Partnership with HBAR Foundation and use of Hedera network services will enable new decarbonization use cases while driving the adoption of digital ID technologies across a variety of industries.
MENTOR, OH / DALLAS, TX. – May 12, 2022 - Avery Dennison Corporation (NYSE: AVY) today announced that it is partnering with the HBAR Foundation on sustainability initiatives. Part of the collaboration is the adoption of Hedera's distributed ledger technology (DLT) into the atma.io connected product cloud. atma.io customers now can access one of the most cost effective and energy efficient DLT/blockchain platforms and use that functionality to drive their decarbonization goals.
The atma.io connected product cloud helps transform how brands can meet net-zero targets and reduce waste across the supply chain. Currently, over 22 billion items are managed by the atma.io platform across the apparel, retail, food, and healthcare segments. Six of the top 20 apparel brands globally by revenue and four of the top 10 quick-service restaurants (QSRs) use the platform.
atma.io will scale beyond traditional supply chain events to account for carbon emissions at a granular level using the Hedera Consensus Service (HCS) and Hedera Token Service (HTS). atma.io will also leverage the Guardian solution, an open-source tokenization service that makes creating and discovering ESG (Environmental, Social, and Governance) assets easy. This innovation will allow atma.io customers across numerous verticals to account for their emissions and enable carbon reductions within the atma.io connected product cloud.
Leveraging the Hedera services, atma.io offers brands across a wide range of industries a platform for more granular carbon accounting, tokenization of their carbon footprint, and the ability to have highly credible carbon reduction tokens to help meet net-zero emissions targets.
The partnership with the HBAR Foundation and integration with Hedera network services builds on the atma.io Spring 2022 release, focused on sustainability and waste elimination, and is the latest example of Avery Dennison’s commitment to leveraging leading-edge technology to drive sustainability initiatives.
“In the year since our launch of atma.io, we’ve seen strong adoption by brands across numerous industries - from apparel to food, beauty, retail, pharmaceuticals, and more. They all need end-to-end supply chain traceability, carbon accounting, and carbon reduction capabilities to allow them to deliver on their net-zero carbon goals and give their consumers the product transparency they demand,” said Max Winograd, vice president, connected products, Avery Dennison Smartrac and co-founder of atma.io. “We’re excited to start pushing billions of item-level data transactions through the Hedera network to deepen the connection between physical and digital worlds, and enable our customers to continue leading in sustainability and traceability.”
“Avery Dennison is emerging as a global leader in sustainability, and the evolution of atma.io is helping them in turn enable their customers to deliver on their sustainability and circularity goals,” said Brett McDowell, chair of the Hedera Governing Council. “Their understanding of the sustainability and traceability benefits that distributed ledger technology can bring to supply chains has deepened incredibly during their time as a member of the Hedera Governing Council. And now, their customers will not only have access to a source of single truth, where a product’s origins and entire journey can be chronicled and made available to brands, retailers, and consumers, but will also have the ability to manage emissions and highlight their sustainability directly in the connected product cloud.”
“Avery Dennison and atma.io’s leadership in enabling granular carbon emissions accounting, along with their wider sustainability initiatives to provide customers a path to net-zero emissions, is a major step forward for the entire industry,” said Shayne Higdon, CEO and co-founder of the HBAR Foundation. “atma.io’s adoption of carbon emissions tokens on Hedera, and the ability to access verified carbon reductions will enable companies to prove their claims with full transparency of the data and actors involved.”
Carbon emission tokens and carbon reduction tokens will be available for atma.io customers beginning June 2022.
Images: Press kit imagery
Senior Director, Marketing & PR, Avery Dennison Smartrac
Senior Vice President, Communications, Hedera Hashgraph
About Avery Dennison
Avery Dennison Corporation (NYSE: AVY) is a global materials science company specializing in the design and manufacture of a wide variety of labeling and functional materials. The company’s products and solutions, which are used in nearly every major industry, include pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical, and retail applications; tags, labels and embellishments for apparel; and radio frequency identification (RFID) solutions serving retail apparel and other markets. The company employs approximately 36,000 employees in more than 50 countries. Reported sales in 2021 were $8.4 billion. Learn more at www.averydennison.com.
Atma is Sanskrit for "soul". Avery Dennison’s vision is that every product should have a unique digital ID or 'soul' that persists throughout the value chain and enables all stakeholders to see the true self (or atma) of the product. Avery Dennison launched the atma.io venture and its connected product cloud to serve as the foundation for sustainable, trusted connections between every item, every company, and every person.
atma.io™ is a trademark of Avery Dennison. Learn more at rfid.averydennison.com/atma.io.
The Hedera network is the most used, sustainable, enterprise-grade public ledger for the decentralized economy. The platform is governed by a council of the world's leading organizations, including Avery Dennison, Boeing, Chainlink Labs, DBS Bank, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.
For more information, visit www.hedera.com, or follow us on Twitter at @hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.
About the HBAR Foundation
Founded in 2021, the HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, ESGs, gaming and other sectors. In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development and other operational functions that are required to scale. For additional information, please visit www.hbarfoundation.org or follow the Foundation on Twitter at @HBAR_foundation.