Avery Dennison partners with Hedera

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.