In a landmark move for India’s climate and recycling ecosystem, Meta Materials Circular Markets (MMCM) has launched the nation’s first circularity-linked carbon credits derived from End-of-Life Vehicles (ELVs). The initiative is projected to save over 2 million tons of CO₂ emissions by 2035, generating more than 2 lakh credits annually and potentially unlocking ₹1,000 crore in climate finance within the Registered Vehicle Scrapping Facility (RVSF) ecosystem.
The project, certified under the globally recognized Cercarbono standard, introduces a world-first model that merges circular economy principles with carbon markets. By quantifying both emission reductions and material recovery, MMCM has created a verifiable circularity-linked carbon mechanism that aligns sustainability with industrial value creation.
MMCM has onboarded 20+ RVSFs across India — including industry leaders such as Tata Re.Wi.Re and Mahindra CERO — and partnered with over 100 recycling facilities nationwide. Using its proprietary digital Monitoring, Reporting, and Verification (dMRV) system, MMCM ensures high transparency with more than 40 verifiable data points per transaction.
For every ton of ELV responsibly dismantled and recycled, approximately 0.6 tons of CO₂e savings are recorded. In addition to avoided emissions, the credits also account for recovered materials like steel, aluminium, and plastics, which are reintroduced into manufacturing cycles — a move expected to strengthen India’s low-carbon supply chains and support Scope 3 emission reduction for industries.
Nitin Chitkara, CEO of MMCM, hailed the launch as a turning point for India’s decarbonization journey.Circularity-linked carbon credits open a new paradigm where India can decarbonize while creating value from recycling. This model not only supports India’s net-zero ambitions but also strengthens industrial ecosystems with sustainable resource recovery, he said.
Echoing his view, Yashodhan Ramteke, Head of Carbon BU at MMCM, added, By quantifying and trading ELV-linked carbon credits, we are showing how emission savings and circularity can coexist, positioning India as a leader in next-generation carbon finance.
The initiative marks a significant step towards embedding circularity in India’s ESG strategies, turning the challenge of automotive waste into an opportunity for economic and environmental renewal. As the world gears up for COP30, MMCM’s innovation underscores India’s growing role in global carbon market leadership and sustainable industrial transformation.
