Tencent recognized 13 outstanding teams in the first phase of its CarbonX program, providing them with approximately 100 million yuan in financial support to promote new climate technologies. The program focuses on carbon capture, utilization, and storage, as well as carbon removal through technology to combat climate change. These innovative solutions aim to reduce emissions from industries like steel and cement and accelerate the transition to a low-carbon economy.
M. Hao Xu, vice-president of Tencent, emphasized the importance of technological innovation in achieving carbon neutrality and creating a sustainable future. The program brings together experts from academia, industry, and investment communities to support diverse participants in developing cutting-edge low-carbon technologies.
The winning projects include using steel slag to capture carbon, converting CO2 into sustainable aviation fuel, and developing new methods to capture CO2 from the atmosphere. Tencent also collaborates with Tsinghua University to develop measurement, reporting, and verification tools for decarbonization progress. Along with financial and advisory support, selected projects will have the opportunity to collaborate with industrial partners and test their research in real-world settings.
Tencent plans to launch the second phase of CarbonX globally by the end of the year to continue fostering innovation in early-stage climate technologies. By supporting these groundbreaking projects, Tencent demonstrates its commitment to promoting sustainable social innovations and mitigating the impacts of climate change.
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