Tencent Announces Winners of Flagship CarbonX Program to Combat Climate Change [Yahoo! Finance]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
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Source: Yahoo! Finance
CarbonX Program , which is aimed at boosting promising new climate technologies. The winners, which emerged from a pool of 30 finalists and more than 300 initial applications, will receive a total of around RMB 100 million US$14 million ) in financial support from Tencent . It showcases the company's commitment to driving sustainable social innovations in the fight against climate change. CarbonX was launched in March 2023 to advance the next generation of low-carbon technologies. Tencent has committed RMB 200 million US$28 million ) in catalytic funding over the next three years to innovative ideas that might otherwise languish or fail to gain traction. CarbonX's first phase focused on carbon capture, utilization, and storage (CCUS), as well as technology-based carbon removal. These solutions were chosen for their unique ability to curb emissions from hard-to-abate industries such as steel and cement, mitigate the continued reliance on fossil fuels, and reduce legacy emissions cr
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