EQS-News: Tencent Backs Next-Gen Decarbonization Innovators with Catalytic Funding Through CarbonX 2.0 and Advances Progress Towards Climate Goals

LONDON, June 24, 2026 /PRNewswire/ -- Today, Tencent announced 16 winners of CarbonX 2.0, a global initiative designed to help promising climate solutions grow and scale. The winners will receive a share of nearly US$30 million in catalytic funding, supported by technical resources, expert networks, and opportunities to pilot and scale their solutions for real-world impact. The announcement was made at a flagship event at the London Science Museum, co-hosted with TED during London Climate Action Week 2026.

Tencent is also outlining progress in reducing emissions across its own operations through the use of renewable energy, efficient design and lower‑carbon infrastructure. These efforts are complemented by initiatives that support wider decarbonization, enabled by Tencent's technologies and collaborative ecosystem.

Together, they reflect Tencent's approach to climate action: advancing breakthrough technologies and making measurable progress in reducing emissions for a more sustainable future on a resilient, shared foundation.

CarbonX 2.0 Winners

CarbonX 2.0 received 660 applications from 54 countries and regions across six continents. A cohort of 50 finalists was identified, before 16 winners were selected to receive the critical funding and resources needed to scale their solutions from pilot to real-world deployment.

Ten of the 16 teams span four critical technology areas:

1. Carbon Dioxide Removal (CDR) – technologies that remove CO₂ directly from the atmosphere, with pilots in Kenya
2. CCUS for Steel – solutions to reduce emissions in one of the hardest‑to‑abate industrial sectors, with pilots in Serbia and China
3. Carbon Utilization (CCU / CarbonXmade) – converting captured CO₂ into useful materials and products
4. Long‑Duration Energy Storage (LDES) – enabling stable, 24/7 renewable energy systems, with pilots in the Maldives

Six additional teams were selected to receive tailored support, including Measurement, Reporting and Verification (MRV), carbon-credit procurement commitments, and green-premium subsidy mechanisms.

From utilizing geothermal energy to capture CO₂, to creating a water-based organic flow battery for enhanced energy security, and creating sustainable plastics from captured CO₂ emissions, the 16 winning teams exemplify the next wave of climate innovation. With winners from the US, UK, EU, China, Kenya and further afield, CarbonX 2.0 provides the global support, resources and pilot sites that these technologies need to progress and scale.

"The climate challenge demands bold innovation and accelerated action," said Dr. Hao Xu, Vice President of Tencent's Sustainable Social Value and Head of Climate Innovation. "CarbonX 2.0 reflects Tencent's role as a catalyst, connector, and mobilizer within the climate ecosystem. By backing these frontier technologies with substantial funding and access to our extensive network, we are helping unlock the next generation of climate innovation and supporting these solutions as they scale towards commercial viability and global impact."

Progress Towards Tencent's Climate Goals

Alongside driving global climate innovation through CarbonX 2.0, Tencent has marked a key checkpoint in its decarbonization journey with mid-term metrics demonstrating progress against the 2030 goals. As AI continues to reshape global energy demand, Tencent is reducing emissions and scaling renewable energy to meet climate targets, including achieving carbon neutrality across its operations and supply chains and reaching 100% renewable energy by 2030.

Key achievements toward these goals include:

• Scope 1 and 2 emissions were reduced by 2,399,814.9 tCO₂e, and Scope 3 emissions were reduced by 263,962.5 tCO₂e in 2025, while the PUE of owned data centers improved from 1.257 to 1.246 year over year.
• Tencent's next‑generation T‑AIDC data center architecture improves power efficiency to over 98%, enabling high‑performance AI workloads while reducing energy use
• On‑site renewable energy capacity at owned data centers expanded to 63.8MW
• Renewable energy use at self-owned Internet Data Centers increased significantly, rising from 49.8% in 2024 to 83% in 2025, demonstrating strong progress toward the 2030 target.
• Beyond Tencent's own operations, the share of green electricity consumption in leased data centers increased from 3.8% in 2024 to 21.4% in 2025
• Tencent's computing power synergy model enables data centers to match workloads with renewable supply, reducing carbon emissions, supporting grid stability, while cutting costs by over 40%
• Tencent's virtual power plant for steel uses digital twins and AI optimization to shift energy use, reduce emissions and improve grid stability

For media queries, please contact: gc@tencent.com

About CarbonX The CarbonX Program was initiated in 2023 by Tencent, together with industry, investment, and ecosystem partners. It is dedicated to supporting emerging low-carbon technologies with substantial catalytic funding and resources. Now in its second phase, CarbonX 2.0 focuses on cutting-edge CCUS, carbon removal, and long-duration energy storage technologies, and solicits proposals from early-stage teams around the world. It aims to build first-of-its-kind pilot projects in real industrial settings, incubate high-potential startups, and support capacity-building projects. Visit the CarbonX website for further information on the program.

About Tencent Tencent is a global technology and entertainment company focused on creating connections and experiences that matter. Founded in 1998, Tencent is driven by its mission to create "Value for Users" and apply "Tech for Good".

Tencent's communication and social services connect more than one billion people around the world, helping them to keep in touch with friends and family, access transportation, pay for daily necessities, and even be entertained. Tencent also develops and publishes some of the world's most popular video games and other high-quality digital content, delivering rich and immersive interactive entertainment experiences. Tencent also offers a range of services such as cloud computing and other enterprise services to support our clients' digital transformation and business growth. Headquartered in Shenzhen, Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since June 2004.

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