Akihabara News — Tencent has launched CarbonX Program 2.0, expanding its initiative to foster the next generation of climate technologies essential for achieving a net-zero carbon world by 2050.
Following the perceived success of its first phase in China, this new iteration seeks global innovations to tackle the pressing challenge of climate change, where 75% of the needed solutions for decarbonization involve technologies still in their infancy.
Under the banner of “Tech for Good,” Tencent’s CarbonX 2.0 is designed to help these nascent technologies mature and scale, aligning with the ambitious goals set by the Paris Agreement. The program has opened its doors to proposals worldwide, offering tens of millions in funding to support early-stage technologies across four critical areas: Carbon Dioxide Removal (CDR), which focuses on permanent removal of emissions from the atmosphere; Long-Duration Energy Storage (LDES) to enhance renewable energy integration into power grids; Carbon Capture, Utilization, and Storage (CCUS) specifically for the steel industry; and CarbonX made for integrating captured carbon into products.
This initiative brings together a diverse group of industry, investment, and ecosystem partners to drive these innovations forward. Companies like China Resources, Conch Cement, and international players like Sasol and Unilever are part of this collaborative effort. Investment from firms such as Africa Climate Ventures and Lightspeed China Partners, alongside support from organizations like the African Development Bank, underlines the global scope of CarbonX 2.0.
The program invites submissions until May 2025, targeting startups, established companies, and academic institutions. A rigorous selection process will shortlist teams by September 2025, with final winners announced by February 2026. These winners will gain access to grants and resources to bring their projects to life, evaluated by a panel of experts for innovation, impact, and feasibility.
CarbonX 2.0 was introduced at the Sustainable Social Value Innovation Summit in Beijing, where the focus was on how businesses can contribute to the UN Sustainable Development Goals through innovation and collective action.
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