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Expand chart
Data: OECD; Chart: Jared Whalen/Axios

Two new reports show the gap between multilateral climate goals and what's actually happening.

Driving the news: OECD data shows developed economies are falling short of a 2009 pledge to mobilize $100 billion annually by 2020 to help developing nations cut emissions and adapt to warming.

  • Some developing countries view the fulfillment of the pledge as a prerequisite to offering new, more stringent emissions targets.

What they're saying: "The limited progress in overall climate finance volumes between 2018 and 2019 is disappointing, particularly ahead of COP26," Mathias Cormann, secretary-general of OECD, said in a statement Friday.

  • While complete 2020 data isn't yet available, "it is clear that climate finance will remain well short of its target," he said.

Threat level: A separate U.N. report Friday warns that even if current national emissions pledges are implemented, global emissions are slated to rise by 16% by 2030 compared to 2010 levels.

Go deeper: UN warns of "catastrophic" climate change failure without more emissions cuts

Go deeper

Ben Geman, author of Generate
Oct 16, 2021 - Energy & Environment

Key clean power provision likely won't survive in Dems' spending bill

A construction worker walks along a dirt road at the Avangrid Renewables La Joya wind farm in Encino, New Mexico, on Aug. 5, 2020. Photo: Cate Dingley/Bloomberg via Getty Images

A pillar of Democrats' plans to speed deployment of zero-carbon electricity is likely to be cut from major spending and tax legislation they are struggling to move on a party-line vote, per multiple reports and a Capitol Hill aide.

Driving the news: The New York Times, citing anonymous congressional aides and lobbyists, reports that West Virginia Sen. Joe Manchin (D) has told the White House he "strongly opposes" the Clean Electricity Performance Program.

Mike Allen, author of AM
2 hours ago - Politics & Policy

GOP senator calls for senility test for aging leaders

Photo: "Axios on HBO"

Sen. Bill Cassidy (R-La.), a physician, told me during an "Axios on HBO" interview that he favors cognition tests for aging leaders of all three branches of government.

Why it matters: Wisdom comes with age. But science also shows that we lose something. And much of the world is now run by old people — including President Biden, 78 ... Speaker Pelosi, 81 ...  Senate Majority Leader Chuck Schumer, 70 ... and Senate Minority Leader Mitch McConnell, 79.

Ina Fried, author of Login
2 hours ago - Technology

Intel CEO blames predecessors for manufacturing woes

Axios on HBO

When it comes to Intel's recent manufacturing problems, Intel CEO Pat Gelsinger places the blame squarely on his predecessors — many of whom he notes were not engineers deeply steeped in chip technology, as he is.

Why it matters: Gelsinger has announced a broad plan to reinvigorate Intel by doubling down on manufacturing. However, the strategy depends on the venerable semiconductor giant recovering from recent stumbles.