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On Thursday, September 23rd, Axios business editor Dan Primack and Axios Today host Niala Boodhoo explored how alternative energy investments toward climate solutions function in the private and public sector today, featuring Sen. Ron Wyden (D-Ore.) and Galvanize Climate Solutions co-founder Tom Steyer.

Sen. Ron Wyden explained his support for overhauling the existing tax code to incentivize companies to reduce their emissions, his belief that all Americans should pay their fair share of taxes, and Congressional efforts to increase electric vehicle usage.

  • On his support for modifying the tax code: “One of the little secrets about the tax code is that many billionaires pay little or no income taxes. The way they do that is they don’t take a wage, and so Americans have read all these stories about prominent billionaires paying virtually nothing in the way of income taxes for years and years on end. I don’t think that’s right.”
  • On the future trajectory of electric vehicles: “Getting a critical mass of these electric vehicles on the road is going to bring down costs. It’s going to be good for the environment, good for marketplace forces, and the American economy.”

Tom Steyer highlighted the importance of cleaning up electricity generation across the country, how the climate tech investment landscape has changed over the last decade, and what areas of climate tech he believes need more attention and investment.

  • On the future of the infrastructure and reconciliation bills: “I believe that the Democratic Party will come to a negotiated place which will include very important climate regulations, climate initiatives, and that specifically they will be encouraging the move to clean electricity generation across the United States during this decade.”
  • On the need for more tangible innovations in climate tech: “It’s going to be incredibly important for us too to do well in the businesses like manufacturing, where you can touch the product. We have dominated the kinds of businesses like software that you can’t touch.”

Axios co-founder and CEO Jim VandeHei hosted a View from the Top segment with HSBC’s Group Chief Sustainability Officer Celine Herweijer, who discussed how sustainability is moving to the forefront of many corporations’ long-term goals.

  • “We’ve committed to essentially have a net zero target across all of our finance commissions portfolio. So to be able to do that, that means fundamentally changing how we finance it, fundamentally changing our risk appetite, changing our culture, our policies, our processes of capability.”

Thank you HSBC for sponsoring this event.

Go deeper: Get smarter, faster on the growing field of climate tech with our free short course.

Go deeper

Definition of success at UN Climate Summit is in flux

Illustration: Annelise Capossela/Axios

The UN Climate Summit in Glasgow is less than 20 days away, and diplomats have entered a crucial period when expectations are raised or lowered to guard against any blowback that might come from a particular outcome.

Driving the news: Officials in the U.S. and abroad are sending clear signals that the odds that COP26 will meet some of its most important goals are diminishing, for a variety of reasons both macro and micro in scale.

Updated Oct 13, 2021 - Axios Events

Watch: A conversation on combating cyberattacks

On Wednesday, October 13th, Axios chief technology correspondent Ina Fried and tech policy reporter Margaret Harding McGill examined the strategies that governments and data-driven industries are employing to protect against harmful cyberattacks, featuring Cybersecurity and Infrastructure Security Agency (CISA) executive director Brandon Wales and Silverado Policy Accelerator co-founder & chairman Dmitri Alperovitch.

Brandon Wales illustrated the need for more action from the private sector in helping the government mitigate ransomware attacks after they’ve occurred, CISA’s new Joint Cyber Defense Collaborative, and the prevalence of both nation-states and criminal organizations executing more cyber-related attacks.

  • On why companies should prepare for potential cyberattacks earlier: “I think part of changing that calculus is for the industry to better understand that the time to grapple with ransomware is not after you’ve been hit, because after you’ve been hit, you’re in an incredibly difficult and challenging circumstance and you’re often going to go with whatever you think is going to be most expeditious to get your network back up and running quickly.”
  • On what sorts of attacks are becoming more common: “I think that we are absolutely in an environment where we are facing both a concerted effort by nation-states to utilize cyber-related attacks to be prepared for future disruptions of our critical infrastructure, to steal our technology and our government secrets, as well as criminal organizations using cyber to further their nefarious criminal enterprises.”

Dmitri Alperovitch clarified how ransomware attacks have impacted global supply chains, how private sector companies can protect themselves from future attacks, and the talent shortage of cybersecurity professionals in the workforce.

  • On the recent rise in ransomware cyberattacks: “Ransomware has been a problem for a while now, but it certainly seems like the attacks have only accelerated, particularly in the last year or so.”
  • On how to fix the shortage of talent in the cybersecurity industry: “There’s no silver bullet, but we have to invest in our education. That’s key. We need to pump out more cyber security professionals out of our academic institutions.”

Axios co-founder and CEO Jim VandeHei hosted a View from the Top segment with Google SVP of Global Affairs Kent Walker, who explained what large tech companies are doing to combat increasing cyberattacks.

  • “We developed new security techniques, we rebuilt our architecture and we adopted a defense in depth approach to security...one example is we take a zero trust approach. We verify anyone accessing our systems, and we use techniques like multi-factor authentication because we knew that going forward, we had to expand the way we're thinking about the whole threat landscape and continually stay evolving and to stay ahead of the attackers.”

Thank you Google for sponsoring this event.

Ben Geman, author of Generate
19 hours ago - Energy & Environment

Key clean power provision likely won't survive in Dems' spending bill

A construction worker walks along a dirt road at the Avangrid Renewables La Joya wind farm in Encino, New Mexico, on Aug. 5, 2020. Photo: Cate Dingley/Bloomberg via Getty Images

A pillar of Democrats' plans to speed deployment of zero-carbon electricity is likely to be cut from major spending and tax legislation they are struggling to move on a party-line vote, per multiple reports and a Capitol Hill aide.

Driving the news: The New York Times, citing anonymous congressional aides and lobbyists, reports that West Virginia Sen. Joe Manchin (D) has told the White House he "strongly opposes" the Clean Electricity Performance Program.