Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. 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 Axios Closer 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!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

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 Axios Sports. 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!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

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 Axios Des Moines

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 Axios Tampa Bay

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!

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!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Alexander Demianchuk/TASS via Getty Images

BP is supporting a proposal by activist investors that calls on the multinational giant to disclose how its spending and strategies sync up with the Paris climate agreement. In a related move, BP said progress on greenhouse gas cuts will factor into the pay of 36,000 employees, including executive directors.

Why it matters: Friday's move is the latest sign of how some of the world's biggest fossil fuel producers are responding to pressure from advocates — including some large investors — on global warming.

  • It comes 2 months after Royal Dutch Shell, after consultation with the same investor network called Climate Action 100+, agreed to set short-term carbon emissions goals for its products.

Where it stands: BP supports a resolution from Climate Action 100+ to be adopted at BP's annual meeting later this year.

  • Provisions include a call to show how billions of dollars of capital expenditures on oil-and-gas exploration and development, and investments in other technologies, are consistent with the Paris agreement.
  • The resolution recognizes BP's prior moves on climate, including "best in class" management of methane, but says more is needed.
  • "Based on current disclosures, it is not possible to evaluate the extent to which the Company’s investments in fossil fuel reserves or resources are consistent with the Paris Goals," it states.

Who they are: The group says its 310 members collectively manage $32 trillion in assets. Members include Hermes EOS, Allianz Global Investors, Calpers, the Church of England Pensions Board, and HSBC Global Asset Management.

What they're saying: "This additional reporting will give investors better clarity about how BP can continue to deliver value through the energy transition in a way consistent with the Paris goals," BP chairman Helge Lund said in a statement.

When it comes to compensation, BP is linking annual bonuses with progress toward a 2018 pledge to cut emissions from its own operations by 3.5 million tons by 2025.

Go deeper:

Go deeper

Updated 3 hours ago - Health

DeSantis issues order barring Florida schools from mandating masks

Photo: Michael Reaves via Getty Images

Florida Gov. Ron DeSantis (R) on Friday issued an executive order that bars local school districts from requiring students to wear masks when they return to the classroom next month.

Why it matters: The spread of the Delta variant has led to a spike in new infections across the United States, triggering another round of debate about COVID guidelines in schools.

Updated 3 hours ago - Economy & Business

More corporations are requiring workers to get vaccinated

Graphic: Axios Visuals

Life for the unvaccinated could get more difficult as bosses increasingly move to make COVID-19 vaccines mandatory.

The big picture: The federal Government in May said that it is legal for companies to require employees to get vaccinated for coronavirus.

Updated 4 hours ago - Politics & Policy

DOJ sues Texas over restrictions on undocumented migrant travel

Photo: Samuel Corum-Pool via Getty Images

The Justice Department sued Texas on Friday over Gov. Greg Abbott's (R) executive order restricting transportation of undocumented migrants.

Driving the news: The DOJ is asking a federal judge to block the order immediately. It's the latest clash between Texas and President Biden's Justice Department.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!