Tencent will buy 300,000 carbon removal credits over 10 years from a Sulawesi agroforestry project developed by Singapore-based carbon developer Thryve.Earth, marking the Chinese tech company’s first such deal outside China.

Google agreed to buy 260,000 credits from the same project, while consulting firm McKinsey & Co. will buy 75,000.

Tencent said it is targeting carbon neutrality across its operations and supply chain by 2030, with offsets used only to supplement emissions cuts and renewable power.

Google described the Sulawesi project as a long-term carbon removal effort that will replace fire-prone invasive grasses with a multi-layered agroforestry system.

Public materials, however, do not specify the project’s registry, methodology, or issuance status.

The transaction comes less than a year after Indonesia lifted a moratorium on new carbon credit sales to foreign buyers, though approvals and trading in the country remain tightly overseen.

🔗 Source: Bloomberg

Recent Tencent developments