Tech and gaming giant Tencent has partnered with climate finance company Catona Climate in a collaboration centered around nature-based carbon dioxide removal (CDR).
As part of the partnership, Tencent and Catona Climate will pre-order 3 million tonnes of nature-based carbon removals, scheduled for delivery in the period between 2027 and 2040.
This partnership will serve to boost Tencent’s decarbonization strategy, which entails limiting CO2 emissions and powering operations with renewable energy, as well as addressing residual carbon emissions with high-quality CDR solutions.
Headquartered in Shenzhen, China, Tencent has committed to achieving these ambitious goals by 2030, following an emissions reduction plan greenlighted by the Science Based Targets initiative (SBTi).
Besides setting these climate-oriented targets for its own operations, Tencent is also supporting the transition towards a low-carbon emissions society and a more sustainable future for all.
Commenting on the collaboration with Catona Climate, Tencent’s Vice President of Sustainable Social Value and Head of Tencent’s Carbon Neutrality Lab, Hao Xu, shared:
“Our partnership with Catona is focused on identifying and supporting high-quality, nature-based carbon removals from a global portfolio of projects that are not only effective but also deliver positive social and environmental impact.”
In this context, Tencent and Catona Climate are exploring other possible cooperation opportunities that would contribute towards this climate-forward vision, catalyzing further, larger-scale action that would help prevent the worst outcomes of climate change.
Relevant: Catona Climate Secures 250,000 Nature-Based Credits From Indigo Ag
Keeping in line with its efforts to promote carbon management on a broader, more impactful level, Tencent has launched an initiative that will provide vital take-off funding for innovative early-stage climate technologies, including CDR.
Tencent is also making strides via its Tech for Good initiative, where it fosters community collaboration, knowledge exchange, and tech-powered advancements to drive a net-zero future for its users and society as a whole.
Leveraging its power and resources to stimulate positive change, back in 2021, the company introduced its Sustainable Social Value (SSV) Organization, an initiative intended to promote sustainable innovations for social good.
Read more: Tencent To Invest $13.9M In Carbon Capture And Removal Startups
