Internet Giant Tencent Dipped Its Toe Into Carbon Neutrality

JUN 22, 2022

Since China declared the ‘Double Carbon Goal’ (carbon peak and carbon neutrality) as a national strategy, many internet giants have flocked to this promising market valued at hundreds of trillions of CNY. And now, Tencent is in.

On June 9, Tencent unveiled two smart energy products, ‘Energy Connector (Tencent EnerLink)’ and ‘Energy Digital Twin (Tencent EnerTwin)’, expressing their understanding of energy digitalization and low-carbon transformation based on an internet mindset. This is the first release of its energy business which has been turned into an independent level-1 department within Tencent Cloud.

Li Qiang, vice president of Tencent and president of Tencent Intelligent Industry and Service, said that in September 2018, Tencent conducted a high-profile transformation of its organizations and proclaimed that it would root in the consumer internet and meanwhile embrace the industrial internet. Carbon neutrality is the key lever Tencent grips for its exploration in the new arena and has been established as the company’s ten-year strategy.

In April 2021, Tencent set up a new division called Sustainable Social Value Organization and announced an investment of CNY 50 billion (USD 7.67 billion). It also established a Carbon Neutrality Lab within the division.

On February 24, 2022, Tencent published its Carbon Neutrality Goal and Roadmap Report which stipulates that by 2030, Tencent will achieve carbon neutrality within its own operations and supply chain and use green power for 100% of all electricity consumed.

Tencent aims to make the most of its trump card, advanced digital technologies, to facilitate the connectivity and smartlization of industries that are closely related to carbon neutrality goals, such as electricity, steel, cement, and chemical industry.