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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

Updated 8 mins ago - Health

The coronavirus variants: What you need to know

Illustration: Aïda Amer/Axios

New variants of the coronavirus circulating globally appear to increase transmission and are being closely monitored by scientists.

Driving the news: The highly contagious variant B.1.1.7 originally detected in the U.K. could become the dominant strain in the U.S. by March if no measures are taken to control the spread of the virus, the Centers for Disease Control and Prevention said Friday.

10 mins ago - World

Abbas announces first Palestinian elections in 15 years

Abbas is 85 and in the 15th year of a 4-year term. Abbas Momani/AFP via Getty

Palestinian President Mahmoud Abbas published a decree on Friday announcing the dates for parliamentary and presidential elections in the Palestinian Authority.

Why it matters: This is the first time in 15 years that such a decree has been published. The last presidential elections took place in 2005, with Abbas winning, and the last parliamentary elections took place in 2006, with Hamas winning.

Updated 16 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — America has tuned out the coronavirus at the peak of its destruction — 1 in 3 people in L.A. County believed to have been infected with coronavirus.
  2. Politics: Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan— Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat — Joe Biden will seek nearly $2 trillion in COVID relief spending.
  3. Vaccine: Battling Black mistrust of the vaccines"Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode againFed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.