Sustainable development practices are our most valuable weapon against global challenges, says Malabar Gold & Diamonds Chief

“We’ve started implementing numerous environment-friendly and energy-efficient features such as the promotion of clean energy, wastewater treatment and the usage of cutting-edge machinery across our manufacturing facilities. Our supply chain, right from the sourcing of raw materials to our retail establishments, functions in a completely responsible and sustainable manner,” said Shamlal Ahamed, Managing Director – International Operations, Malabar Gold & Diamonds during an exclusive Q&A with IMAGES RetailME.

Before getting into the Q&A, here’s a quick look at the Malabar International Hub, the operational hub of jewellery retail chain Malabar Gold & Diamonds’ international operations located in Dubai Gold Souk.

• A LEED Gold-certified building that saves around 17% energy and 40% water compared to the industry baseline.
• Forest Stewardship Council wood has been used for the interiors.
• 75% of the building’s construction waste is recycled or repurposed.

Tell us about the Group’s multidirectional sustainability initiatives?

We take a multifaceted approach towards sustainability. This includes the legal and ethical sourcing of raw materials (LBMA & UAE Good Delivery sourced gold, Kimberly process certified diamonds), eco-friendly and energy efficient manufacturing processes, labour-friendly policies and practices, 100% compliance to the rules and regulations of the land, adherence to both Anti-Money Laundering policies as well as policies to combat the Financing of Terrorism, usage of FSC certified wood for packaging and LEED gold certified retail offices and outlets. On the other hand, we’ve been carrying out socially beneficial initiatives since our inception in 1993 primarily in the areas of health, education, hunger eradication, housing and women empowerment. The Group sets aside 5% of net profits towards such activities in every region that we operate in.

What kind of collaborations are you building with internal and external stakeholders to achieve Malabar Gold & Diamonds’ sustainability goals?

All stakeholders in our organisations, be it our customers, employees, shareholders and associates are imperative to us achieving our sustainability goals. We’ve partnered with the Natural Diamond Council (NDC), a non-for-profit organisation dedicated to supporting and promoting the natural diamond industry to highlight the integrity and sustainability, as well as the emotional value of natural diamonds. The establishment of zero-emission factories, usage of FSC-certified packaging and alternate energy, every aspect highlights how all our stakeholders work hand in hand towards the benefit of business, society and the environment.

How vital it is to understand and implement sustainable development principles to build a better world for the future generations?

Understanding and implementing sustainable development principles is imperative to leave behind a better world for future generations. By undertaking all possible measures to protect the environment, conserve resources and uplift the society at large, we can all contribute towards a better tomorrow. Sustainable development practices are our most valuable weapon against global challenges that the world is facing today and if used in the right manner, we can ensure a live-able, prosperous and a balanced future.