CNBC Live Interview: ATEC leads efforts to restore trust in Africa’s carbon market

Watch the full interview here

‍

ATEC CEO Ben Jeffreys has appeared on CNBC Africa’s influential Power Lunch program to share ATEC’s blueprint for restoring trust in carbon markets.

‍

In a live interview with East Africa bureau chief Ridhima Shukla, Ben outlined how ATEC’s 100% dMRV and block chain technology can solve the trust problem around carbon credits and enable climate finance to flow into countries that need it.

CNBC pointed out that over-crediting controversies have eroded faith in carbon markets in Africa. Buyers, governments, and communities haven't been able to fully trust that carbon projects have been generating the state demission reductions.

"Over-estimation had become rife within the clean cooking sector because too many projects still relied on sampling and extrapolation, even if dMRV was used in those samples"
- Ben

“That extrapolation is where we see the problem. Whatever we call it, it is an estimate, and the problem is there’s a lot of commercial interest in achieving certain outcomes, and that creates an inherent conflict of interest. The only way to resolve that is to have a full, independent data set on every single credit that’s generated so you take the guesswork out of carbon markets.”
- Ben

ATEC’s IoT-enabled eCook stoves measure every gram of reduced carbon and verifiable data is recorded directly on blockchain ledgers, ensuring the process is transparent and traceable from end-to-end, with no sampling, no estimation, and no human intervention in data entry.

"If the full potential of this asset class were unlocked, it would result in a 1 gigaton reduction in carbon emissions - more than the global airline industry - and generate $20 billion per year"
- Ben

While some may consider it a dream, ATEC is already producing and scaling this new carbon asset class by using unique and irrefutable IoT data sets - bringing trust back to carbon markets.