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Press Office
ATEC Global has become the first cookstove project developer to issue fully digitised carbon credits under Gold Standard using 100% digital monitoring, reporting and verification (dMRV), traceable on the Hedera Guardian public ledger.
This milestone brings essential digital efficiencies to the sector, enhancing the integrity of impact data and helping climate benefits to be delivered faster and more effectively.
dMRV uses connected devices to automatically collect and securely transmit real-time data on project performance. This replaces manual data collection with continuously tracked energy consumption that is independently audited for accuracy.
The eCook Bangladesh project uses IoT-SIMs installed on 100% of devices to track usage. This data is then transmitted via Hedera’s public ledger for audit by VVB Earthood, which then submits this to Gold Standard for final approval. Once complete, the credits are issued on the Gold Standard Impact Registry with a non-tradeable digital twin carbon representation published on Hedera.
“This issuance marks an important step in building the next generation of the carbon market. By integrating fully digital monitoring, reporting and verification into project design, we are strengthening transparency, efficiency and trust in how impact is measured and verified. We congratulate ATEC on reaching this milestone and demonstrating how innovation can support high-integrity climate action while accelerating access to carbon finance.”
Margaret Kim, Chief Executive Officer at Gold Standard
“Digitisation of carbon credits based on irrefutable dMRV data can dramatically improve accuracy and transparency in carbon markets by measuring 100% of devices 100% of the time. It also has direct project benefits in accelerating the carbon verification cycle that means both buyers and households can receive the verified benefit of carbon markets in terms of months rather than years. ATEC and its partners look forward to continuing to build the tech that solves trust in carbon markets, unlocking climate finance at scale for those that both need and deserve it the most - women across the Global South.”
Ben Jeffreys, CEO and Co-Founder at ATEC Global
To maintain data security, the latest versions of ATEC’s eCook stoves feature encrypted and digitally signed data transmission. Carbon calculations also deduct any emissions from the energy consumed by the digital monitoring infrastructure itself.
To safeguard integrity, a Validation and Verification Body (VVB) with specialised IT expertise audits the platform and data. This audit covers the digital MRV solution, greenhouse gas accounting and regulatory compliance.
Every unique carbon credit is independently viewable and auditable by the public on Hedera, either directly on the blockchain or via the open-source Hedera Atlas dashboard. All on-chain carbon data then reconciles back to the Gold Standard verification report on the Gold Standard registry. This 100% dMRV verification process was completed by Earthood.
“This milestone highlights the transition toward a more transparent, data-driven carbon market, where digital MRV can strengthen trust and enable scale. The cookstove sector has faced scrutiny in recent years around data quality and verification timelines, and this approach offers a clear pathway to improve accuracy, auditability and speed. We welcome the leadership of ATEC Global and Gold Standard, and have been building our capabilities over the past two years to effectively support such emerging frameworks.”
Dr. Kavi Singh, CEO at Earthood
For this first issuance under the dMRV working group, Gold Standard has reviewed and approved an initial 1,667 tonnes of emission reductions. As it is using Gold Standard’s Interim Issuance Track (IIT) for digital issuance, the number of credits issued will be 75% of the verified volume. The remaining 25% will be released after completion of verification under the full 365-day issuance track, with any adjustments resulting from applicability requirements applied to that final balance.
The transition to digital MRV is expected to shorten issuance timelines significantly. Historically, project developers could wait up to two years to complete traditional validation and verification processes. Under the new digital MRV requirements, developers can request issuance every 90 days through the Interim Issuance Track, covering monitoring periods of between 90 and 270 continuous days. Once the digital infrastructure has undergone initial verification, subsequent issuance requests are expected to be faster, with reviews focused primarily on confirming final numbers.
" ATEC's eCook Bangladesh marks a significant milestone as the first project to issue carbon credits through Gold Standard's Digital MRV Pilot Programme with complete digital verification via the Hedera Guardian platform. This achievement with ATEC, Earthood, and Gold Standard demonstrates how blockchain technology can streamline carbon credit issuance with full transparency—from communities to auditors to standards."
Wes Geisenberger, Executive Director – Sustainability at Hashgraph
About ATEC
ATEC is a global leader in IoT-enabled electric stoves which connect 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.
For more information, visit www.atecglobal.io or contact [email protected]