Potential offtaker

Tencent Holding Limited

www.tencent.com

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Which other companies from China are actively involved in decarbonization initiatives?
  • Salcomp
  • Sungrow
  • Geely Automobile Holdings Limited
  • Sinopec Oilfield Service Corporation
  • Laobaixing Pharmacy Chain JSC
  • Perfect World Co., Ltd.
  • Tencent Holding Limited is a Chinese multinational conglomerate that operates in the Internet Media & Services sector. Founded in 1998, Tencent has grown to become one of the largest companies in the world, with a market capitalization of over $700 billion as of 2021. The company is headquartered in Shenzhen, China, and has operations in various countries around the world.

    Tencent's business model is centered around its social media and gaming platforms, which include WeChat, QQ, and PUBG. These platforms have a combined user base of over 1 billion people, making Tencent one of the largest social media companies in the world. In addition to its social media and gaming businesses, Tencent also operates in the areas of e-commerce, fintech, and cloud computing.

    As a large multinational corporation, Tencent is committed to decarbonisation and reducing its environmental impact. The company has set ambitious targets to reduce its carbon emissions and increase its use of renewable energy. In 2020, Tencent announced that it would achieve carbon neutrality by 2030, making it one of the first Chinese companies to set such a target.

    One of the ways that Tencent is working towards decarbonisation is through its corporate energy strategy. The company has implemented a range of energy efficiency measures across its operations, including the use of energy-efficient data centers and the optimization of its cooling systems. Tencent has also invested in renewable energy projects, including wind and solar power, to reduce its reliance on fossil fuels.

    In addition to investing in renewable energy projects, Tencent has also entered into corporate power purchase agreements (PPAs) to support the development of new renewable energy projects. In 2018, Tencent signed a PPA with a wind farm in Norway, which will provide the company with renewable energy for its data centers in Europe. Tencent has also signed PPAs with wind and solar projects in China, demonstrating its commitment to supporting the growth of renewable energy in its home market.

    Tencent's commitment to decarbonisation and renewable energy is not just limited to its own operations. The company is also working with its suppliers and partners to encourage them to adopt more sustainable practices. Tencent has developed a green supply chain program, which aims to reduce the environmental impact of its supply chain by promoting energy efficiency, reducing waste, and increasing the use of renewable energy.

    Overall, Tencent Holding Limited is a leading player in the Internet Media & Services sector, with a strong commitment to decarbonisation and renewable energy. The company's ambitious targets to achieve carbon neutrality by 2030 and its investments in renewable energy projects and corporate PPAs demonstrate its leadership in this area. As Tencent continues to grow and expand its operations around the world, its commitment to sustainability will be a key factor in its success.

    ✓ Science Based Targets member
    ✓ Declared Net Zero commitment