This Diamond Crafter Is Committed to a Net-Zero Mission by 2024

Pioneering sustainability for six decades, the family-run, legacy diamond crafter SRK has taken a holistic approach to achieve net-zero status by 2024.

“Problems are actually a good thing,” says Govind Dholakia, founder of the renowned natural diamond crafting and exports company Shree Ramkrishna Exports Pvt. Ltd. (SRK). “Whenever we encounter problems, we are motivated to think of ways to overcome them—and that’s the first step towards progress. It helps us emerge from them stronger, together.”

While diamond crafters are focused on creating the most beautiful gemstones over all else, there is much more that the diamond industry contributes to improving the world we live in, notably in the areas of reducing carbon footprint and optimising for energy efficiencies. Through a decades-old commitment to environmental and social responsibility, SRK exemplifies how to take action, proving that compassion for the environment can be as glamorous as the most brilliant diamonds.

From Pure Light to Pure Impact

SRK is a family-run enterprise with three generations of leadership. To understand its commitment to environmental and social responsibility and acceleration of its net-zero goals, we need to look no further than its inaugural Pure Impact Report. The goal of the report is to highlight SRK’s six decades of sustainability initiatives while also offering a thorough strategy and roadmap to net-zero to the diamond industry at large.

“SRK’s spectrum of impact spans from emergency relief to healthcare to education. Yet, the lasting impact depends on our commitment to decarbonization and meeting targets swiftly,” writes Govind Dholakia in the Pure Impact Report. While SRK’s environmental action plan is multifaceted, its flagship effort is achieving net-zero status for its diamond crafting facilities by 2024.

Net-zero status requires a holistic commitment in manufacturing to reduce greenhouse and carbon emissions. Inspired by #COP28UAE’s call to transition to renewable energy, this initiative takes several dynamic forms at SRK: net-zero waste, water, energy, and carbon. Solar power, biogas, and sewage treatment plants are being set up at both of SRK’s facilities, along with other efforts to introduce recycling, e-waste management, and reducing the use of disposable plastic.

Even the design of the buildings is environmentally conscious: double wall construction and double glazing for windows reduce heat load.

Based in Surat, Gujarat, SRK also ensures that they’re in step with contemporary, global advances. “With the release of our inaugural Pure Impact report, SRK is living up to that call to action, and leading by example in real-time,” says Shreyans Dholakia. “For the first time, SRK is identifying publicly how our initiatives serve to align with the United Nations Office for Sustainable Development (UNOSD) first outlined in the 2015 Paris Agreement. Specifically, we demonstrate how our commitment to decarbonization will be a driving force behind our expansion as a multinational company. We want to ensure that the diamond industry leads the response to the existential threats of increased emissions and a warming world.”

In collaboration with the Global Network for Zero, they are working hard at their ambitious timeline for zero emissions leadership.

A 2021 study by the De Beers group found that for one-third of customers, support for local communities and the minimization of environmental impact were the most valued factors when deciding to buy a natural diamond. At SRK, these factors are priorities too. “More than anything else, a legacy brand is about understanding that we are stewards of something much bigger than any single individual or product,” says Shreyans Dholakia.

As a family-run enterprise with deep connections to its home state of Gujarat, supporting local communities is a natural extension of the SRK family values. Through its philanthropy arm, SRK Knowledge Foundation (SRKKF), the company contributes 4.5% of its average net profit towards community welfare initiatives such as quality education, healthcare, skill development, and sustainable livelihood opportunities.

A deep reverence for the environment comes naturally to the organisation: its founder and chairman, Govind Dholakia, hails from a family of farmers in Dudhala, Gujarat’s Amreli district—and compassion for nature and community is embedded into every aspect of this family-run enterprise.

As climate change increases the frequency of environmental disasters, SRKKF is at the forefront of providing disaster relief and rehabilitation to the most vulnerable communities. In the aftermath of Cyclone Tauktae in 2021, SRKKF distributed solar lights to affected villages in Gujarat where electricity had been cut off to provide light and help charge mobile devices. Over the years, over 100,000 households have benefited from SRKKF’s disaster relief efforts.

Interestingly, SRK’s community and energy initiatives go hand in hand: SRK is working to solarize Dudhala village, to spread the use of renewable energy in rural India and to help make Dudhala a self-reliant “green village.” At home in Surat, their diamond crafting facilities, SRK House and SRK Empire, are listed among the world’s top five green buildings in Arc. To maintain this status, SRK has invested nearly $1 million to install rooftop solar panels in its facilities.

“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,” says Govind Dholakia. In 2023, SRK hosted its inaugural SRK Sustainability Conclave, a first-of-its-kind venture to communicate a roadmap for net-zero realisation. Not only did this help raise awareness amongst others in the industry, but it also put out an urgent call to action towards making this a reality for all.

“A zero emissions India and the world is the vision. Protecting what we have created thus far and preserving our ability to provide quality and transparency well into the future must be rooted in one simple but profound understanding: diamond craftsmanship cannot endure without decarbonization,” says Shreyans Dholakia. The natural diamond industry is well-placed to be a trailblazer in these efforts—especially with companies like SRK at the forefront.