Tencent, CATL Join 10 Million-Ton Carbon Credit Push
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Tencent and CATL have joined the Action for a Resilient Climate Coalition, aiming to purchase at least 10 million tons of carbon credits by 2030. This initiative comes as corporate demand for carbon offsets declines, with purchases dropping to 153.5 million tons last year, the lowest since 2020. The coalition seeks to enhance trust in the carbon market, which has faced scrutiny over the accuracy of climate benefits from projects. Tencent's VP emphasized the need for trust and scientific rigor to drive climate finance.
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