New Delhi, February 25 Maruti Suzuki India announced on Wednesday that its in-plant railway siding in Gujarat has been registered as the world's first modal shift transportation project under Verra's Verified Carbon Standard initiative.
The project is expected to generate approximately 1.7 lakh carbon credits over a 10-year crediting period, from FY 2023-24 to FY 2032-33, by shifting vehicle dispatches from road to railways.
Following independent verification of carbon emission savings, Verra will issue 1.7 lakh carbon credits to the auto major under its Verified Carbon Standard (VCS) program.
Verra is a global non-profit organization that develops and manages standards for climate action and sustainable development.
It administers the Verified Carbon Standard (VCS) Program, the world's leading voluntary greenhouse gas crediting program, which helps ensure high-integrity carbon credits and supports credible climate action by governments and businesses worldwide.
Through the VCS Program, Verra has issued over 1 billion carbon credits, representing more than 1 billion tonnes of greenhouse gas emissions reduced or removed, an achievement unmatched in the voluntary carbon market.
"By transitioning vehicle movement from road to rail, the project demonstrates how scale, operational efficiency, and environmental responsibility can seamlessly go hand in hand," said Maruti Suzuki India MD and CEO Hisashi Takeuchi in a statement.
Leveraging the inherent efficiency of rail transport, the Gujarat in-plant railway siding has significantly reduced the carbon footprint of logistics operations, while also easing road congestion and lowering overall fossil fuel consumption, he added.
"This milestone marks a significant step forward in our sustainability journey and reinforces our commitment to setting industry benchmarks that align with India's strong steps towards net-zero emissions," Takeuchi noted.
The country's largest carmaker has dispatched over six lakh vehicles cumulatively from the Gujarat railway siding since the commencement of operations in March 2023.