India is now the second-largest supplier of carbon credits globally, and its voluntary carbon market is projected to reach $1.16 billion by 2030. Yet, small and mid-sized project developers remain locked out because nearly 30% of earned credit value is lost in the verification process. Additionally, verification timelines are quite long – anywhere between 6 to 9 months – making participation unviable for MSMEs. 

Founded by Abhimanyu Rathi, a seasoned climate entrepreneur who has spent over 16 years working at the intersection of clean energy, water, and public infrastructure, RenewCred is reimagining how carbon markets work for India. They are creating India’s first fully digital MRV (Measurement, Reporting, Verification) platform that integrates IoT, machine learning, and blockchain to issue high-quality carbon credits in near real-time. With a transparent, tech-led process and a flat buyer-pays model, they’re enabling credit supply from smaller players who were previously excluded from the market due to high entry barriers.

Their goal is to reimagine credit verification for India which is faster, cheaper, and built on science. The team is in the process of launching four methodologies across EV fleets, biochar, solar, and compressed biogas, and is working with early suppliers to test and deploy the platform on live projects. Backed by a growing science community and early partnerships, RenewCred is well-positioned to drive the next wave of climate participation from India.

With ACT’s pre-MVP grant, RenewCred will:

• Launch their dMRV dashboard and issue credits on live projects
• Operationalize a blockchain-linked wallet for transparent credit issuance
• Facilitate the first purchase of credits by an authorised buyer

In addition to capital, ACT will work closely with the team on product refinement, ecosystem integration, and building the trust rails for credit buyers and suppliers.

By building an India-first registry, RenewCred is laying the foundation for a more inclusive and scalable carbon market, one that brings small climate actors into the fold and enables India to lead on both credibility and climate outcomes. We’re excited to support their journey as they build the digital infrastructure for the future of carbon markets!