Climate Change Data

D.P. Abhushan Limited

Climate Impact & Sustainability Data (2023-24)

Reporting Period: 2023-24

Environmental Metrics

Total Carbon Emissions:Nil*
Scope 1 Emissions:Nil
Scope 2 Emissions:Nil
Scope 3 Emissions:Nil
Renewable Energy Share:0%
Total Energy Consumption:11.60 Lakh units (2023-24); 12.72 Lakh units (2022-23)
Water Consumption:2035.84 kiloliters (2023-24); 1861.75 kiloliters (2022-23)
Waste Generated:Nil
Carbon Intensity:Not specified

ESG Focus Areas

  • Energy Conservation
  • Technology Absorption
  • Corporate Social Responsibility
  • Risk Management
  • Business Responsibility and Sustainability
  • Human Rights
  • Data Privacy

Environmental Achievements

  • Nil major steps taken, but continued endeavor to improve energy conservation and utilization through technology upgrades resulting in better quality, production, and cost reduction.
  • No alternate source of energy installed.

Social Achievements

  • Nil complaints received on sexual harassment.
  • Implemented Anti-Sexual Harassment Initiative (ASHI) framework.
  • CSR initiatives focusing on health, education, environment, and community welfare.

Governance Achievements

  • Established a Vigil Mechanism for reporting unethical behavior and fraud.
  • Adopted a Nomination and Remuneration Policy.
  • Implemented a policy for related party transactions.
  • Implemented a robust risk management mechanism.

Climate Goals & Targets

Long-term Goals:
  • Develop a long-term ESG framework aligned with international protocols.
Medium-term Goals:
  • Reduce water withdrawal and promote responsible water management practices.
Short-term Goals:
  • Expand training on ESG practices for all employees and workers.
  • Conduct due diligence on suppliers to ensure alignment with governance values.
  • Design 100% recyclable and reusable products.
  • Reduce electricity consumption by at least 1% annually, aiming for 20% reduction by 2035.

Environmental Challenges

  • Gold price volatility.
  • Climatic vulnerabilities impacting agricultural activities and disposable income.
  • Economic fluctuations affecting consumer spending.
  • Seasonal sales variability.
  • Cost management challenges.
  • Regulatory changes.
  • Predominance of an unorganized market sector.
  • Political fluctuations impacting capital markets.
  • Economic liberalization risks and increased competition.
  • Dependency on external markets (US market for diamonds).
  • Export vulnerabilities due to foreign economic shifts and international trade policies.
Mitigation Strategies
  • Daily average gold buying to match sales as a natural hedge against price fluctuations.
  • Expanding reach through new showrooms and economies of scale.
  • Strategic material procurement to reduce costs.
  • Customer-centric approach to pricing and product offerings.
  • Implementing fair trade practices and comprehensive product labeling.
  • Strengthening internal financial controls.
  • Focusing on rural markets and introducing new products.
  • Improving customer service and maintaining a strong brand image.
  • Careful selection of ethical suppliers with a proven track record.
  • Regular communication with suppliers to ensure quality, pricing, lead time, and social responsibility standards.

Supply Chain Management

Supplier Audits: Not specified, but due diligence is conducted on suppliers.

Responsible Procurement
  • Traceability system to track raw material origin.
  • Policies and guidelines outlining commitment to ethical practices.
  • Establishment of long-term relationships with suppliers.
  • Regular assessment of supplier performance.
  • Collaboration with stakeholders to promote sustainable sourcing.

Climate-Related Risks & Opportunities

Physical Risks
  • Poor monsoon seasons impacting disposable income.

Reporting Standards

Frameworks Used: Ind AS, SEBI (LODR) Regulations, 2015, Companies Act, 2013

Certifications: Bureau of Indian Standards (BIS) hallmarking

Third-party Assurance: Jeevan Jagetiya & Co., Chartered Accountants

Sustainable Products & Innovation

  • Exploring and evaluating alternative materials to replace plastic in packaging.

Awards & Recognition

  • Best Ring Design at IJJ Jewellers Choice Design Awards
  • Best Business Ethics Award at Gem and Jewellery Trade Council of India
  • Excellence Award
  • Best Promising Gems & Jewellery Company by India Bullion and Jewellers Association Ltd.
  • Best Bridal Diamond Jewellery of The Year Special Excellence Award
  • Best Brand of the Year by RED FM
  • Honoured as Legends of Gems & Jewellery Industry
  • Best Retail Jeweller of the Year, Dubai