Tencent has signed a 10 year agreement to purchase 300,000 carbon removal credits from an agroforestry project in Sulawesi, Indonesia. The deal is the company's first carbon credit purchase outside China and supports its goal of carbon neutrality by 2030. Google and McKinsey also bought credits from the same project, with Google taking 260,000 and McKinsey 75,000 credits. The average price for agroforestry credits in Asia is around $21.40 per credit according to Sylvera. This deal shows growing corporate demand for nature based carbon removal in Southeast Asia. Tencent, Google, and McKinsey all committed to long term offtake from the same project, which signals confidence in agroforestry as a verifiable removal method. The 10 year contract length also suggests buyers are looking for durable carbon removal rather than one off offsets. The price point around $21 per credit is notable for the voluntary carbon market and may set a benchmark for similar projects in the region.
