Tencent has announced the launch of “CarbonX Program 2.0”, aimed at fostering innovation in low-carbon technologies. The program seeks to achieve net-zero emissions by 2050 by providing funding and resources to promising technologies worldwide.
Supporting Global Innovations to Tackle Climate Change
On December 3, 2024, Tencent officially launched “CarbonX Program 2.0” in Beijing under the slogan “Tech for Good.” This initiative aims to accelerate the development of climate technology by supporting innovative low-carbon solutions worldwide. Recognizing the global reliance on immature decarbonization technologies, Tencent has committed tens of millions of dollars to scale technologies essential to meeting the Paris Agreement targets.
The program focuses on four key areas:
Carbon Dioxide Removal (CDR): Reducing atmospheric CO2 levels.
Long-Duration Energy Storage (LDES): Enhancing renewable energy reliability.
Decarbonization of the Steel Industry through CCUS: Capturing and storing CO2 emissions.
Carbon Integration via CarbonXmade: Advancing integrated carbon solutions.
Pilot projects are already underway, including a CDR initiative in Kenya and an LDES project in the Maldives.
CarbonX 2.0 has strengthened collaborations with diverse partners across industries. Key industry partners include China Resources and Siam Cement Group, while PepsiCo and Unilever represent the consumer product sector. Ecosystem supporters such as the African Development Bank and Asian Development Bank also back the program.
Tencent’s Senior Vice President, Davis Lin, emphasized the urgency of addressing climate change and expressed hope that the program would foster a robust international ecosystem. Professor Jerry Yang, a fellow of the European Academy of Sciences and Arts and co-chair of the CarbonX Advisory Committee, highlighted the importance of scalable solutions and global collaboration.
Call for Global Participation
The program is currently accepting proposals from early-stage startups, established companies, and academic and research institutions worldwide. Applications will remain open until May 2025. Selected teams, chosen through a two-stage evaluation process, will receive grants and resources to support the execution of their projects.
Tencent’s CarbonX Program 2.0 marks a significant step toward empowering global innovation to combat climate change and achieve a sustainable future.