MMCM Launches India’s First Circularity-Linked Carbon Credits from ELVs; Projected to Save Over 2 million tons of CO₂ in a Decade
India, Mumbai, 29th October: Meta Materials Circular Markets (MMCM) today announced the launch of India’s first circularity-linked carbon credits from End-of-Life Vehicles (ELVs), projected to achieve 2 million tons of upward CO2 savings by the end of the decade.
India’s Carbon Market Potential
Under the globally recognized Cercarbono standard, MMCM’s Circularity-Based Carbon Project introduces a global-first solution. By integrating circular economy principles into carbon markets, MMCM establishes a first-ever verifiable circularity-linked carbon mechanism, demonstrating that carbon reduction and material recovery can move hand-in-hand.
These credits are expected to witness strong global demand, positioning India as a supplier of high-integrity, circularity-linked carbon assets that meet the world’s growing need for traceable, impact-driven climate solutions. MMCM has partnered with 20+ Registered Vehicle Scrapping Facilities (RVSFs) nationwide, including leading recyclers such as Tata Re.Wi.Re and Mahindra CERO. Backed by verifiable circularity data and a robust digital Monitoring, Reporting, and Verification (dMRV) mechanism, this project has the potential to unlock ₹1000 crores in the RVSF ecosystem through climate finance, creating greater employment opportunities, improving environmental outcomes, and driving awareness about responsible recycling.
Why Circularity-Linked Credits Matter
Unlike conventional carbon offsets, MMCM’s ELV Carbon Credits are anchored in circularity, linking every emission reduction with tangible material recovery. For every 1 ton of ELV responsibly scrapped and recycled, approximately 0.6 tons of CO₂e savings are achieved. The process is verified through 40+ dMRV data points on MMCM’s proprietary digital MRV mechanism, ensuring accuracy, transparency, and traceability.
Beyond avoided emissions, these credits capture the recovery of high-value materials such as steel, aluminium, and plastics which are reintroduced into manufacturing cycles. For India Inc, this creates a dual advantage – credible Scope 3 emissions offsets alongside the development of resilient, low-carbon supply chains powered by recycled raw materials.
Celebrating the launch, Mr. Nitin Chitkara, CEO, MMCM, said:
“Circularity-linked carbon credits open a new paradigm where India can decarbonize 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.”
Echoing his thoughts, Mr. 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.”
This initiative reimagines ESG strategy for India Inc by turning the challenge of automotive waste into an economic opportunity. By embedding circularity into carbon markets, MMCM is helping India unlock its circular economy potential, strengthen industrial supply chains, and accelerate progress on the Net Zero pathway.
