#China #Beijing #Tencent #CarbonX Program #Climate Technology

Tencent Unveils CarbonX Program 2.0

In an ambitious stride towards combating climate change, Tencent has recently announced the launch of its CarbonX Program 2.0. This initiative aims to drive the next generation of climate technologies essential for achieving net-zero emissions by 2050. Following the program's success in China, this iteration seeks to recruit promising innovations globally, backing them with catalytic funding and resources to fuel impactful change.

As the world grapples with the realities of climate change, it is starkly evident that 75% of the required decarbonization solutions depend on technologies that are still in their infancy. Building on its mission of 'Tech for Good,' Tencent believes that the CarbonX Program can play a pivotal role in unlocking these solutions, thereby assisting businesses and societies in meeting the targets established by the Paris Agreement.

The program is focusing on four key areas to solicit proposals for innovative, early-stage technologies that aim to decouple carbon from various processes:

1. Carbon Dioxide Removal (CDR): This method involves extracting existing emissions from the atmosphere, predominantly through technology-based solutions that ensure the permanence of this removal process. Pilot projects for CDR will be initiated in Kenya.

2. Long-Duration Energy Storage (LDES): To facilitate a higher integration of renewable energy into power grids, the program will support 100-kilowatt pilot projects in the Maldives, designed to provide over six hours of energy storage.

3. Carbon Capture, Utilization, and Storage (CCUS) for the Steel Industry: Given the pressing need for decarbonization in the steel sector, the CarbonX Program will focus on advancing next-generation point-source CCUS technologies rather than merely revalidating existing technologies, with pilot initiatives established in Serbia.

4. CarbonXmade (CCU): Through a consortium known as CarbonXmade, captured carbon will be integrated into the production of various consumer products, fostering innovative prototypes to create a seamless value chain from carbon to chemicals and final consumer items.

Expanding Collaborations

The CarbonX 2.0 initiative is set against a robust backdrop of partnerships across various sectors. Participants include industry stalwarts like China Resources, Conch Cement, and SCG, alongside consumer product giants such as McDonald's China and PepsiCo. The program will also see investment from entities such as Africa Climate Ventures and Lightspeed China Partners, promising to expand the ecosystem around it substantially.

Davis Lin, Tencent’s Senior Vice President, emphasized the urgency of the climate crisis, stating, "Addressing this challenge requires accelerating the market introduction of effective technologies that can bring about significant changes. Our CarbonX program actively seeks to nurture these solutions to encourage their real-world application. By enhancing our international ecosystem, we aim to speed up the path to net zero."

Professor Jerry Yan, Co-chairman of the CarbonX Expert Committee, echoed this sentiment, highlighting that tackling climate change will necessitate adaptable solutions driven by their global impact potential rather than their technological specificity.

Application and Selection

The application phase for CarbonX 2.0 is now open, welcoming submissions from aspiring participants across the globe, including startups, established companies, and academic institutions, until May 2025. The selection process is structured in two phases, where teams will be shortlisted based on their potential impacts and subsequently narrowed down to award 1 to 3 winning teams per scenario by early 2026. These winners will gather funding along with additional resources to further develop their projects.

The unveilment of CarbonX 2.0 coincided with the Sustainable Social Value Innovation Summit in Beijing, which served as a platform for thought leaders and industry experts to convene and discuss strategies to foster innovative solutions towards meeting the UN’s Sustainable Development Goals.

This initiative by Tencent represents a significant commitment to building a sustainable future by bridging the gap between technological innovations and practical, effective solutions for climate action. For those interested in learning more about the CarbonX 2.0 program, additional details can be found on their official website.