- Avery Dennison collaborates with HBAR Foundation to embed Hedera’s Distributed Ledger Technology (DLT) in atma.io Connected Product Cloud for advanced carbon accounting.
- The venture will allow seamless tracking and tokenization of carbon emissions, propelling brands closer to their net-zero emission goals.
In a remarkable stride towards enhancing transparency and efficiency in carbon accounting, Avery Dennison has partnered with the HBAR Foundation. This collaboration infuses Hedera’s Distributed Ledger Technology (DLT) into the atma.io Connected Product Cloud, offering an efficient and cost-effective blockchain platform for clients keen on achieving their decarbonization targets.
https://t.co/E5xzzoHvZP from @AveryDennison is actively ensuring trust in carbon accounting – at scale 🌎
Billions of unique items tracked across the supply chain.
Multiple billions of transactions on #Hedera and counting.
Welcome to the institutional adoption of #Web3. pic.twitter.com/eoq7UylVm6
— HBAR Foundation (@HBAR_foundation) September 25, 2023
Harnessing Advanced Tech for Environmental Stewardship
The integration, a part of the broader sustainability initiatives, ensures that brands can accelerate towards their net-zero targets while minimizing waste across the entire supply chain. Currently, the atma.io platform manages over 22 billion items across various sectors including apparel, retail, food, and healthcare. The platform is utilized by six of the top 20 revenue-generating apparel brands globally and four of the 10 largest quick-service restaurants.
Venturing beyond traditional supply chain events, atma.io, with the help of Hedera Consensus Service (HCS) and Hedera Token Service (HTS), will capture carbon emissions at a granular level. Additionally, it will employ the Guardian solution, an open-source tokenization service facilitating the creation and discovery of ESG (Environmental, Social, and Governance) assets. This innovation will allow atma.io’s diverse clientele to account for their emissions and enable carbon reductions within the Connected Product Cloud ecosystem.
Through leveraging Hedera services, atma.io is providing brands from an array of industries a platform for more detailed carbon accounting, tokenization of their carbon footprint, and the opportunity to obtain highly credible tokens for carbon reduction to meet net-zero emission objectives.
The synergy between HBAR Foundation and the integration with Hedera network services is built upon the atma.io Spring 2022 release focused on sustainability and waste reduction. This venture underpins Avery Dennison’s commitment to utilizing cutting-edge technology in promoting sustainability initiatives.
Max Winograd, Vice President, Connected Products, Avery Dennison Smartrac and co-founder of atma.io, expressed enthusiasm about channeling billions of data transactions at an item level through the Hedera network. This move aims to deepen the connection between the physical and digital realms, enabling clients to continue leading in sustainability and traceability.
Carbon emission tokens and carbon reduction tokens will be available for atma.io clients starting June 2022, marking a significant step toward verifiable and transparent carbon reduction strategies for enterprises worldwide.
