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Photo: Artur Widak/NurPhoto via Getty Images

Ford became the latest corporate titan to set an ambitious long-term climate goal, vowing Wednesday to "achieve carbon neutrality" by 2050.

Why it matters: It's part of a wider move by some of the world's largest corporations to create aggressive climate targets.

  • The pledge includes a vow to create interim, "science-based" goals, including goals for emissions from use of its vehicles, not just its own operations.
  • That matters because, as The Verge reports, "Three quarters of the planet-heating CO2 emissions Ford is responsible for come from consumers driving its cars."

Yes, but: Lots of these plans rely on forces outside of companies' direct control, and Ford is no different.

What they're saying: Axios had an email exchange with Ford spokesperson John Cangany about the role of policy in meeting the climate goals ...

  • "Government policies are one set of factors that could impact our ability to reach carbon neutrality, and when," he said.
  • "For example, given their progressive policies, we expect the EU, California and other states following California’s lead to be carbon neutral before other parts of the world, and the interim targets we are working on will reflect these differences."
  • He also cited other factors, like consumer acceptance of EVs and energy price changes.

What's next: "We will continue to monitor and advocate for enablers that support our carbon neutrality goal, including carbon pricing systems," Cangany said.

Go deeper: Ford and Rivian scrap joint electric vehicle plan amid coronavirus crisis

Go deeper

Ben Geman, author of Generate
Sep 30, 2020 - Energy & Environment

Energy industry veterans form SPAC to take climate startups public

Illustration: Rebecca Zisser/Axios

A group of energy industry veterans announced Tuesday that they are launching a special purpose acquisition company (SPAC) aimed specifically at taking climate tech startups public.

Why it matters: They're self-branding as "the world’s first climate-focused" SPAC to launch.

Ben Geman, author of Generate
Sep 30, 2020 - Energy & Environment

Total joins the peak-demand-is-near club

Illustration: Aïda Amer/Axios

The hottest 2020 trend is moving up your projections of the global oil demand peak.

Driving the news: Oil major Total, in a new analysis, sees demand growth ending in a decade and then declining in their "momentum" scenario.

Mike Allen, author of AM
1 hour ago - Economy & Business

America on borrowed time

Illustration: Aïda Amer/Axios

Economic recovery will not be linear as the world continues to grapple with the uncertainty of the pandemic.

Why it matters: Despite being propped up by an extraordinary amount of fiscal stimulus and support from central banks, the state of the global economy remains fragile.