Catona Climate Partners with Tencent to Deliver High-Quality Nature-Based Carbon Removal Solutions

LOS ANGELES, Jan. 17, 2025 /PRNewswire/ — Catona Climate, a climate finance company, has partnered with Tencent, a leading technology and entertainment company, to support Tencent's decarbonization plan, which prioritizes reducing emissions and adopting renewable energy, then addresses residual emissions with high-quality carbon removals.

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Catona and Tencent have reached an agreement to pre-order 3 million tonnes of nature-based carbon removals, to be issued over 14 years between 2027 and 2040. Tencent, whose emissions reductions goals were validated and approved last year by the Science Based Targets initiative (SBTi), has committed to achieving carbon neutrality across its own operations and supply chain, as well as using green power for 100% of all electricity consumed, by no later than 2030.

"For Catona, the ideal enterprise partner supports high-impact carbon removal projects alongside internal decarbonization efforts, while also empowering their customers and clients to take climate action," said Tate Mill, CEO of Catona Climate. "We're thrilled to team up with Tencent to help them achieve ambitious climate commitments over time and support their efforts to ingrain climate action across their operations, their customer base, and society as a whole."

"At Tencent, we are committed to driving the transition toward a low-carbon society and a more sustainable future, beginning with our own commitment to achieve carbon neutrality by the end of this decade," said Hao Xu, Tencent's Vice President of Sustainable Social Value and Head of Tencent's Carbon Neutrality Lab. "Our partnership with Catona is focused on identifying and supporting high-quality, nature-based carbon removals from a global portfolio of projects that are not only effective but also deliver positive social and environmental impact."

Catona and Tencent, united by a desire to mobilize and scale global climate action, are exploring other opportunities to work together within the context of Tencent's social value model.

Beyond its carbon-neutral commitment, Tencent has demonstrated its dedication to a sustainable society through numerous actions, most recently launching an initiative that will provide catalytic funding for innovative early-stage climate technologies, including carbon removal, essential to achieving Paris Agreement targets.

In 2021, Tencent established its Sustainable Social Value (SSV) Organization as part of its strategy to promote sustainable innovations for social good and improve social well-being through continuous innovation in technology, products, and operating models. Guided by its 'Tech for Good' mission, the company hopes to foster open innovation and knowledge sharing, empower its customer base, and harness its technical capabilities to help its community — and society at large — achieve net zero.

About Catona Climate

Catona Climate is a climate finance company that delivers high-quality carbon solutions to businesses everywhere, helping transform climate pledges into measurable action through rigorously vetted high-impact nature-based carbon projects around the world. Guided by an unwavering commitment to the planet, Catona Climate exists to combat the climate crisis by driving capital to nature and enabling a fair and equitable transition to a net-zero future. Catona Climate is a member of the Beyond Alliance, IETA, and other critical industry groups dedicated to accelerating climate action. For more information, visit Catona.com.

About Tencent

Tencent is a global technology and entertainment company, with products and services that span communication networks, entertainment platforms, and enterprise solutions. These products and services connect individuals and businesses, transforming how people work, live, and play in the digital world.

Headquartered in Shenzhen and listed on the Stock Exchange of Hong Kong since 2004 (00700.HK), Tencent is committed to technology for good to address global challenges and create lasting value for its users, partners, and society.

The company's commitment to corporate responsibility and sustainability is recognized by the Dow Jones Sustainability World Index and Sustainalytics ESG Risk Rating. Time magazine named Tencent among the "World's Most Sustainable Companies" (2024) for its efforts to achieve carbon neutrality across its operations and supply chain by 2030. Tencent is a proud signatory to the United Nations Global Compact.

SOURCE: Catona Climate