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 22 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week — U.S. reports over 80,000 new cases for second consecutive day.
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. World: Restrictions grow across Europe.
  6. Media: Fox News president and several hosts advised to quarantine.
Dave Lawler, author of World
48 mins ago - World

U.S.-brokered ceasefire collapses in Nagorno-Karabakh

Volunteer fighters in Stepanakert, the capital of Nagorno-Karabakh. Photo: Aris Messinis/AFP via Getty Images

A U.S.-brokered ceasefire between Armenia and Azerbaijan in the disputed territory of Nagorno-Karabakh crumbled within hours on Monday, leaving the month-old war rumbling on.

Why it matters: Nearly 5,000 people have been killed, according to Vladimir Putin’s rough estimate, including more than 100 civilians. Between 70,000 and 100,000 more are believed to have fled the fighting.

Ben Geman, author of Generate
3 hours ago - Energy & Environment

Japan's big new climate goal

Climate protest in Tokyo in November 2019. Photo: Carl Court/Getty Images

Japan's new prime minister said on Monday the nation will seek to become carbon neutral by 2050, a move that will require huge changes in its fossil fuel-heavy energy mix in order to succeed.

Why it matters: Japan is the world's fifth-largest source of carbon emissions. The new goal announced by Prime Minister Yoshihide Suga is stronger than the country's previous target of becoming carbon neutral as early as possible in the latter half of the century.