ELV certificate trading platform to promote circular economy and reduce emissions

 ELV certificate trading platform to promote circular economy and reduce emissions

ELV certificate trading platform to promote circular economy and reduce emissions

According to Chitkara, those who want to trash their old cars but do not want to purchase a new one anytime soon would benefit from the trading of these CODs.

He claimed that during the trial program, some 4,800 of these certifications were exchanged on DigiELV, helping owners of end-of-life vehicles.

An industry expert claims that trading in certificates of deposit, which are given out in exchange for old cars being scrapped, would strengthen the circular economy and reduce vehicle emissions. According to Nitin Chitkara, CEO of Meta Material Circular Markets (MMCM), the company that operates the DigiELV platform, 20–25% less vehicle pollution might be produced by discarding outdated cars.

According to him, getting rid of outdated cars would assist the circular economy and reduce greenhouse gas emissions. Union Minister Nitin Gadkari unveiled the DigiELV platform last week, which is supported by MMCM and would facilitate the trade of ELV or Certificates of Deposit (COD) certificates. According to Chitkara, those who want to trash their old cars but do not want to purchase a new one anytime soon would benefit from the trading of these CODs.

He claimed that during the trial program, some 4,800 of these certifications were exchanged on DigiELV, helping owners of end-of-life vehicles.