Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Coal-fired power's persistence in Asia is a big climate problem, but the reasons some countries can't quit coal — even as other parts of the world are gradually breaking up with the fuel — aren't always so obvious.

Driving the news: Enter a new paper in Energy Research & Social Science that explores what's driving demand for China's financing of coal-fired power plants in the region, even as other power sources are cost-competitive.

Why it matters: It notes building coal plants that lack CO2-trapping tech is "incompatible" with holding global temperature rise to 1.5 °C above pre-industrial levels — the very longshot goal of the Paris agreement.

  • And the International Energy Agency's main projection shows coal demand growth in India and Southeast Asia over the coming decade, even as it levels off in China and falls elsewhere.

The big picture: Here are some findings from the study led by Tufts University scholars and focuses on India, Indonesia, Vietnam and Bangladesh...

  • China is a willing source of finance, even as multilateral development banks have moved away from coal-fired power, and Chinese policy does not push investors and companies to go beyond host-country environmental standards.
  • There's a suite of existing relationships between Chinese financiers and suppliers on one hand and countries' energy ministries and power companies.

Yes, but: Looking only at Chinese decisions provides a very incomplete picture, because countries receiving finance tend to have several characteristics that favor coal.

  • The list includes absent or limited emissions control policies tailored specifically to the power sector.
  • There are also "monopolistic utility structures," protections for coal-related jobs, and more.
  • Costs for clean power sources are "perceived to be a barrier," though India's posture is changing.

The intrigue: The analysis also explores wider socio-political forces.

  • For instance, they see policymakers in countries building new plants acting under a "stop rule" mindset in which they make decisions "once a minimally-acceptable option emerges."
  • In these cases, that means readily available Chinese finance and cheap tech that helps provide a solution to fast-rising demand.

The bottom line: China's Belt & Road Initiative could do more to unlock markets for Chinese clean energy tech while also meeting the needs of developing countries in a climate-friendly way.

  • But this will only happen if countries "exercise more agency and/or if Chinese overseas investment policies change," the paper argues.

What we're watching: The incoming Biden administration. Per the Financial Times, President-elect Joe Biden has "vowed to hold China accountable for coal investments through its Belt and Road programme."

Go deeper

Ben Geman, author of Generate
Jan 27, 2021 - Politics & Policy

Biden to sign major climate orders, setting up clash with oil industry

Illustration: Aïda Amer/Axios

President Biden will sign new executive actions today that provide the clearest signs yet of his climate plans — elevating the issue to a national security priority and kicking off an intense battle with the oil industry.

Driving the news: One move will freeze issuance of new oil-and-gas leases on public lands and waters "to the extent possible," per a White House summary.

1 hour ago - Sports

Robot umpires inch closer to calling MLB games

The Automated Ball-Strike system (ABS), the tech powering what's colloquially known as robo-umps, is inching ever closer to the big leagues.

Driving the news: The independent Atlantic League — which has partnered with MLB since 2019 — last week announced it was doing away with robo-umps after testing them for the past season-and-a-half.

FBI conducts "court-authorized" search of Rep. Henry Cuellar's home

Rep. Henry Cuellar. Photo: Kevin Dietsch/Getty Images

The FBI said it conducted a "court-authorized" search on Wednesday in the area of the Texas home of Rep. Henry Cuellar (D-Texas).

State of play: "The FBI was present in the vicinity of Windridge Drive and Estate Drive in Laredo conducting court-authorized law enforcement activity," an FBI spokesperson told Axios, adding that they "cannot provide further comment on an ongoing investigation."