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Photo: Keith Bedford/The Boston Globe via Getty Images

Companies including BP, Chevron and power giant Southern Company have formed a new coalition called the Energy Advance Center to work on carbon capture, storage and use.

Why it matters: Trapping CO2 from power plants and other industrial facilities is an important way to help eventually bring the steep emissions cuts needed to prevent the most dangerous levels of warming.

The two other companies listed in this newly public lobbying disclosure filing are:

  • Industrial systems giant Mitsubishi Heavy Industries America.
  • Denbury Resources, an oil company focuses on using CO2 for enhanced oil recovery from depleted reservoirs.
  • They're represented by the lobbying firm Hunton Andrews Kurth.

What they're saying: Very little right now. But Hunton Andrews Kurth partner Fred Eames described the new group this way in a statement to Axios:

"The Center is a voluntary association of energy companies, industrial energy users, and other energy-related entities formed to promote the energy industry’s interests in issues related to carbon capture and storage, to improve the greenhouse gas emissions profile of fossil fuels, and to enhance the economic opportunities from use of CO2 with benefits for the economy, energy security, and the environment."

The big picture: Deployment of carbon capture and storage tech has been slow to get off the ground. But a new U.S. law — part of the big February federal spending deal — expands tax incentives for direct sequestration or use of captured CO2 in enhanced oil recovery.

  • More broadly, International Energy Agency head Fatih Birol frequently says the amount of investment and activity worldwide around carbon capture is troublingly low.

One level deeper: Eames is former counsel to the House Energy and Commerce Committee and has previously worked with industry clients on carbon capture and storage through a group called the CCS Alliance.

  • That group has not reported any lobbying expenses in two years.

Go deeper

Trump says he plans to launch new social media network in 2022

Photo: Chris Delmas/AFP via Getty Images

Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and that it would go public via a SPAC.

Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.

Beauty giant Coty Cosmetics looking to sell its own branded products

Coty Cosmetics CEO Sue Nabi. Photo: Axios on HBO

Coty Cosmetics CEO Sue Nabi tells Axios the beauty giant will “probably” introduce Coty-branded products one day.

Why it matters: Coty produces some of the world’s most popular fragrances, skin care products and color cosmetics on behalf of other well-known brands, but has shied away from producing its own branded products.

2 hours ago - Sports

NFL to end race-based testing in concussion settlements

Photo: Brett Carlsen/Getty Images

The National Football League on Wednesday reached an agreement with former players to end the controversial practice of race-based adjustments in dementia testing, AP reports.

Why it matters: The deal, which must still be approved by a judge, comes amid a broader discussion of racial inequities in health care.

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