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An industry-first sustainability initiative, ELV Carbon Project transforms vehicle recycling into verified climate action.
The launch featured a high-impact stakeholder dialogue with participation from the Central Pollution Control Board, TERI, the Recycling & Environment Industry Association of India (REIAI), and the Carbon Markets Association of India.
20th May, 2025, India — In a breakthrough for India’s green economy, Meta Materials Circular Markets (MMCM), one of India’s leading envirotech enterprise pioneering circular economy solutions in the sector automotive launched the pilot phase of the ELV Credit Project in New Delhi. Showcased in pilot partnership with two leading Registered Vehicle Scrapping Facilities (RVSFs) — MTC Group and Rosmerta Auto Recycling Pvt. Ltd., the recognition is pegged to the first-of-its-kind in the industry that transforms vehicle recycling into verified climate action.
The recognition was announced at “Advancing Circularity: Through Carbon Credits, EPR & Traceability,” a workshop by MMCM in association with the Material Recycling Association of India, Carbon Markets Association, and India EPR Association.
Key stakeholders including Mrs. Youthika Puri (Divisional Head – E-Waste & WM-III, Central Pollution Control Board ), Mr. V.P. Yadav (Director, Central Pollution Control Board), Mr. I.V. Rao (Distinguished Fellow – Transport & Urban Governance,TERI), Mr. Dhanish Goyal (Chairman, India EPR Association), Dr. Ashok Kumar (President, Recycling & Environment Industry Association of India; Vice Chairman, Greenscape Eco Management Pvt. Ltd) and Mr. Rohit Kumar (Secretary General, Carbon Markets Association of India), amongst others convened to promote traceable recycling, carbon credit generation, and circularity in India’s end-of-life vehicle sector.
At the heart of the event was a financial incentive distribution — a landmark moment where the two initial partner RVSFs received rewards directly derived from the monetization of verified environmental data (ELV credits) from end-of-life vehicle (ELV) dismantling and material recovery.
Speaking on the intent of the Carbon Project, Mr. Nitin Chitkara, CEO of MMCM said, “The ELV Carbon Project marks a defining moment for India’s transition to a circular and low-carbon economy. By embedding transparency, traceability, and verified climate impact into end-of-life vehicle recycling, we envision to set a new benchmark for sustainable industry practices. The goal is not just to manage waste—but to redefine it as a verified contributor to national climate commitments and global sustainability goals.”
The ELV Carbon Project aims to convert ELV data into 100% traceable, blockchain-verified carbon credits, directly addressing Scope 1, 2, and 3 emissions for OEMs, financiers, and recyclers. The pilot demonstrated that formal recyclers can become verified contributors to India’s voluntary carbon markets, while also ensuring eco-friendly ELV processing.
Mr. Yashodhan Ramteke, Carbon Business Unit Head at MMCM, shared key insights from the pilot, and added. “During this phase, we were honored to collaborate with IIT Bombay, whose expertise in sustainable systems brought depth and credibility to our model. Our partnership with Hedera and use of the Guardian framework enabled us to digitize a blended methodology — rooted in UN CDM standards AMS-III.AJ and AMS-III.BA — to ensure transparency and traceability through blockchain-backed dMRV.”
MMCM acknowledged the contribution of MTC Group and Rosmerta Auto Recycling Pvt. Ltd for their early leadership. With 19 more RVSFs already onboarded for the next phase, MMCM is preparing to scale the initiative with a larger recognition ceremony planned in the near future. The project underscores India’s growing leadership in automotive circularity, digital decarbonization, and climate innovation — proof that every bit of traceable action counts.
