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

In a groundbreaking development for India's electric vehicle (EV) industry, MoEVing, a leading platform for electric vehicle-based logistics, has been awarded the VERRA (Verified Carbon Standard) for carbon credits. With this accreditation, Moeving becomes the very first company in India to be registered with VERRA for Carbon emissions trading in the commercial logistics space.

Carbon credits are an essential tool in the global fight against climate change, allowing companies to offset their carbon footprint by investing in environmental projects. Through VERRA’s accreditation, MoEVing is now at the forefront of this initiative, and has already earned carbon credits on the platform.

VERRA, the benchmark for quality assurance in carbon trading, has recognized MoEVing’s commitment after a stringent evaluation process, validating the company’s efforts to reduce carbon emissions through sustainable logistics. Verra is a nonprofit organization 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.  MoEVing is authorized to generate carbon credits for a decade, with a minimum projection of saving 70,520 tonnes of CO2, marking a significant contribution to the environmental health of the planet. At the heart of MoEVing's operation is a commitment to clean, carbon-neutral deliveries—a commitment that resonates with the national CCTS objectives.

As India's premier electric logistics fleet, MoEVing is dedicated to delivering goods in an environmentally responsible manner. The company’s fleet of electric 3 and 4-wheelers, bolstered by a robust charging infrastructure, underscores a revolutionary shift away from fossil fuels and towards a greener logistics model. Recently, the company also achieved another milestone by deploying a record-breaking 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, expressed his gratitude: "We are honoured to have our efforts towards decarbonisation acknowledged by a global carbon credit trading platform like VERRA. 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, said, "Within the rapidly advancing EV sector, significant efforts are underway, highlighting a commitment to environmental sustainability. 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." The company's clients have not only enjoyed economic benefits from the shift to electric vehicles but have also actively participated in the significant reduction of their carbon footprint. To date, MoEving is the first and only logistics project from India which is registered in the voluntary carbon markets from the EV ecosystem. MoEVing’s achievement is a beacon for the logistics industry, signalling a transformative era for India and setting a precedent for sustainable practices.”