decarbonisation work of SRK is a signal to the Indian diamond sector and the Indian business community at large that, as GNFZ cites in their mission, now is the time to bring “net zero within reach” for all. The GFNZ team will continually monitor the company’s data, verify its net zero achievements, and ensure it sustains world class zero emissions performance.