Prnewswireยท2024-12-03 08:47Core Insights - Tencent has launched the CarbonX Program 2.0 to advance climate technologies and capabilities for achieving net-zero emissions by 2050, expanding its focus from China to global innovations [1][2] - The program aims to address the challenge that 75% of necessary decarbonization solutions rely on immature technologies, aligning with the goals of the Paris Agreement [2] Program Details - CarbonX 2.0 will invest tens of millions of dollars in early-stage technologies across four key areas: - Carbon Dioxide Removal (CDR) with pilot projects in Kenya [3] - Long-Duration Energy Storage (LDES) with 100-kilowatt pilot projects in the Maldives [3] - CCUS for the Steel Industry with projects in Serbia [3] - CarbonXmade (CCU) focusing on integrating captured carbon into consumer products [3] Partnerships and Ecosystem - The program has formed partnerships with various industry leaders including China Resources, Conch Cement, and Unilever, as well as investment partners like Africa Climate Ventures and Lightspeed China Partners [4] - Ecosystem partners include the African Development Bank and the Global CCS Institute, enhancing the program's collaborative efforts [4] Application Process - The application period for proposals is open until May 2025, welcoming submissions from startups, established companies, and research institutions [5] - The selection process consists of two phases: - Phase one will shortlist 10 to 15 teams by September 2025 [6] - Phase two will select 1 to 3 winning teams by February 2026, which will receive funding and resources [7] Event and Context - CarbonX 2.0 was unveiled at the Sustainable Social Value Innovation Summit in Beijing, aimed at fostering discussions on achieving the UN Sustainable Development Goals [8]