Tencent and CATL have joined the Action for a Resilient Climate (ARC) coalition in Singapore. The group aims to purchase at least 10 million metric tonnes of high-integrity carbon credits by 2030 to support decarbonization projects across Asia. This initiative comes as the voluntary carbon market faces a slump in corporate demand due to greenwashing concerns. By coordinating purchases with other firms like Mitsubishi and Vale, the coalition hopes to provide the financial certainty needed to scale high-quality climate projects.
