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New Delhi: EV ride-hailing service provider BluSmart secured carbon credit accreditation with its electric vehicles fleet. It got registered on Thursday under the Verified Carbon Standard Program by Verra, a leading global non-profit standard-setter.
Now all the fleet of BluSmart will generate certified positive climate impacts and will receive carbon credits for 10 years.
The EV ride-hailing company used United Nation approved carbon methodology, it said.
Anmol Singh Jaggi, CEO and co-founder, BluSmart, said, “Verra’s accreditation helps to achieve and facilitate commitment towards this climate action where we get to quantify, qualify and verify the GHG emission process for our customers and stakeholders. The Ministry of Power has recently notified the Green Open Access Rules, 2022 in which it has reduced the open access transactions limit from 1 MW to 100 kW. This is paving the way for BluSmart to go completely renewable. “
The company aims to expand its operations to major metros of India in near future. Recently BluSmart has partnered with a leading OEM in India for 10,000 EVs. With total funding of USD 67 million, the EV ride-hailing company is backed by marquee investors like BP Ventures, Mayfield Fund, Green Frontier capital, and more.
BluSmart was founded with the mission to reduce carbon emissions in the transport segment. It also displays carbon emissions saved by each ride hailer on their phone app.
Fair Climate Fund India, the carbon consultant for the project, provided technical assistance to do all the carbon estimation and help BluSmart to achieve this feat in record time. To date, BluSmart is the first and only project from India which is registered in the voluntary carbon markets from the EV ecosystem.
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