MoEVing has been awarded the VERRA (Verified Carbon Standard) for carbon credits, making it the first company in India to be registered for carbon emissions trading in the commercial logistics segment.
Carbon credits, also known as carbon offsets, are permits that allow the owner to emit a specified amount of CO2 or other greenhouse gases. One credit allows for the release of one ton of CO2 or the equivalent in other greenhouse gases.
MoEVing has been granted permission to generate carbon credits for a decade, with a minimum projected savings of 70,520 tons of CO2.
Verra is a non-profit organization that operates environmental and social market standards, including the world’s leading carbon crediting scheme. This landmark corresponds well with India’s ambitious stride toward environmental stewardship—the implementation of the Carbon Credit Trading Scheme (CCTS) under the Energy Conservation (Amendment) Bill, 2022.
Recently, the company deployed 100 TATA Aces in just 90 days among ten customers in key urban areas, serving industries ranging from FMCG and e-commerce to oil and gas.
Vikash Mishra, CEO of MoEVing said, “This is testament to MoEVing’s dedication to creating a cleaner and greener future by providing efficient, electric, and eco-friendly logistics solutions.”
MoEVing’s journey towards this accreditation began a year ago and was supported by FCF India as the consultant.
Jasmeet Singh, director, FCF India (Fair Climate Fund India), said, “The pursuit of carbon certification not only enhances the industry’s credibility but also serves as a catalyst, enabling the EV segment to tap into new revenue streams.”
FCF India focuses on clean energy and sustainable practices across industries. It is a social enterprise established to support and promote climate change interventions in developing nations under a business model approach based on the international carbon markets.
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