1 big thing: Biden empowers the wonks 

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2. 🛢️ Court restores Gulf lease sale scope, and more policy notes

3. Charted: China's coal additions

4. Climate Week's split-screen 

5. 🚗 Number of the day: 21%

6. 🛢️Quoted

🧭 The compass is pointing due weekend, and we won't delay the trip — today's newsletter has a Smart Brevity count of just 1,157 words, 4.5 minutes.

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Biden's new "American Climate Corps" aims to enlist 20,000 young people

1 big thing: Biden pushes youth climate corps

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2. Bonus policy note: permitting EV charging

3. Who did not make the climate summit cut

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4. Oil slips as Fed decision looms

5. Here comes the next U.S. battery materials plant

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💰Tech number of the day: $1 billion

6. Catch up fast on finance: Banks and Bill Clinton

🎭 There's drama around today's U.N. climate summit. We'll get to that and more with a Smart Brevity count of 1,116 words, 4 minutes.

🚨 Big overseas: U.K. Prime Minister Rishi Sunak plans to scale back some climate commitments in a "major policy shift," the BBC reports.

A 2030 ban on the sale of new petro-powered cars may be delayed, per multiple outlets. Carbon Brief has a nice summary.

🎶 Exactly 50 years ago, the Allman Brothers Band was No. 1 on the Billboard album charts with "Brothers and Sisters," which has today's intro tune...

1 big thing: What to watch for at Climate Week

The new front in Big Oil's courthouse climate fight

2. The new front in Big Oil's courthouse climate fight

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3. How El Niño contributes to 2023's extreme weather

4. Biden under pressure to ease offshore wind woes

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5. Charted: slowing progress on power access

6. Catch up fast on finance: planes, oil, startups

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🗓️ It's "climate week," so expect news — and lots of noise. We'll cut through the chatter, starting with today's Smart Brevity count of 1,134 words, 4.5 minutes.

🖋️ Situational awareness: California Gov. Gavin Newsom will sign bills that force big companies to disclose emissions and climate risks. AP has more.

🎸This week in 1971, glam rock pioneers T. Rex released the album "Electric Warrior," which provides today's intro tune...

1 big thing:  A big climate shift

2. 🏃🏽‍♀️U.S. policy news and notes: SEC, DeSantis, EPA

3. Carbon removal player plans big projects in Africa

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4. 🏃🏽‍♀️Catch up fast: Crude, coal, and misleading claims

5. Canada's awful summer gives way to a burning fall

6. 💬 Quote of the day

🤦‍♂️ Yes, we've got a ludicrous "Blade Runner" homage today, but lots of important news too — all with a Smart Brevity count of just 1,178 words, 4.5 minutes.

⚡ Axios Pro is out with a new AI policy whitepaper — the legislation, lawmakers and companies to watch right now. Download it here.

🎶 This week in 1991, hip-hop geniuses A Tribe Called Quest dropped "The Low End Theory," so let's sizzle our retinas with today's intro tune...

1 big thing: COP28 gets local with U.S., China co-chairs

2. The peak oil demand battle is in full bloom

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Treasury aims to boost banks' climate plans

3. Breaking: Treasury aims to boost banks' climate plans

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4. Bonus policy notes: Climate corps and industrial emissions

5. New venture fund — with a side of shade

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6. 🏃🏽‍♀️Catch up fast on tech: Amazon and Google

7. 🛢️ Petro-number of the day: 23%

🍩 Good morning! Today's newsletter has a Smart Brevity count of 1,191 words, 4.5 minutes.

🎶 This week marks 45 years since Funkadelic released the album "One Nation Under a Groove," so let's pledge allegiance with today's intro tune...

National

The Treasury Department wants to improve the quality and consistency of Wall Street efforts to align finance with long-term "net-zero" emissions.

Driving the news: Treasury on Tuesday unveiled "Principles for NetZero Financing & Investment."

The voluntary effort looks to promote "consistency and credibility" in the large numbers of banks and other financial institutions with targets.

The goal of the "best practices" is aiding financial players that already have targets and those that set them going forward.

Why it matters: Private sector lending, underwriting and other services influence the trajectory of energy transition.

How it works: The Treasury document lays out nine principles, such as "credible metrics and targets," ensuring transparency on progress, and "robust" governance.

Treasury also said several philanthropies including Bezos Earth Fund will provide $340 million combined.

It's partly for research, data and technical resources to help financial players develop and execute commitments.

A Treasury official said the money would not flow to banks but rather the "broad ecosystem" of non-governmental organizations (NGOs) and researchers working on the topic.

The intrigue: One section of the wide-ranging Treasury document urges institutions to consider "managed phaseout practices." 

That means "financing, investing, or advisory services that support a managed and accelerated transition from high-emitting to zero- or near-zero emissions assets."

The bottom line: The wording is delicate, but Treasury is looking to help enable movement away from fossil fuels.

"Principles for NetZero Financing & Investment."

The voluntary effort looks to promote "consistency and credibility" in the financial sector

Environment

The Treasury Department wants to improve the quality and consistency of Wall Street efforts to align finance with long-term <a class="gtmContentClick" data-vars-link-text="&quot;net-zero&quot; emissions" data-vars-click-url="https://www.un.org/en/climatechange/net-zero-coalition" data-vars-content-id="063e2ec5-8e8c-4dcc-8aa0-3da222637f42" data-vars-headline="Treasury aims to boost banks&#x27; climate plans" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.un.org/en/climatechange/net-zero-coalition" target="_blank">&quot;net-zero&quot; emissions</a>.Driving the news: Treasury on Tuesday unveiled <a class="gtmContentClick" data-vars-link-text="&quot;Principles for NetZero Financing &amp; Investment.&quot;" data-vars-click-url="https://home.treasury.gov/system/files/136/NetZeroPrinciples.pdf" data-vars-content-id="063e2ec5-8e8c-4dcc-8aa0-3da222637f42" data-vars-headline="Treasury aims to boost banks&#x27; climate plans" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://home.treasury.gov/system/files/136/NetZeroPrinciples.pdf" target="_blank">&quot;Principles for NetZero Financing &amp; Investment.&quot;</a>

Ominous forecasts about the impact of climate change serve as the backdrop for the world — led by U.S. lawmakers and companies — to debate big action on the problem, which could upend energy systems and our way of life.

Energy & Environment

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

President Biden wants muscular federal use of a key metric that estimates damages from each added ton of greenhouse gases emitted.

Why it matters: This might shake up big decisions, but it depends on how it's implemented, how fast, and who's in the Oval Office.

"It will be the first time this 'whole of government approach' is used to evaluate the climate consequences of government actions," Richard Revesz, who heads the White House Office of Information and Regulatory Affairs, tells the New York Times.

Driving the news: Agencies will more broadly apply the "social cost of greenhouse gas emissions" — long part of regulations — in procurement, budgeting and environmental reviews.

State of play: The social cost tries to tally impacts from rising sea levels, changes in labor productivity, farm output, human health and other climate effects.

The use "allows better comparisons to other costs and benefits of agency decisions that may also be presented in dollar figures," the White House announcement states.

The other side: Sen. Shelley Moore Capito, the top environment committee Republican, said Biden officials are using "unproven figures" to try to justify policies that increase costs to families, "hamstring" employers and "delay job-creating infrastructure projects."

The big picture: The White House noted the government spends over $630 billion annually on goods and services.

"Agencies should consider procurements of large, durable, energy-consuming products and systems that could serve as pilots," the policy states.

Beyond procurement, examples of expanded use of the metric include assessing costs and benefits of discretionary grants and evaluating overseas aid decisions.

Catch up fast: Some of this was already in progress.

The White House noted the Federal Acquisition Regulatory Council has already sought input on using the social cost in procurement. The announcement also pointed to the Postal Service's EV purchase efforts.

Elsewhere, an interim White House Council on Environmental Quality guidance delves into using the social cost in National Environmental Policy Act reviews.

The intrigue: Social cost estimates are tricky and disputed.

A Biden administration working group set an interim figure of $51 per metric ton, mirroring an Obama-era value; but officials are expected to raise it substantially.

Agencies will have discretion in what estimates to use, a White House official tells Axios.

The bottom line: The wonky move could stitch climate policy more deeply into the fabric of government decisions.

Feds urged by Biden to widen use of "social cost" on climate change

Social cost estimates are tricky and disputed..

Climate change

Closer

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The electric vehicle stakes are high as the United Auto Workers begins its unprecedented strike against General Motors, Ford and Stellantis.

Why it matters: The strike can't be untethered from the EV transition as Detroit automakers invest heavily in electric models.

The big picture: "We will not let the EV industry be built on the backs of workers making poverty wages while CEOs line their pockets with government subsidies," UAW President Shawn Fain said in an op-ed.

The other side: Automakers want a deal that ensures they can compete with non-unionized automakers like Tesla, which already has a cost advantage over the Detroit Three.

"We are disappointed by the UAW leadership's actions, despite the unprecedented economic package GM put on the table," GM said, citing an offer of "historic" wage increases.

What they're saying: "We believe a strike lasting longer than 4 weeks would be a body blow to the EV ambitions of GM and Ford in 1H24 and delay many aspects of this initial important EV push," WedBush Securities analysts said in a note.

The bottom line: Detroit faces tough choices. A long strike hurts their EV rollout, while UAW demands mean big costs that put upward cost pressure on EVs.

"Tesla is the clear winner in this unfortunate situation now developing in Detroit," WedBush said.

Editor's note: This story originally published on Sept. 15. 

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How EV worries are helping fuel the historic UAW strike

"Tesla is the clear winner in this unfortunate situation now developing in Detroit."

United Automobile Workers

Electric vehicles

The electric vehicle stakes are high as the United Auto Workers <a class="gtmContentClick" data-vars-link-text="begins its unprecedented strike" data-vars-click-url="https://link.axios.com/click/32720859.51712/aHR0cHM6Ly93d3cuYXhpb3MuY29tLzIwMjMvMDkvMTUvdWF3LXN0cmlrZS11bml0ZWQtYXV0by13b3JrZXJzLXVuaW9uLWRldHJvaXQtdGhyZWU_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPW5ld3NsZXR0ZXJfYXhpb3NnZW5lcmF0ZSZzdHJlYW09dG9w/62f285f2d140b63a6d082370B114bfbd9" data-vars-content-id="3479f3b4-b986-4f76-b11b-27c23b0f5648" data-vars-headline="How EV worries are helping fuel the historic UAW strike" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/32720859.51712/aHR0cHM6Ly93d3cuYXhpb3MuY29tLzIwMjMvMDkvMTUvdWF3LXN0cmlrZS11bml0ZWQtYXV0by13b3JrZXJzLXVuaW9uLWRldHJvaXQtdGhyZWU_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPW5ld3NsZXR0ZXJfYXhpb3NnZW5lcmF0ZSZzdHJlYW09dG9w/62f285f2d140b63a6d082370B114bfbd9" target="_blank">begins its unprecedented strike</a> against General Motors, Ford and Stellantis.Why it matters: The strike can&#x27;t be untethered from the <a class="gtmContentClick" data-vars-link-text="EV transition" data-vars-click-url="https://www.axios.com/energy-environment/electric-vehicles" data-vars-content-id="3479f3b4-b986-4f76-b11b-27c23b0f5648" data-vars-headline="How EV worries are helping fuel the historic UAW strike" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/energy-environment/electric-vehicles" target="_self">EV transition</a> as Detroit automakers invest heavily in electric models.

The White House is cobbling together a program under existing powers to bring young people into low-carbon energy and climate resilience jobs.

Driving the news: Officials just unveiled the "American Climate Corps." It's an executive branch stab at the New Deal-inspired "Civilian Climate Corps" idea, which the White House unsuccessfully urged Congress to create and fund with billions of dollars in what became the Inflation Reduction Act.

The big picture: Unveiled during Climate Week, the corps is a paid training program that aims to provide "pathways to high-quality employment opportunities in the public and private sectors," according to the White House.

It envisions training in areas like wetlands restoration, low-carbon energy deployment, forest management, and more.

The goal is to move 20,000 people through the program in the first year.

What we don't know: Details about funding and operation, even as the federal website for interested parties goes live today.

White House climate adviser Ali Zaidi told reporters that more about the structure and governance would arrive in coming weeks.

What's next: He said there will be a formal agreement among six agencies, including the Labor and Energy Departments. Each will bring existing authorities and resources, he said. 

Zaidi said the launch will spur interest among states, local governments, philanthropies, and the private sector.

"We are very keen to harness that energy through this coordinated initiative," Zaidi told reporters. Getting people into "good paying union jobs" is a priority, he adds.

Zoom in : The White House provided a few initial specifics. 

For example, AmeriCorps and U.S. Forest Service are launching "Forest Corps" — a five-year, $15 million initiative that's the "first major interagency partnership" under the American Climate Corps.

What we're watching: The politics, of course, as President Biden's 2024 campaign looks to energize young voters.

A jobs corps is a years-long priority for youth activists — some of the same people bummed by other White House moves like approving ConocoPhillips' Willow oil project in Alaska.

Of note: Varshini Prakash, executive director of the youth-focused Sunrise Movement, praised the program on a White House press call. The group has long pushed for creating a climate corps.

The bottom line: The White House said the corps will help develop the workforce needed to meet U.S. climate goals. But lots of blanks need filling in.

A paid training program aims to provide "pathways to high-quality employment opportunities."

White House

The White House is cobbling together a program under existing powers to bring young people into low-carbon energy and climate resilience jobs.Driving the news: Officials just unveiled the &quot;American Climate Corps.&quot; It&#x27;s an executive branch stab at the New Deal-inspired &quot;Civilian Climate Corps&quot; idea, which the White House unsuccessfully <a class="gtmContentClick" data-vars-link-text="urged Congress" data-vars-click-url="https://www.axios.com/2021/06/30/biden-clean-standard-budget-reconciliation" data-vars-content-id="8f234bcf-7cc9-4b0f-ab36-de00365d12a2" data-vars-headline="Biden&#x27;s new &quot;American Climate Corps&quot; aims to enlist 20,000 young people" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2021/06/30/biden-clean-standard-budget-reconciliation" target="_self">urged Congress</a> to create and fund with billions of dollars in what became the Inflation Reduction Act.

California is hardly the first state to sue Big Oil over climate change, but a new case is worth watching, nonetheless.

Catch up fast: The Golden State's Democratic governor and attorney general on Saturday unveiled litigation against Exxon, Chevron and other oil giants.

It alleges decades of deception about the effects of their products, and seeks damages for ways global warming is hurting California.

Why it matters: The complaint — which follows a suite of other ongoing cases by state and local governments — has legal, political and financial ramifications.

The politics can't be ignored. Gov. Gavin Newsom has worked to create a national political profile and reportedly has presidential aspirations.

The rollout was a choreographed, multiday affair, and even included a video.

The breadth is something. The case filed in state court goes into great detail seeking to tie oil companies to vast damages in the country's most populous state. 

They include extreme heat, wildfires, flooding, harms to the state's huge farm sector, public health impacts and much more.

The stakes are immense. California has spent tens of billions on adapting to and addressing climate damage, with multiples of that expected in years ahead, the suit claims.

The complaint seeks an industry-funded abatement fund, and other "equitable relief" and damages.

It also asks the state court to force companies to prevent "further pollution, impairment and destruction" of state resources.

The other side: The American Petroleum Institute, one of the defendants, said Congress, not the courts, should make policy.

API General Counsel Ryan Meyers, in a statement, called it part of a "coordinated campaign to wage meritless, politicized lawsuits against a foundational American industry and its workers."

Exxon, Chevron, and other oil giants are being sued for their role in a warming climate.

California is hardly the first state to <a class="gtmContentClick" data-vars-link-text="sue Big Oil over climate change" data-vars-click-url="https://www.theguardian.com/us-news/2023/jun/07/climate-crisis-big-oil-lawsuits-constitution" data-vars-content-id="cbbae52c-54d6-490c-855f-0915352ce6a0" data-vars-headline="The new front in Big Oil&#x27;s courthouse climate fight" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.theguardian.com/us-news/2023/jun/07/climate-crisis-big-oil-lawsuits-constitution" target="_blank">sue Big Oil over climate change</a>, but a new case is worth watching, nonetheless.Catch up fast: The Golden State&#x27;s Democratic governor and attorney general on Saturday unveiled <a class="gtmContentClick" data-vars-link-text="litigation" data-vars-click-url="https://oag.ca.gov/system/files/attachments/press-docs/FINAL%209-15%20COMPLAINT.pdf" data-vars-content-id="cbbae52c-54d6-490c-855f-0915352ce6a0" data-vars-headline="The new front in Big Oil&#x27;s courthouse climate fight" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://oag.ca.gov/system/files/attachments/press-docs/FINAL%209-15%20COMPLAINT.pdf" target="_blank">litigation</a> against Exxon, Chevron and other oil giants.<ul><li>It alleges <a class="gtmContentClick" data-vars-link-text="decades of deception" data-vars-click-url="https://www.nytimes.com/2023/09/15/business/california-oil-lawsuit-newsom.html" data-vars-content-id="cbbae52c-54d6-490c-855f-0915352ce6a0" data-vars-headline="The new front in Big Oil&#x27;s courthouse climate fight" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.nytimes.com/2023/09/15/business/california-oil-lawsuit-newsom.html" target="_blank">decades of deception</a> about the effects of their products, and seeks damages for ways global warming is hurting California.</li></ul>

Ben Geman

Stories

Feds urged by Biden to widen use of "social cost" on climate change

Biden's new "American Climate Corps" aims to enlist 20,000 young people

Treasury aims to boost banks' climate plans

The new front in Big Oil's courthouse climate fight

How EV worries are helping fuel the historic UAW strike

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🫡 Biden's climate corps

🏡 COP28 goes local

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