India’s First Logistics Firm, MoEVing, Achieves Accreditation for VERRA Carbon Credits
The first company in India to register for carbon emissions trading in the commercial logistics sector is MoEVing, a platform for electric vehicle-based logistics that has been awarded the VERRA (Verified Carbon Standard) for carbon credits. Carbon credits, also called 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.
Verra is a nonprofit organization that operates standards in environmental and social markets, including the world’s leading carbon crediting program. MoEVing has been granted permission to generate carbon credits for ten years, with a minimum projection of saving seventy-five thousand tonnes of CO2. This milestone is in perfect alignment with India’s ambitious environmental stewardship—the introduction of the Carbon Credit Trading Scheme (CCTS) under the Energy Conservation (Amendment) Bill, 2022.
The company, which operates in major cities and serves a variety of industries like FMCG, e-commerce, and oil and gas, recently deployed 100 TATA Aces across 10 customers in just 90 days.
“This is testament to MoEVing’s dedication to creating a cleaner and greener future by providing efficient, electric, and eco-friendly logistics solutions.”Vikash Mishra, CEO of MoEVing said
MoEVing’s journey towards this accreditation began a year ago and was supported by FCF India as the consultant.
“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.”Jasmeet Singh, director, of FCF India (Fair Climate Fund India), said
As a social enterprise, FCF India was founded to assist and promote climate change interventions in poor countries using a business model approach based on the global carbon markets. Its focus is on clean energy and sustainable practices across industries.
MoEVing is an Indian company that provides a full-stack electric mobility platform for intra-city last-mile delivery services. It works with various e-commerce, e-grocery, FMCG, logistics, and D2C companies to optimize their logistics costs and reduce their carbon emissions. MoEVing also offers charging, maintenance, financing and life cycle management solutions for electric vehicles (EVs) and drivers. MoEVing aims to accelerate EV adoption in India and contribute to a sustainable and clean-energy future