Illustration: Sarah Grillo/Axios

The financial toll brought on by the coronavirus pandemic could hinder plans for countries' ambitious renewable energy goals, as jobs disappear amid strict nationwide lockdowns.

Driving the news: Milestones for low-carbon energy policies in China, India and the European Union, which were all expected to drive new projects this year, are scheduled to expire soon.

The big picture: The growth previously forecast for global solar and wind projects is expected to be "wiped out" this year and instead round out to about the same as it was in 2019, consultancy Rystad Energy said in March. Next year will be even worse, with a 10% cut in solar and wind ventures compared to 2020 as investments and construction shrink.

Where it stands: In the face of this projected wipeout, deadlines for renewable-energy plans are fast approaching, writes Heymi Bahar, a top International Energy Agency analyst.

Threat level: More than 106,000 U.S. workers in energy efficiency, renewable power, alternative fuels, electric cars and other related sectors lost jobs in March, a BW Research Partnership report published last week found.

The other side: Especially relative to oil and natural gas, wind and solar farms are relatively stable and low-risk investments — which "could give them a financial boost in coming months and years," the Wall Street Journal notes.

What we're watching: "Global recession is quickly becoming the base case assumption as the scope and scale of quarantines continue to expand, but the impacts on the trajectory of the energy transition remain nascent," consultancy Wood Mackenzie said in its weekly note on the pandemic's effect on clean energy.

Go deeper: The impact of coronavirus spans the energy universe

Go deeper

Updated 17 hours ago - Health

World coronavirus updates

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Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

A coalition of 156 countries agreed Monday to a "landmark" agreement aimed at the fair distribution of COVID-19 vaccines around the globe, the World Health Organization announced Monday.

The big picture: 64 higher-income countries, including European Union members, are among the signatories to the deal, known as "COVAX." The U.S. is not participating in the scheme.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11:45 a.m. ET: 31,374,796 — Total deaths: 965,742— Total recoveries: 21,531,728Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 6,860,484 — Total deaths: 200,005 — Total recoveries: 2,615,9474 — Total tests: 95,841,281Map.
  3. Health: The U.S. reaches 200,000 coronavirus deaths. The CDC's crumbling reputation — America turns against coronavirus vaccine.
  4. Politics: Elected officials are failing us on much-needed stimulus.
  5. Business: Two-thirds of business leaders think pandemic will lead to permanent changes — Wall Street fears stimulus is doomed.
  6. Sports: NFL fines maskless coaches.
Aug 1, 2020 - World

Mexico reaches third-most coronavirus deaths worldwide

A coronavirus testing site in Mexico City, Mexico. Photo: Gerardo Vieyra/NurPhoto via Getty Images

Mexico on Saturday surpassed the United Kingdom to become the nation with the third-most coronavirus deaths, per Johns Hopkins University.

By the numbers: The U.S. and Brazil lead COVID-19-related death counts, with over 153,600 and 92,400, respectively as of Saturday. But Mexico's 46,688 deaths inched past the U.K.'s 46,278, with Mexican officials reporting 688 new deaths on Friday alone.

  • Mexico is only sixth in total number of coronavirus cases. Countries with higher case counts include U.S., Brazil, India, Russia and South Africa.

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