Singapore: ATEC and myclimate have commenced a phase 1 project of 112,500 tons of 100% data-auditable carbon credits with their eCook IoT product in Nepal. ATEC, the global sector leader in on-asset verification of carbon claims via IoT data, is 1 of 5 project developers recommended by the University of Berkeley as achieving the highest integrity in carbon markets.
Ben Jeffreys, CEO of ATEC Global, emphasises the importance of independent data-auditability for carbon market integrity.
"Billions in climate finance for the Global South is there, but due to historically poor quality projects this remains largely untapped. Utilising technology that enables independently generated data to truly verify a ton is a ton is the core of what ATEC is trying to resolve for global carbon markets as we enter VCM2.0" says Jeffreys.
ATEC is leading in developing proprietary on-asset encrypted and digitally signed carbon data, meaning the usage data transmitted for each carbon claim is independently verifiable from ATEC as the project developer. Combined with validated baseline data and published directly onto carbon public blockchain/DL projects such as Hedera Guardian, Centigrade, Context Labs or IXO, buyers will soon have a carbon claim that is uniquely signed, fully transparent and 100% data-auditable for the next phase of carbon markets.
Swiss-based myclimate is one of the most established carbon origination organisations in the world. Florian Goppel, Co-Executive Director and Director Carbon Markets at myclimate, says;
"A global transition to clean cooking is critical to achieving climate protection and positively impacting Sustainable Development Goals on health, gender equality, and forest conservation, among others. Certified climate impact from cookstove capable of Digital MRV will add more transparency and trust. Partners and interested parties can verify the project's performance, down to individual stoves if so desired. Digital MRV has the potential to become a major component in realising an automated carbon verification process. As more investment in Digital MRV is made, we foresee increased efficiency in the carbon crediting cycle, which would lead to more investments in carbon projects and an even more significant climate impact."
"It’s exciting when you realise that one of the best applications of Web3.0 is to unlock in carbon financing into households in the Global South. By combining ATEC’s tech stack with blockchain/DL projects and forward-thinking partners like myclimate, projects like eCook Nepal will soon be issuing some of the world’s first fully independent, auditable & immutable carbon claims " Jeffreys adds.
The project in Nepal also aligns strongly with the government of Nepal’s National Climate plan. With Nepal now close to 100% renewables through a decades-long investment in hydroelectricity and solar, Nepal has set a clear target of 1 million electric stoves by 2030 to remove its reliance on biomass and LPG.
For more information on myclimate and ATEC’s new agreement and their ongoing projects, please visit www.atecglobal.io and www.myclimate.org.
ATEC is a global leader in IoT-enabled electric stoves which connects households to global carbon markets. Founded in Cambodia in 2016, ATEC developed the world’s first PAYG-enabled cookstove product in 2018, followed by the first IoT-enabled smart stove in 2020. ATEC currently distributes its products in 10 countries across Asia and Africa, with the goal of bringing the benefits of electric cooking and carbon markets to all women in the Global South. www.atecglobal.io
Mellisa Mazingi, Chief of Staff mmazingi@atecglobal.io
Kai Rassmus Landwehr, Co-Executive Director kai.landwehr@myclimate.org
