Tencent Unveils CarbonX Program 2.0 to Boost Climate Technology Advancement Globally

Tencent Launches CarbonX Program 2.0: Driving Climate Innovations

On December 3, 2024, Tencent officially introduced the second phase of its CarbonX Program, known as CarbonX Program 2.0. This initiative aims to expedite the development of climate technologies essential for achieving net-zero emissions by 2050. Building on the successes of its first phase, which primarily focused on projects within China, this new program seeks to attract innovative solutions from across the globe, providing critical funding and resources to support these advances.

The urgency of climate change continues to escalate, and it's widely acknowledged that around 75% of the solutions necessary for effective decarbonization rely on technologies that are still in developmental stages. Tencent's mission, encapsulated in the phrase "Tech for Good," finds its expression in the CarbonX Program. By nurturing emerging technologies, Tencent hopes to facilitate a substantial shift in the trajectory of carbon emissions, aligning closely with the commitments set forth in the Paris Agreement.

Key Areas of Focus

The CarbonX Program 2.0 is particularly focused on four pivotal areas where innovative technology has the potential to make a significant mark:

1. Carbon Dioxide Removal (CDR): This segment will primarily look into extracting historical carbon emissions from the atmosphere. The program will kick off pilot projects in Kenya that emphasize technology that guarantees permanence in emissions removal.

2. Long-Duration Energy Storage (LDES): As renewable energy becomes increasingly critical in power grids, LDES aims to enhance the duration and reliability of energy storage solutions. The Maldives will host pilot projects, which target a development of 100 kilowatts capable of delivering over six hours of stored energy.

3. CCUS for the Steel Industry: Acknowledging the steel industry as one of the most challenging sectors to decarbonize, pilot projects will be initiated in Serbia. These projects aim to advance next-generation technologies for Point Source Carbon Capture Utilization and Storage (CCUS) instead of merely refining existing methods.

4. CarbonXmade (CCU): This initiative focuses on integrating captured carbon into the manufacturing of chemicals and consumer products. Through the CarbonXmade consortium, the program intends to push the boundaries of innovative product prototypes and streamline a direct value chain from carbon to consumer goods.

Collaborative Network

The second iteration of the CarbonX Program emphasizes a broad collaborative network involving diverse partners from various sectors. Notable industry contributors include China Resources, Conch Cement, and HAY, alongside major consumer brands such as McDonald's China, PepsiCo, and Unilever, all of which are committed to advancing sustainable practices.

Investment and ecosystem partners are also on board, including Africa Climate Ventures and the Global CCS Institute. This collaborative approach fortifies the program's mission to leverage expertise across various disciplines to catalyze significant changes.

Davis Lin, Tencent's Senior Vice President, remarked on the necessity to accelerate the deployment of impactful technologies, emphasizing the significance of the CarbonX program in fostering solutions that transition from theoretical applications into tangible results for real-world scenarios.

Similarly, Professor Jerry Yan, a distinguished member of the European Academy of Sciences and co-chairman of the CarbonX Expert Committee, highlighted the importance of innovation not being constrained by specific technologies. He advocated for cross-sector collaboration to expedite the craftsmanship of practical and scalable solutions to meet climate goals.

Call for Innovation

The application phase for CarbonX 2.0 is currently open, welcoming submissions from startups, established businesses, and academic institutions until May 2025. The selection process unfolds in two phases: the first phase will shortlist 10 to 15 teams by September 2025, while one to three winning teams will be announced by February 2026.

Winning teams will be bestowed with grant funding and a range of resources to aid in the development and implementation of their transformative projects. A panel of experts from various fields will evaluate the submissions based on their innovative quality, potential impact, and feasibility, ensuring that the most promising ideas receive the support they need.

The unveiling of CarbonX 2.0 coincides with the Sustainable Social Value Innovation Summit, held in Beijing, which serves as a platform to foster dialogues around achieving UN Sustainable Development Goals through innovation and collective action.

For more information about the CarbonX Program 2.0, visit the official website for ongoing updates and further opportunities to engage in this transformative initiative.