Climate change: Tencent chooses Chinese carbon capture and removal startups to receive RM65.45mil in funding

The company’s CarbonX programme, which finances new technologies that support China’s quest for net zero by 2060, announced 13 winners on Thursday. Once commercialised, each technology has the potential to eradicate 100 million metric tons of carbon dioxide emissions every year, Tencent estimates. — SCMP

Chinese tech behemoth Tencent is extending around 100 million yuan ($13.9 million) to fund technologies that prevent carbon dioxide emissions and suck the greenhouse gas from the atmosphere in a decarbonisation move that looks beyond solutions such as renewable energy and electric vehicles (EVs).

“Renewable energy, electric vehicles, and nature-based solutions are all examples of such bright spots,” said Xu Hao, Tencent’s vice-president of sustainable social value and head of Tencent’s Carbon Neutrality Lab, in an article published on Thursday, referring to conventional green technologies. “However, these solutions will not be enough.”