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Illustration: Aïda Amer/Axios

Only 18% of pandemic economic recovery spending approved in 2020 among the world's 50 largest economies can be considered "green," per new analysis from the UN and the University of Oxford. It falls to 2.5% when you combine recovery and shorter term rescue packages that together exceed $14 trillion.

Why it matters: The UN and other multilateral bodies have called on nations to use COVID-19 economic responses to back areas like low-carbon power, electric vehicles, efficient buildings and more.

  • But the new tally is the latest sign it's not happening on anything near the scale backers had hoped.

The big picture: It finds that $341 billion of the announced recovery packages are "green."

  • "Despite positive steps towards a sustainable COVID-19 recovery from a few leading nations, the world has so far fallen short of matching aspirations to build back better," co-author Brian O’Callaghan says.
  • "But opportunities to spend wisely on recovery are not yet over," adds O’Callaghan, who is lead researcher of Oxford's Economic Recovery Project.

Of note: The report does not include certain European Commission commitments not yet designated to specific member states, which would push the green totals higher.

What we're watching: In the U.S., Biden plans to push for low-carbon energy and climate-resilient infrastructure funding in a major package later this year, but the shape of that effort remains uncertain.

Go deeper: The world isn't building back better after the pandemic (Bloomberg)

Go deeper

Updated 2 mins ago - Politics & Policy

Law enforcement confirms officer was killed in Metro station attack at Pentagon

Law enforcement officers patrolling the Pentagon's transit station on August 3. Photo: Olivier Douliery/AFP via Getty Images

Pentagon Force Protection Agency Chief Woodrow Kusse said an officer was attacked at a transit station outside the Pentagon on Tuesday morning, gunfire was exchanged between the suspect and law enforcement and multiple people were injured.

The latest: "PFPAOficial mourns the tragic loss of a Pentagon Officer killed during this morning's incident at the Pentagon," the Pentagon Force Protection Agency tweeted Tuesday evening. "Our thoughts and prayers are with the Officer's family.

1 hour ago - Health

Biden voices support for private sector vaccine requirements

Photo: Shawn Thew/EPA/Bloomberg via Getty Images

President Biden said Tuesday that he supports efforts by private businesses to require coronavirus vaccines.

Driving the news: Biden's comments come hours after New York City announced it would demand proof of vaccination for indoor activities, including trips to gyms and restaurants.

Biden calls on Cuomo to resign after sexual harassment findings

Cuomo with Biden and Sen. Chuck Schumer in September 2020. Photo: Chip Somodevilla/Getty Images

President Biden called on New York Gov. Andrew Cuomo (D) to resign on Tuesday after an independent investigation found that Cuomo sexually harassed multiple women, including employees in his office, in violation of state and federal law.

Why it matters: Unlike dozens of other prominent Democrats, Biden held off on calling for Cuomo's resignation in March when the allegations of sexual misconduct first emerged.