Chinese technology giant Tencent will be entitled to purchase at least one million carbon credits over a 15-year period from GenZero’s investment portfolio, under a new partnership with the Temasek-backed decarbonisation platform.
The credits, which represent the avoidance or removal of at least one million tonnes of greenhouse gas emissions, will be sourced from verified projects adhering to international standards such as Verra, Gold Standard, or the Paris Agreement’s Article 6 mechanism, the companies announced in a joint statement.
The agreement is designed to channel capital into high-integrity climate projects, boost transparency, and rebuild trust in global carbon credit markets, which have come under scrutiny in recent years over concerns about the credibility of some credits.
As part of the collaboration, Tencent and GenZero will prioritise initiatives in regions where climate finance is most urgently required, with a focus on delivering additional benefits such as improved livelihoods for nearby communities.
To mitigate risks, the companies will conduct pre-feasibility assessments and adopt advanced monitoring, reporting, and verification (MRV) technologies. They will also jointly explore new investment opportunities in nature-based solutions, climate technologies, and carbon market infrastructure.
Frederick Teo, CEO of GenZero, said the partnership would span the platform’s three core investment pillars: nature-based solutions, technology-based solutions, and ecosystem enablers. Xu Hao, Vice-President of Tencent’s Sustainable Social Value unit, added that the collaboration would combine Tencent’s digital strengths with GenZero’s domain expertise to “accelerate the global transition to net zero”.
