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

Planned IPOs by Uber and Lyft will likely lead to pressure from shareholder activists who want the ride-hailing giants to act more aggressively on stemming carbon emissions.

Why it matters: The IPOs come as some analysts fear that the growth of ride-hailing is siphoning riders from more climate-friendly mass-transit options and adding to congestion.

Once the companies are public, advocates will have new chances and tools — such as shareholder resolutions — to push for disclosures and steps like stronger initiatives around electric vehicles and shared rides.

What they're saying: Sue Reid of the sustainable investor advocacy network Ceres tells Axios...

"These companies either could be part of a broad set of climate solutions or they could significantly exacerbate the cause of climate change."
"They have some really important decisions in terms of their business plans to be made."
"Savvy investors should be asking some tough questions of these companies to ensure they are calibrating their business plans to be on the right side of the climate equation."

The intrigue: Ride-hailing, along with the rise of autonomous tech, is something of a wildcard for the future of transport-related carbon emissions.

  • There's the potential to increase miles traveled, but experts say that a combination of sound planning and practices plus electrification can provide climate benefits too.

Yes, but: Lyft and Uber have several existing climate-focused and sustainability initiatives. For instance...

  • Last September, Uber announced a new $10 million "fund for sustainable mobility" and is working with partners in a number of cities on ways to bolster EV adoption among drivers.
  • Lyft says it's purchasing enough carbon offsets to be a "carbon neutral" company, buying enough renewable power to cover its operations, and introducing a "green mode" to let passengers request EVs and hybrids.
  • "Lyft was founded on the belief that technology will enable us to dramatically reduce carbon emissions from the transportation system," the company said in papers filed last week with the Securities and Exchange Commission.

Between the lines: Reid tells Axios that investors will be looking for the companies to "build on" those programs.

Where it stands: Ceres is not the only group eyeing the IPOs and both company's future.

  • Danielle Fugere, president of the shareholder advocacy group As You Sow, predicts that shareholders will look at them from a climate standpoint and weigh the steps they're taking to lower their impact.
  • "These issues are the subject of current debate, so shareholders and analysts will likely be asking for appropriate disclosures," she tells Axios.

What's next: Uber is expected to file papers with securities regulators soon, and Lyft submitted its papers last week.

  • Reid sees Lyft's upcoming "roadshow" for investors as a chance for prospective shareholders to engage with the company.

The big picture: Climate-focused investors have in recent years notched several successes in pushing some very big companies into new steps on corporate disclosure and emissions targets.

  • Most recently, the umbrella group Climate Action 100+ has won concessions from Shell, BP and the mining giant Glencore.

Go deeper:

Go deeper

Updated 1 hour ago - Politics & Policy

Senate pulls all-nighter on amendments to COVID relief package

Photo: Alex Wong/Getty Images

Democratic leaders struck an agreement with Sen. Joe Manchin (D-W.V.) on emergency unemployment insurance late Friday, clearing the way for Senate action on President Biden's $1.9 trillion stimulus package to resume after an hours-long delay.

The state of play: The Senate continued to work through votes on a marathon of amendments overnight into Saturday morning.

The elusive political power of Mexican Americans

Data: Pew Research Center, U.S. Census Bureau; Chart: Michelle McGhee/Axios

Mexican Americans make up the nation's largest Latino group, yet they remain politically outshined by more recently arrived Cuban Americans.

Why it matters: The disparities in political power between Mexican Americans and Cuban Americans reflect the racial, historical, geographical and economic differences within Latino cultures in the U.S.