Meta Materials Circular Markets (MMCM), a circular economy solutions platform, has announced the launch of India’s first circularity-linked carbon credits from End-of-Life Vehicles (ELVs). The company expects the project to achieve 2 million tonnes of CO2 savings by the end of the decade.
Under the Cercarbono standard, MMCM said it has introduced a global solution by integrating circular economy principles into carbon markets. This establishes a verifiable mechanism that links carbon reduction with material recovery.
The credits are expected to see demand, positioning India as a supplier of high-integrity, circularity-linked carbon assets. The project has the potential to unlock INR 10 billion in climate finance for the Registered Vehicle Scrapping Facilities (RVSFs) ecosystem.
MMCM has partnered with over 20 RVSFs nationwide, including Tata Re.Wi.Re and Mahindra CERO.
For every one tonne of ELV responsibly scrapped and recycled, approximately 0.6 tonnes of CO2 emissions are saved. These credits not only capture avoided emissions but also the recovery of materials such as steel, aluminium and plastics, which are reintroduced into manufacturing cycles. This creates a dual advantage for India Inc – credible Scope 3 emissions offsets and the development of low-carbon supply chains.
Nitin Chitkara, CEO, MMCM, said, “Circularity-linked carbon credits open a new paradigm where India can decarbonise while simultaneously creating value from recycling. This model not only supports India’s net zero ambitions but also strengthens industrial ecosystems with sustainable resource recovery. As COP30 nears, India is ready to showcase carbon innovation with global impact.”
Yashodhan Ramteke, Head of Carbon BU, MMCM, added, “By quantifying and trading ELV-linked carbon credits, we are demonstrating how emission savings and circularity can work together, setting the stage for India to become a leader in next-generation carbon finance.”
The initiative aims to reimagine ESG (Environmental, Social and Governance) strategy by turning automotive waste into an economic opportunity, strengthening industrial supply chains and accelerating progress on the Net Zero pathway.
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