A-Star Alliance is an alliance between three independent groups of diamond companies owned by members of the Mehta family- Blue Star Diamonds, Arjav Diamonds and Star Blue. The alliance has the goal to optimize the synergies that the groups share. Individual assets of each group are complemented by strengths of the others, hence creating a strong alliance well equipped to continue its journey in the diamond industry that started with the foundation of Blue Star Diamonds in 1966.
Challenges & Lemon’s Association
With such a large and impactful operation, the alliance recognizes its responsibility to address the sustainability challenges facing the Gems and Jewellery Industry. To achieve its sustainability goals, A-Star Alliance partnered with Lemon Consultech to develop a comprehensive sustainability strategy. To start, Lemon Consultech helped A-Star Alliance integrate environmental, social, and governance (ESG) factors into its business strategy and decision-making processes. This involved assessing the impact of its operations on the environment and society, promoting social and environmental responsibility throughout its value chain, and ensuring that its governance practices are transparent and ethical.
Key Deliveries
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Carbon Footprint Assessment
To understand its greenhouse gas emissions and identify opportunities for reduction, A-Star Alliance conducted a comprehensive carbon footprint assessment. The assessment included measuring its greenhouse gas emissions from operations, including energy consumption, transportation, and waste disposal. Lemon Consultech helped analyze the results of the assessment and identify opportunities for reduction.
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GAP Study
Lemon Consultech’s methodology to perform the gap study covered all elements of social and governance under the 5 heads listed below and not just the environment. This is constantly helping the group to have a strong plan of action in hand for future.
1. Carbon Neutrality
2. Environment protection & use of other resources like water, paper etc.
3. People matters (fair pay, labour laws, gender equality etc.)
4. Sustainability Reporting in Financial Statements
5. Certifications
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Action Plan
Based on the results of the carbon footprint assessment, Lemon Consultech worked with A-Star Alliance to develop a comprehensive action plan that includes both short-term and long-term goals to reduce its carbon footprint. The company has implemented energy efficiency measures, such as optimizing flight routes, installing fuel-efficient engines, and reducing aircraft weight, to reduce energy consumption. Additionally, the company has shifted to renewable energy sources, such as solar and wind power, and implemented a waste reduction program to achieve zero waste generation.
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Employee Engagement
A-Star Alliance understands that employee engagement is critical to the success of its sustainability efforts. The company has implemented a training program to educate employees on sustainability practices and encourage their participation in sustainability initiatives. The program includes training sessions on energy efficiency, waste reduction, and sustainable transportation, among other topics.
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Validation of Business Model in line with Sustainable practices
Reducing waste, reusing, recycling and sharing of resources are key parameters for this validation where Lemon Consultech is helping in adopting a sustainable business model. These practices can help businesses reduce their environmental impact, conserve resources, and promote social sustainability
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ESG Reporting
To ensure transparency and accountability in its sustainability efforts, A-Star Alliance has started reporting on its ESG performance. Lemon Consultech helped the company develop a framework for ESG reporting, which includes tracking progress towards sustainability goals, measuring the impact of its operations on the environment and society, and identifying areas for improvement.
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Use of renewable energy resources
Using the alternate renewable energy resource like solar, wind or hybrid energy is an important element of the sustainability journey where right from the feasibility study to actual implementation, Lemon Consultech is helping in whole value chain to achieve the groups sustainability goals.
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Certifications
Lemon Consultech has helped A-Star Alliance to be certified to ISO 14064 standard as also clear the audits of major suppliers and US retailers.
Conclusion
Through the partnership with Lemon Consultech, A-Star Alliance has made significant progress in achieving its sustainability goals. The company's integration of ESG factors into its business strategy, carbon footprint assessment, comprehensive action plan, employee training program, and ESG reporting demonstrate its dedication to sustainability. A-Star Alliance's commitment to creating value for all stakeholders while minimizing its impact on the environment reinforces the company's position as a leader in the aviation industry.
A-Star Alliance's sustainability efforts have not only helped to minimize its environmental impact but have also brought numerous benefits and added value to the company. Some of the key benefits include Cost Saving through the implementation of energy efficiency measures, Brand reputation, Risk management and mitigation by demonstrating its commitment to environmental responsibility and stakeholder engagement, Access to capital by prioritizing the sustainability etc.