Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

The Green New Deal resolution came out this week, featuring a list of ills afflicting America and the world, as well as proposed solutions.

The big picture: To tackle the problems of declining life expectancy, increased economic inequality and stagnant middle-class incomes — not to mention saving the planet — the bill attempts to "create millions of good, high-wage jobs" and "provide unprecedented levels of prosperity and economic security for all people of the United States."

  • The bill features a long list of investments in energy, water and transportation infrastructure, structured "in a way that ensures that the public receives appropriate ownership stakes and returns on investment." This is designed to "build wealth and community ownership."

An accompanying FAQ explains:

The Federal Reserve can extend credit to power these projects and investments and new public banks can be created to extend credit. There is also space for the government to take an equity stake in projects to get a return on investment. At the end of the day, this is an investment in our economy that should grow our wealth as a nation, so the question isn’t how will we pay for it, but what will we do with our new shared prosperity.

Fiscally, the idea is to use the existing tools of finance — banks, credit, equity — to turbocharge a level of investment that the market could never muster if left to its own devices. "The level of investment required is massive," says the FAQ. "Even if every billionaire and company came together and were willing to pour all the resources at their disposal into this investment, the aggregate value of the investments they could make would not be sufficient."

This idea is not new, although it is of unprecedented size. The International Financing Facility for Immunization was launched in 2006 and raised $5.7 billion for Gavi, the global vaccine alliance. That money, in turn, saw an impressive return on investment, averting more than 4 million deaths. Those living individuals will contribute hundreds of billions of dollars to the global economy over the course of their lifetimes.

  • A similar International Finance Facility for Education could launch as soon as this year.
  • In the private sector, issuance of green bonds has been growing at an astonishing pace. According to the Climate Bonds Initiative, global green bond issuance rose from $13 billion in 2013 to more than $167 billion in 2018.
  • A record number of "socially conscious" mutual funds launched last year. Together, they now manage some $1.2 trillion in assets.
  • Even Prince Charles is launching a $100 million social-bond fund designed to empower women in South Asia.

The bottom line: Anthropogenic global warming is a function of industrialization and, ultimately, capitalism. The only force powerful enough to change the planet's climate is also the only force powerful enough to stop us from destroying it entirely.

Go deeper

DOJ pressed to enforce Al Jazeera foreign agent ruling

Illustration: Aïda Amer/Axios

The Justice Department is being pressed to enforce its own demand that the U.S. arm of Qatari broadcaster Al Jazeera register as a foreign agent.

Why it matters: The launch of Al Jazeera's new right-of-center U.S. media venture, Rightly, has refocused attention on the media company's alleged links to Doha, and DOJ's efforts to crack down on media outlets viewed as foreign interest mouthpieces.

Poll: Immigration is America's most-polarizing issue

Data: The American Aspirations Index/Populace; Chart: Will Chase/Axios

Immigration was found to be the most polarizing issue in America based on new polling from Populace.

Why it matters: Americans have surprisingly similar priorities for the U.S., but immigration stands out as one of the few issues with clear partisan differences. It underscores the challenge for advocates and lawmakers hoping to pass immigration reform in the coming weeks amid narrow margins in Congress.

28 mins ago - Politics & Policy

Lawmakers hide behind AG's investigation as Cuomo lingers

A billboard outside Albany, N.Y. Photo: Matthew Cavanaugh/Getty Images

New York Gov. Andrew Cuomo is politically wounded but not yet dead, several state lawmakers tell Axios.

The state of play: Most are holding their fire and punting to state Attorney General Letitia James' investigation into sexual harassment allegations. They expect the inquiry to be credible and thorough — and buy Cuomo badly needed breathing room.