Tencent highlights 50 finalists in CarbonX Program 2.0 for climate solutions

Tencent announced the selection of 50 finalists for its CarbonX Program 2.0, representing 12 countries and regions. This program aims to support climate technology innovations essential for achieving net-zero emissions by 2050. The finalists emerged from over 660 applicants across 54 countries, competing for a total funding pool of RMB200 million (approximately US$28 million).

The CarbonX Program addresses the funding gap often encountered by climate innovations, termed the 'Valley of Death,' which hinders the transition from early-stage development to market readiness. By fostering a collaborative ecosystem among researchers, entrepreneurs, and industry leaders, the program provides financial backing alongside vital technical resources and mentorship.

Davis Lin, Senior Vice President of Tencent, emphasized the significance of collective action in combating the climate crisis. “The climate crisis is the defining challenge of our time... we aim to accelerate technologies that can store, transform, and reduce CO₂ emissions at scale,” he stated.

CarbonX 2.0 has evolved from its initial focus in China to a global initiative. The finalists are engaged in four primary areas: Carbon Dioxide Removal (CDR), industrial decarbonization through carbon capture utilization and storage, transforming captured carbon into consumer products, and long-duration energy storage using flow batteries.

A global panel of experts will select the winning teams in early 2026, with winners receiving grants and resources for their projects. This announcement was made during the CarbonX Summit 2025 held in Shenzhen, which brought together leaders from various sectors to discuss the role of innovation in climate action.

Hao Xu, Head of Climate Innovation at Tencent, noted the importance of supporting climate entrepreneurs. He stated, “Sustainability can only be achieved through innovation... addressing one of humanity's most urgent challenges while creating shared value for future generations.”