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Protestors in London. Photo: Dominika Zarzycka/NurPhoto via Getty Images

BP, under pressure over climate change, is the latest oil giant to agree to review its membership in trade associations.

Why it matters: Activist investors are increasingly pushing fossil fuel producers to abandon lobbying groups that oppose policies like mandatory emissions curbs and carbon pricing.

  • Among oil majors, BP joins Equinor, which plans to release results of its review by Q1 2020. Shell has already completed its assessment.

Where it stands: Chairman Helge Lund announced the move at BP's annual meeting Tuesday. A spokesperson did not provide specific memberships that will be assessed, but said the review will be informed by this existing position statement on trade groups.

The big question: Will K Street lobbying powerhouses spring a leak, or alter their stances, if Big Oil companies threaten to bail over differences on climate?

  • This hasn't happened yet.
  • Shell reviewed a suite of memberships and said in early April that it's leaving one group: American Fuel & Petrochemical Manufacturers.
  • But, it's sticking with more powerful players including the U.S. Chamber of Commerce and American Petroleum Institute.

What's next: Activists investors will be watching. Climate Action 100+ said they will be looking to "ensure BP’s lobbying activity supports the Paris goals."

Go deeper: BP bosses get public grilling on climate from largest investors (Bloomberg)

Go deeper

Biden signs racial equity executive orders

Joe Biden prays at Grace Lutheran Church in Kenosha, Wisconsin, on September 3, 2020, in the aftermath of the police shooting of Jacob Blake. PHOTO: Jim Watson/AFP via Getty Images

President Joe Biden on Tuesday signed executive orders on housing and ending the Justice Department's use of private prisons as part of what the White House is calling his “racial equity agenda.”

The big picture: Biden needs the support of Congress to push through police reform or new voting rights legislation. The executive orders serve as his down payment to immediately address systemic racism while he focuses on the pandemic.

Senate confirms Antony Blinken as secretary of state

Antony Blinken. Photo: Alex Edelman/Pool/AFP via Getty Images

The Senate voted 78-22 on Tuesday to confirm Antony Blinken as secretary of state.

Why it matters: Blinken, a longtime adviser to President Biden, will lead the administration's diplomatic efforts to re-engage with the world after four years of former President Trump's "America first" policy.

2 hours ago - World

Former Google CEO and others call for U.S.-China tech "bifurcation"

Illustration: Aïda Amer/Axios

A new set of proposals by a group of influential D.C. insiders and tech industry practitioners calling for a degree of "bifurcation" in the U.S. and Chinese tech sectors is circulating in the Biden administration. Axios has obtained a copy.

Why it matters: The idea of "decoupling" certain sectors of the U.S. and Chinese economies felt radical three years ago, when Trump's trade war brought the term into common parlance. But now the strategy has growing bipartisan and even industry support.