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A Mendeleev Prospect oil tanker. Photo: Alexander Ryumin/TASS via Getty Images

Goldman Sachs says it won't directly finance Arctic oil-and-gas exploration, new coal-fired power plants (unless they trap carbon), or new mines for coal used in electricity.

The big picture: Those are three big pieces of the banking giant's revised climate policies unveiled over the weekend.

  • The company, via a Financial Times op-ed, also said it's aiming for $750 billion in financing, investment and advisory work over the next 10 years focused on "climate transition and inclusive growth."

Why it matters: The fossil fuel-related policies expand on Goldman's prior stance in several ways, according to environmentalists who track the banking sector.

  • For instance, restrictions on new coal-fired plants previously did not apply to developing countries, which is where planned new coal plant construction is centered.

What they're saying: The Sierra Club and the Rainforest Action Network said the policy is the strongest among major U.S.-based banks

  • However, they said it lags behind some European banks and "remains far from alignment with what is needed to limit climate change to 1.5 degrees Celsius."
  • In analysis circulated to reporters, the groups pointed to various ways in which the policy still allows finance for oil and coal-related projects and companies.

Go deeper:

Go deeper

Using apps to prevent deadly police encounters

Illustration: Sarah Grillo/Axios

Mobile phone apps are evolving in ways that can stop rather than simply document deadly police encounters with people of color — including notifying family and lawyers about potential violations in real time.

Why it matters: As states and cities face pressure to reform excessive force policies, apps that monitor police are becoming more interactive, gathering evidence against rogue officers as well as posting social media videos to shame the agencies.

Dan Primack, author of Pro Rata
15 hours ago - Technology

TikTok gets more time (again)

Illustration: Aïda Amer/Axios

The White House is again giving TikTok's Chinese parent company more to satisfy national security concerns, rather than initiating legal action, a source familiar with the situation tells Axios.

The state of play: China's ByteDance had until Friday to resolve issues raised by the Committee on Foreign Investment in the U.S. (CFIUS), which is chaired by Treasury secretary Steve Mnuchin. This was the company's third deadline, with CFIUS having provided two earlier extensions.

Federal judge orders Trump administration to restore DACA

DACA recipients and their supporters rally outside the U.S. Supreme Court on June 18. Photo: Drew Angerer via Getty

A federal judge on Friday ordered the Trump administration to fully restore the Deferred Action for Childhood Arrivals program, giving undocumented immigrants who arrived in the U.S. as children a chance to petition for protection from deportation.

Why it matters: President Trump has sought to undo the Obama-era program since taking office. Friday’s ruling will require Department of Homeland Security officers to begin accepting new applications for DACA as soon as Monday.