Tencent, CATL and Others Join Alliance to Boost Carbon Credit Demand

Published: May 22, 2026 13:33

Save

[CATL and Tencent Join Forces to Boost Carbon Credit Demand] Two of China's largest companies by market capitalization — Tencent and CATL — are joining hands in a new initiative aimed at boosting corporate demand in the cooling carbon credit market. The tech giant and power battery industry leader will join Mitsubishi Corporation, Vale, Osaka Gas, and other enterprises in the Climate Resilience Action Alliance, a non-profit organization established in Singapore on May 19. The alliance aims to promote the practical application of high-quality carbon credits, with a target of alliance members collectively purchasing at least 10,000kt of high-quality carbon credits by 2030.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 mins ago

Honda postpones completion of Astemo consolidation as some regulatory approvals remain pending.

On June 30, Honda Motor announced that the planned capital structure adjustment and consolidation of Astemo, originally scheduled to be completed in the first quarter of fiscal 2027, will be postponed to the end of the third quarter of fiscal 2027, as antitrust reviews and related regulatory approvals in certain countries and regions have not yet been completed.Under the previous agreement, Honda will acquire an additional 21% stake in Astemo from Hitachi. After the transaction is completed, Astemo’s shareholding structure will be adjusted to 61% held by Honda, 19% by Hitachi, and 20% by JIC Capital, making Astemo a consolidated subsidiary of Honda. Honda said the move is aimed at accelerating Astemo’s capabilities in AI, software, and software-defined vehicles (SDVs), while strengthening the group’s overall competitiveness.

5 mins ago

7 mins ago

Ford Motor is recalling certain 2018–2021 Navigator and Expedition vehicles

On June 30, according to the U.S. National Highway Traffic Safety Administration (NHTSA), Ford Motor is recalling certain 2018–2021 Navigator and Expedition vehicles, 2020–2021 Explorer and Lincoln Aviator vehicles, and 2021 F-150 pickup trucks, totaling 741,195 units.The recall is due to a potential issue in which the transmission park pawl may unintentionally engage while the vehicle is moving, potentially damaging the parking system. This could cause the vehicle to roll away when parked, increasing the risk of a crash.

7 mins ago

11 mins ago

Uber and Waymo, Alphabet’s autonomous driving unit, ended their self-driving partnership in Phoenix, Arizona

On June 30, Uber and Waymo, Alphabet’s autonomous driving unit, ended their self-driving partnership in Phoenix, Arizona. Under an agreement reached in 2023, Uber had integrated Waymo’s autonomous vehicles into its ride-hailing and food delivery platforms for a pilot program in Phoenix. Uber said the project was always intended to be a limited-scale pilot, involving just over a dozen autonomous vehicles. The company is now preparing to launch a new autonomous driving partnership in Phoenix, although it has not yet disclosed the new partner. Waymo said the vehicles involved in the pilot have been returned to its self-operated Phoenix fleet and will continue to provide services through the Waymo app. The two companies’ partnerships in Austin and Atlanta will continue. The end of the Phoenix partnership comes shortly after Waymo recalled nearly 3,900 robotaxis in the United States due to a software issue.

11 mins ago