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Illustration: Sarah Grillo/Axios

Senior House Democrats are floating a big climate bill that's consistent with President Biden's agenda, but it's more of a statement of goals than anything likely to become law as written.

Driving the news: One key pillar is a "clean electricity standard" (CES) that requires utilities to supply 100% of their power from zero-carbon sources by 2035.

  • That's 15 years sooner than a draft that the same Energy and Commerce Committee Democrats floated about a year ago.
  • The 2035 target — which would be an immensely heavy-lift — reflects Biden's position adopted last summer after negotiations with progressives.

The intrigue: Reuters reports that House Energy and Commerce Chairman Frank Pallone suggested senators could try and move the bill through reconciliation. That's the process that makes certain budget and tax measures immune from Senate filibuster.

  • Several environmentalists recently released an analysis of how to craft a CES consistent with the narrow reconciliation rules.
  • Co-author Leah Stokes, a UC-Santa Barbara policy expert, said the bill's CES as written would not fit. But she said the measure is helping to set the agenda.
  • “It’s about momentum around the clean electricity standard and really building on Joe Biden’s campaign and showing that Congress is going to take up these specific targets and timetables,” she tells Axios.

What's next: A detailed Democratic summary of the 1,000-page bill is here. Watch for other provisions that might fit within reconciliation, such as capitalizing a new "Clean Energy and Sustainability Accelerator" — or "green bank" — that would finance clean-tech deployment

Go deeper: Sweeping climate bill aims for zero carbon emissions by 2050 (Roll Call)

Go deeper

Ben Geman, author of Generate
Mar 2, 2021 - Energy & Environment

Sen. Joe Manchin to propose $8 billion in clean energy tax credits

Illustration: Sarah Grillo/Axios

Senior Democratic lawmakers in both chambers are unveiling climate and clean energy proposals this week.

Driving the news: Sen. Joe Manchin (W.Va), who chairs the energy committee, is proposing $8 billion in new tax credits to spur domestic manufacturing of climate-friendly technologies.

Ben Geman, author of Generate
Mar 2, 2021 - Energy & Environment

Global carbon emissions rebound to pre-COVID levels

Expand chart

Newly released data show that global CO2 emissions had returned to pre-pandemic levels by the end of last year and surpassed them in some major economies.

Why it matters: The International Energy Agency warned that clean energy efforts are falling short.

Oil industry's top lobbying group set to endorse carbon pricing

An oil pumpjack operates at dusk in Long Beach, California. Photo: Apu Gomes/AFP via Getty Images

The American Petroleum Institute is preparing to endorse, in principle, a price on carbon emissions, according to a draft statement first reported by the Wall Street Journal.

Why it matters: The endorsement of carbon pricing, which API said in its draft statement would "lead to the most economic paths to achieve the ambitions of the Paris Agreement,” would signal an evolving climate stance from the oil industry's top lobbying group.