MMCM is an envirotech startup dedicated to creating digital ecosystems anchored in the core principles of the circular economy. They are building a transparent, measurable, and verifiable ecosystem for automotive circularity to ensure environmentally friendly scrapping and reusability of materials from end-of-life vehicles.
Mission
MMCM is dedicated to promoting responsible vehicle disposal, reducing carbon footprints, and combating greenwashing by generating real-time, fractionalized carbon credits, setting a new standard in ecological sustainability and compliance.
Carbon Project Integrity
The Guardian Ecosystem enables ALLCOT to create a standardized project development framework that fosters trust, transparency and compatibility across all project stakeholders. This ensures the creation of high-integrity projects while maximizing benefits for local communities.
The Guardian Ecosystem facilitates the fulfillment of methodology standards, validation body requirements, project developer needs, and community expectations, thereby enhancing the overall efficiency and transparency of the project
ALLCOT stakeholders benefit from access to accurate and comprehensive information on Hedera Guardian’s public ledger, leveraging a common set of rules and standards, fostering trust and accountability.
Transparently demonstrating how project resources are allocated on the public ledger enables ALLCOT’s stakeholders to comprehend the full scope of a project's efforts, flow of funds, and impact.
By recording the transaction cost at every stage of a project's progress, resulting carbon credits can be priced to maximize revenue distribution back to the local community.
By utilizing Hedera Guardian’s digital ledger, ALLCOT is able to minimize accounting errors, make auditing more open and efficient, and enable a more equitable emergence of verification and validation partners.
The Hedera Guardian Ecosystem establishes a secure chain of data custody, particularly in the case of drone-captured information for origination purposes. This enables ALLCOT to ensure that all project data remains intact, trustworthy and accurately tethered to each project attribute.
By ensuring that data provided aligns with the necessary frameworks, the Guardian helps meet specific industry needs and standards, while ensuring compliance with multiple reporting requirements.
ALLCOT is focused on creating products that surpass the limitations of conventional methods, shifting towards more advanced and efficient approaches to future sustainability markets.
The Guardian serves as a single source of truth, ensuring that policies and rules are standardized and compatible with other sustainability market actors. This enables ALLCOT to align financing through carbon forwards and the structuring of green bonds seamlessly across various entities within the ecosystem
The adoption of a common taxonomy within Guardian enables ALLCOT to establish a standardized language for discussing and addressing various sustainability issues. This fosters better communication and alignment for more effective and cohesive climate action.
By leveraging the flexibility and adaptability of Guardian, ALLCOT has the ability to provide various pathways for different stakeholders as the sustainability market evolves.
The Hedera Guardian Ecosystem operates as a common good, providing services to the entire ecosystem without an extractive fee-based model.
ALLCOT leverages the Hedera Guardian Ecosystem to build on and integrate various services and initiatives already established by other community members. This creates an aligned, streamlined ecosystem of sustainability market actors that avoids duplication to serve the needs of communities, investors, and project developers.
To achieve this, MMCM has leveraged the advanced capabilities of Hedera Guardian technology to embark on a pioneering journey with its Sustainable End-of-Life Vehicle Scrapping Program, setting a new benchmark in ecological sustainability and transparency. The Hedera/Guardian framework empowers this program with advanced dMRV capabilities, enabling the digitization of a combined methodology of CDM Methodologies AMS - III.AJ and AMS - III.BA as a basis for their end-of-life vehicle credits.
Case study: Sustainable End-of-Life Vehicle Scrapping Program – ELV Credits
By listing End-of-Life Vehicle (ELV) Credits for vehicles scrapped in an environmentally friendly manner by government-authorized scrappers, MMCM confronts the challenge posed by unorganized scrappers operating in an environmentally hazardous manner.
India is the fourth-largest producer and third-largest generator of ELV vehicles, with an estimated 8.7 million in 2015 and projected to reach 22 million by 2025. Despite the large number of ELVs, the informal sector accounts for more than 99% of total business activity. The informal sector is a source of rampant exploitation, environmental degradation, tax evasion, spurious goods and crime. The government recognized these challenges and developed the Voluntary Vehicle Scrapping Policy 2021. The Policy calls for the establishment of formal government-authorized scrapping centres, which will necessitate significant capital and operating costs as well as strict environmental and other compliance requirements. India currently operates approximately 50 centres,, and another 1000 or 1500 centres may be required to meet the requirements for formally scrapping the ELVs generated. However, these 50 or so centres face significant challenges in sourcing vehicles and competing with the informal sector, which flouts environmental norms and regulatory compliance requirements, such as selling prohibited parts, while earning much higher revenues. MMCM is assisting government-authorized scrappers in filling this viability gap with ELV Credits.
The program's backbone, MMCM’s Autoloop System, captures a comprehensive 40 data points for each ELV, ensuring the traceability, transparency, and integrity of the ELV Credits generated. This meticulous data collection and verification process, supported by Hedera’s distributed ledger technology via DOVU, establishes a trust chain that guarantees every transaction's accountability and auditability, effectively combating greenwashing.
The image above establishes the provenance of each ELV, including owner KYC and government-issued documents.
The image above displays the Material Composition for each part, which is used to compile the compliance report sent to the Ministry.
MMCM’s use case generates real-time credit issuance, and also exemplifies a seamless integration of digital MRV, providing value to individuals and organizations alike through environmental stewardship, compliance fulfillment and the promotion of sustainable practices.
MMCM is proud to work with Hedera's ecosystem of partners:
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