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Michael Bloomberg on January 29, 2019 in Nashua, New Hampshire. Photo: Scott Eisen/Getty Images

Billionaire and former New York mayor Michael Bloomberg is putting $500 million into his new "Beyond Carbon" campaign, which aims to wean the U.S. off coal and halt construction of new natural gas-fired power plants.

The big picture: The push to help create a "100% clean energy economy" will devote resources to state and local efforts, Bloomberg said via his philanthropy.

  • A major goal of the campaign, which builds on his "Beyond Coal" work with the Sierra Club, is closing all U.S. coal plants by 2030.

But, but, but: As I noted when Bloomberg teased the new campaign in March, battling gas — which has gained ground in power markets at coal's expense —could be even tougher.

Where it stands: The campaign will also focus on low-carbon transit, EV deployment, climate-friendly manufacturing and emissions from buildings, the announcement states.

Go deeper: Why the U.S. coal industry is choking

Go deeper

2 hours ago - Politics & Policy

Rahm Emanuel floated for Transportation secretary

Rahm Emanuel. Photo: Joshua Lott for The Washington Post via Getty Images

President-elect Biden is strongly considering Rahm Emanuel to run the Department of Transportation, weighing the former Chicago mayor’s experience on infrastructure spending against concerns from progressives over his policing record.

Why it matters: The DOT could effectively become the new Commerce Department, as infrastructure spending, smart cities construction and the rollout of drone-delivery programs take on increasing economic weight.

2 hours ago - Politics & Policy

Biden turns to experienced hands for White House economic team

Illustration: Sarah Grillo/Axios

Joe Biden plans to announce Cecilia Rouse and Brian Deese as part of his economic team and Neera Tanden to head the Office of Management and Budget, sources tell Axios.

Why it matters: These are experienced hands. Unveiling a diverse group of advisers also may draw attention away from a selection of Deese to run the National Economic Council. Some progressives have criticized his work at BlackRock, the world's largest asset management firm.

Biden taps former Obama communications director for press secretary

Photo: Mark Makela/Getty Images

Jen Psaki, who previously served as Obama's communications director, will serve as President-elect Joe Biden's press secretary, the transition team announced Sunday.

The big picture: All of the top aides in Biden's communication staff will be women, per the Washington Post, which first reported Psaki's appointment.