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Photo: Johannes Eisele/AFP/Getty Images

"Institutional investors with $26 trillion in assets under management called on Group of Seven leaders on Monday to phase out the use of coal in power generation to help limit climate change, despite strong opposition from Washington," per Reuters.

ICYMI: The big domestic development since our last edition was the White House ordering DOE on Friday to "prepare immediate steps" to prevent the closure of economically struggling coal-fired and nuclear power plants.

The context: The statement arrived after emergence of an internal memo revealing that DOE might attempt to mandate a two-year program under which grid managers must purchase power or power capacity from these facilities.

  • Why it matters: The White House statement is the strongest sign yet that the Trump administration is readying an aggressive intervention in power markets — one sure to draw heavy legal and political pushback.
  • Shade: "It is simply absurd that the Trump administration is contemplating using Cold War-era provisions to bail out unprofitable power plants in the name of security, particularly as its own Energy Department and FERC see little evidence of an emergency," writes Bloomberg columnist Liam Denning.
  • More: The NYT has a good rundown of the proposal and the reaction.

Go deeper

Scoop: Trump-backed Perdue says he wouldn’t have certified Georgia 2020 results

Perdue at a December 2020 campaign event in Columbus, Ga. Photo: Elijah Nouvelage/Getty Images

Georgia gubernatorial candidate David Perdue wouldn’t have signed the certification of the state’s 2020 election results if he had been governor at the time, the former Senate Republican told Axios.

  • “Not with the information that was available at the time and not with the information that has come out now. They had plenty of time to investigate this. And I wouldn’t have signed it until those things had been investigated and that’s all we were asking for," he said.

Why it matters: There has been no evidence widespread fraud took place in Georgia's elections last year and the November results were counted three times, once by hand.

Beijing Olympics: These countries have announced diplomatic boycotts

Photo: Zhang Qiang/VCG via Getty Images

Several countries, including Canada and Australia, have announced they will join the U.S. in a diplomatic boycott of the 2022 Beijing Winter Olympics to protest human rights abuses committed by China's government.

Driving the news: Leaders have faced pressure from human rights groups and others to boycott the Games, pointing to the ongoing genocide of Uyghurs and other Muslim minorities in China's Xinjiang region and other abuses.

Biden directs federal government to become carbon neutral by 2050

President Biden speaking to reporters outside of the White House on Dec. 8.

President Biden signed an executive order Wednesday that requires the federal government achieve multiple goals related to reducing its carbon emissions, including achieving net-zero emissions by 2050.

Why it matters: Meeting the objectives of the order would require a massive investment by the federal government to buy electric vehicles, upgrade buildings and change how it procures electricity.