MoEVing India’s first logistics company to get VERRA Carbon Credits Accreditation

MoEVing, a platform for electric vehicle-based logistics, 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 certain amount of carbon dioxide or other greenhouse gases. One credit permits the emission of one ton of carbon dioxide or the equivalent in other greenhouse gases. 

MoEVing is authorised to generate carbon credits for a decade, with a minimum projection of saving 70,520 tonnes of CO2.

Verra is a nonprofit organisation that operates standards in environmental and social markets, including the world's leading carbon crediting program. This milestone aligns perfectly with India's ambitious step towards environmental stewardship—the introduction 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 across 10 customers, operating in major urban centres and serving sectors as varied as 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.