SRK Exports has announced its aim to achieve net zero emissions across its operations by the end of 2024. This target is part of the company’s environmental, social, and governance (ESG) strategy, emphasizing its commitment to environmental responsibility.
Implementing Sustainable Practices
SRK Exports operates two major facilities, SRK Empire and SRK House, encompassing over 250,000 square feet. These facilities are central to the company’s manufacturing operations, employing nearly 5,000 staff, and are recognized for their sustainable designs, each achieving LEED Platinum certification.
“The natural diamond industry has an opportunity to make an incredible impact on the environment and global net zero goals; SRK aims to show how it can be done,” stated industry veteran Govind Dholakia, founder and chairman of SRK Exports.
“We’re leveraging every tool at our disposal to protect our staff, the planet, and the people of India and beyond.”
“I believe the world is like a diamond—a tough place to live in, but also inherently beautiful. In order to uncover its beauty, we need to work slowly, consistently, with responsibility and goodwill,” he said in the Pure Impact report.
Innovations and Initiatives
The company’s sustainability efforts date back more than a decade, featuring various practices aimed at reducing its environmental footprint. These include the implementation of building management systems to improve energy efficiency, maximizing natural light and air use, and comprehensive water recycling systems. Recent measures also involve strict monitoring of Scope 1 and Scope 2 emissions, alongside initiatives to address Scope 3 emissions by encouraging sustainable transport options among employees.
He elaborated, “We did a waste audit for both complexes and maintain daily records too. The functioning of the sewage treatment plant and water recycling plant are monitored to see what we are saving and how much we can save from the offsite fresh water requirements.
“And we have an operational solar power plant of 1 megawatt capacity and with an additional 6 megawatt plant that is moving towards completion.”
He further added, “Additionally, we will install a solar-power electric vehicle (EV) charging station, convert all cars owned by SRK to EVs, create an app to track daily commute modes and practices by team members, and report.”
Broader Impact and Industry Influence
The inaugural SRK Sustainability Conclave last year highlighted the company’s role in fostering industry-wide sustainability. The event focused on the potential for cross-sector collaboration to achieve a decarbonized world and emphasized SRK’s initiatives in waste management and promoting sustainable commuting practices.
Commitment to Community and Corporate Responsibility
According to the “Pure Impact” report by Shreyans Dholakia and Rahul Dholakia, the company has maintained a strong focus on community welfare and environmental sustainability. Annually, a portion of its profits is allocated to initiatives ranging from extensive healthcare programs benefiting millions to educational support for over 60,000 students. SRK Exports has also invested in solar energy, with numerous projects aimed at reducing the company’s carbon footprint and supporting local communities.
Mahesh Ramanujam, of the Global Network for Zero, stated, “SRK and Govind are making net zero strides faster and more effectively than many of us ever dreamed possible.”
Looking Ahead
While SRK’s sustainability targets for 2024 are ambitious, they represent ongoing commitments rather than final achievements. The company plans to continuously uphold its certifications and compliance, ensuring its operations remain sustainable. Furthermore, SRK is looking to encourage other organizations within India to adopt environmental goals and is working on a platform to support new decarbonization technologies.
Shreyans expressed the company’s efforts.
“We are stewards of something much bigger than any single individual or product. Protecting what we have created thus far and preserving our ability to provide quality and transparency well into the future is rooted in one simple, but profound understanding—diamond craftsmanship cannot endure without decarbonization.”
Industry Implications
For the jewellery industry, SRK Exports’ efforts offer a practical example of how large corporations can implement and influence environmental standards. This approach shows how sustainability can be integrated into business operations, influencing consumer preferences and potentially shaping regulatory standards.
