Temasek’s GenZero, Tencent enter MoU on climate solutions

Tencent will offtake one million carbon credits from GenZero's portfolio.

Temasek’s GenZero and Tencent, an internet and technology company, have entered into a memorandum of understanding (MoU) to mobilise capital towards high-integrity climate solutions.

Under the MoU, Tencent will offtake one million carbon credits within GenZero's investment portfolio over a period of 15 years. This represents an estimated abatement of at least one million tonnes of greenhouse gases.

All projects will be verified under leading international standards or the Paris Agreement Crediting Mechanism to ensure real, measurable, and verifiable emissions reductions.

Both will prioritise projects in areas where finance is most needed, whilst also ensuring that these projects deliver co-benefits such as improved local livelihoods.

Another core focus is to enhance transparency and rebuild trust in international carbon markets by de-risking high-quality carbon projects through the support of pre-feasibility studies, MRV (monitoring, reporting and verification) technology and improving liquidity.