Illustration: Aïda Amer/Axios

Chevron's pledged this week to cut emissions intensity — that is, emissions per unit of energy produced — from its oil and gas production.

Why it matters: The oil giant hasn't been as aggressive on climate change as European-based oil majors like Shell.

Yes, but: The company has stepped up its activities in recent years with moves including ...

  • Investments through its venture arm in companies like the EV charging player ChargePoint, and the CO2-removal firm Carbon Engineering.
  • Last year joining the Oil and Gas Climate Initiative, a coalition of oil majors working on the topic.

However, as this Financial Times piece points out, Chevron's investment in low-carbon energy is smaller than some rivals.

What they're saying: Advocates pushing the oil majors to do more were lukewarm on Chevron's announcement when I touched base with them yesterday.

  • “It’s a relatively small intensity goal. ... It certainly does not feel like something that has a whole lot of teeth or ambition," said Bruno Sarda of CDP North America (CDP was formerly the Carbon Disclosure Project).
  • He notes that intensity targets allow overall emissions to keep rising, even if production is more efficient.

Indeed, that distinction between intensity and absolute emissions is evident in Chevron's announcement.

  • “Global demand for energy continues to grow, and we are committed to delivering more energy with less environmental impact,” CEO Michael Wirth said.

By the numbers: Chevron, the second-largest U.S. oil company behind Exxon, said that by 2023, it would cut emissions intensity of its oil production by 5-10% and intensity of natural gas production by 2-5% by then.

What's next: More pressure on Chevron from activist investors. “The pressure is going to continue until they make a commitment to absolute emissions reductions that align with the science,” Sarda said.

  • One area to watch: Chevron, and several other majors, have not followed a small handful of European players including Shell and Total S.A. in setting goals for reducing emissions from the use of their fuels in the economy.
  • "Investor concern is not focused on operational emissions — which is what this [new Chevron] goal addresses — but on the carbon embedded in the industry's core products," Andrew Logan of the sustainable investment advocacy group Ceres tells me.

Go deeper: Sizing up Big Oil's clean tech moves

Go deeper

Coronavirus squeezes the "sandwich generation"

Illustration: Eniola Odetunde/Axios

As the coronavirus poses risks and concerns for the youngest and oldest Americans, the generations in the middle are buckling under the increasing strain of having to take care of both.

Why it matters: People that make up the so-called sandwich generations are typically in their 30s, 40s and 50s, and in their prime working years. The increasing family and financial pressures on these workers means complications for employers, too.

Why Scranton matters again in 2020

Biden and Clinton visit Biden's childhood home in Scranton in 2016. Photo: Melina Mara/The Washington Post via Getty Images

The hometown of Joe Biden and "The Office" is polishing its perennial status as a guidepost for the nation's political mood.

Driving the news: Biden returns to Scranton, Pa., today with a campaign stop just outside the city limits at a metalworking plant, where he'll deliver remarks on a plan to create jobs and "help America build back better."

Updated 16 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 5 a.m. ET: 12,051,561 — Total deaths: 549,735 — Total recoveries — 6,598,230Map.
  2. U.S.: Total confirmed cases as of 5 a.m. ET: 3,055,144 — Total deaths: 132,309 — Total recoveries: 953,420 — Total tested: 37,532,612Map.
  3. 2020: Houston mayor cancels Texas Republican convention.
  4. Public health: Deaths are rising in hotspots — Déjà vu sets in as testing issues rise and PPE dwindles.
  5. Travel: United warns employees it may furlough 45% of U.S. workforce How the pandemic changed mobility habits, by state.
  6. Education: New York City schools will not fully reopen in fallHarvard and MIT sue Trump administration over rule barring foreign students from online classes.