What is Tencent's first international carbon-removal credit deal, and what are its key terms?

Tencent Holdings Ltd has signed its first carbon-removal credit deal outside China, agreeing to purchase 300,000 carbon removal credits over 10 years from an agroforestry project in Sulawesi, Indonesia, developed by Singapore-based Thryve.Earth. The project restores degraded land through a layered mixed-crop farming system—including sugar palm and timber trees in the canopy, papayas, avocado, coffee, and bananas in the mid-layer, and chili and corn at ground level—to sequester carbon, replenish soils, increase biodiversity, and generate income for local farmers. Tencent stated this purchase supports its commitment to achieve carbon neutrality across its operations and supply chain by 2030, emphasizing that while emissions reduction remains the top priority, high-quality carbon credits help address residual emissions and deliver climate impact.

How does the Thryve.Earth agroforestry project in Sulawesi work, and why is it considered economically and ecologically aligned?

The Thryve.Earth project in Sulawesi restores degraded tropical rainforest land—damaged by agriculture, soil erosion, and invasive species—by implementing a 'mixed crop farming system' with three vertical layers: an upper canopy of sugar palm and timber trees, a mid-layer of papayas, avocado, coffee, and bananas, and ground-level annual crops like chili and corn. This design optimizes land productivity, sequesters carbon, replenishes soils, increases biodiversity, and provides diversified income streams for local farmers—making the economic returns 'significantly more valuable than the carbon revenues alone,' thereby aligning carbon sequestration benefits with tangible livelihood incentives.

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