SourcingJul 01, 2024
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SRK Announces Notable Reduction in Greenhouse Gas Emissions
Late last year, the India-based diamond manufacturer recorded emissions per carat that are 34 percent lower than the industry average.
Shree Ramkrishna Exports announced on International Reducing CO2 Emissions Day, which is observed every Jan. 28, that when it comes to manufacturing natural diamonds, its greenhouse gas emissions are now 30 percent below the industry average.
Ahmedabad, India—India-based diamond manufacturer Shree Ramkrishna Exports (SRK) has been working on its sustainability goals for about a decade, focusing on its zero emissions initiatives.
Recently, the company announced that its greenhouse gas emissions are now 34 percent lower than the global industry average.
In November 2024, SRK said it recorded emissions of just 70.49 kgCO2e per carat of natural diamond.
On average, 160 kg of greenhouse gases are released per polished carat of mined diamond, according to a 2019 report for the Diamond Producers Association (which became the Natural Diamond Council in 2020).
SRK said its data has been independently verified and validated by ISO certification body Deutsch Quality Systems (India) Pvt. Ltd., ensuring compliance with international standards such as the Greenhouse Gas Protocol, ISO 14064, and ISO 14067.
SRK announced the achievement on International Reducing CO2 Emissions Day, celebrated annually on Jan. 28.
“We are committed to creating a positive and lasting impact, not just for our business but for the global natural diamond industry,” said Nirav Mandir, chief human capital and sustainability officer at SRK.
“By addressing Scope 1 and Scope 2 emissions and now targeting Scope 3, we are building a sustainable future that will benefit both our industry and the planet.”
According to the World Economic Forum, Scope 1 encompasses “direct” emissions, a result of operating things a company owns or controls, such as driving vehicles or heating buildings, while Scope 2 refers to “indirect” emissions created by the production of the energy that an organization buys.
Scope 3, however, refers to indirect emissions not produced by a company itself but rather by customers using the company’s products or those produced by suppliers making products that the company uses.
It generally requires much more effort to tackle, according to the World Economic Forum.
SRK said it is focused on further reducing emissions by expanding its use of renewable energy, particularly solar power, across its facilities.
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Recently, the company announced that its greenhouse gas emissions are now 34 percent lower than the global industry average.
In November 2024, SRK said it recorded emissions of just 70.49 kgCO2e per carat of natural diamond.
On average, 160 kg of greenhouse gases are released per polished carat of mined diamond, according to a 2019 report for the Diamond Producers Association (which became the Natural Diamond Council in 2020).
SRK said its data has been independently verified and validated by ISO certification body Deutsch Quality Systems (India) Pvt. Ltd., ensuring compliance with international standards such as the Greenhouse Gas Protocol, ISO 14064, and ISO 14067.
SRK announced the achievement on International Reducing CO2 Emissions Day, celebrated annually on Jan. 28.
“We are committed to creating a positive and lasting impact, not just for our business but for the global natural diamond industry,” said Nirav Mandir, chief human capital and sustainability officer at SRK.
“By addressing Scope 1 and Scope 2 emissions and now targeting Scope 3, we are building a sustainable future that will benefit both our industry and the planet.”
According to the World Economic Forum, Scope 1 encompasses “direct” emissions, a result of operating things a company owns or controls, such as driving vehicles or heating buildings, while Scope 2 refers to “indirect” emissions created by the production of the energy that an organization buys.
Scope 3, however, refers to indirect emissions not produced by a company itself but rather by customers using the company’s products or those produced by suppliers making products that the company uses.
It generally requires much more effort to tackle, according to the World Economic Forum.
SRK said it is focused on further reducing emissions by expanding its use of renewable energy, particularly solar power, across its facilities.
Following its adoption of renewable energy sources like rooftop solar power, along with waste management and sewage treatment initiatives, SRK was recognized in May 2024 by the Global Network for Zero as the world’s first diamond manufacturing company to operate with net-zero energy.
It continues to work toward net-zero efforts for water, waste and carbon.
Its diamond manufacturing facilities, SRK Empire and SRK House, rank among the top five “green” buildings globally, the company said. Both have LEED Platinum certification from the U.S. Green Building Council.
The company also said it boasts the highest number of ISO certifications in the industry.
SRK operates with what it calls a “cradle-to-grave” strategy, a comprehensive effort to cover every stage of the diamond lifecycle, starting with extracting the raw material.
The company said it is working to lead the way in reshaping the natural diamond industry and demonstrating how luxury can coexist with sustainability.
It remains focused on quality, environmentally responsible practices, and health and safety.
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