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Photo: Justin Sullivan/Getty Images

Democratic White House hopeful Mike Bloomberg would aim to cut economy-wide U.S. greenhouse gas emissions in half by 2030 and implement policies that would make 80% of power generation zero-carbon by 2028.

Why it matters: Those are two key targets in broadly worded plans unveiled Friday that mark the first detailed domestic climate proposals from the billionaire's campaign, and follow his years of advocacy on the topic.

  • Earlier this week, Bloomberg — whose late-starting campaign is polling far behind the frontrunners — laid out international policy goals alongside his visit to UN climate talks in Madrid.
  • The visit to the UN talks and this new domestic plan underscore how climate policy will be among the pillars of his campaign.

The big picture: Overall, Bloomberg is eyeing a zero-carbon economy by 2050, which is consistent with several rivals' goals. The first tranche of proposals focuses on electricity.

How it works: Pillars of the broadly worded policy include...

  • Shutting down coal-fired power plants by 2030 and issuing carbon emissions regulations strict enough to thwart construction of new natural gas-fired plants.
  • The carbon emissions rules envisioned would also lead to "orderly replacement" of existing gas plants with zero-carbon sources.
  • A suite of incentives, financing and permitting steps to speed up deployment of zero-carbon power sources.
  • They include expansion of existing incentives for wind and solar; new incentives for storage and hydrogen; streamlining interstate transmission siting; and investment in grid modernization.
  • Increasing research and development spending on clean generation and grid tech to at least $25 billion annually.

One level deeper: Other pledges in the plan include ending fossil fuel leasing on federal lands and "all subsidies" for fossil fuels, such as tax incentives for oil-and-gas development.

  • The plan also has environmental justice components, vowing to make the topic "central to decision-making at all federal agencies."
  • The proposal does not include carbon pricing, but an aide said Bloomberg supports it.

What's next: The campaign said proposals in coming weeks will address the "jobs transition" for coal-sector workers and a "detailed innovation agenda."

What we don't know (yet): The total estimate costs of the proposals beyond the R&D proposal. The outline, unlike some other candidates' plans, doesn't provide estimated overall costs.

  • Also unclear is whether the plan could enable him to make headway among younger, progressive advocates who have rallied around the more progressive campaigns of Sens. Bernie Sanders and Elizabeth Warren.
  • Despite Bloomberg's climate emphasis, prior work as the UN's climate envoy and years of financing of climate advocacy, he's out of step with the Democratic zeitgeist in other ways.

Go deeper:

Go deeper

Updated 1 hour ago - Energy & Environment

Thousands without power as "hazardous" winter storm lashes East Coast

Satellite imagery of the Northeastern U.S. taken by NOAA on Jan. 17. Photo: NOAA

A major winter storm lashed much of the East Coast Sunday and Monday, causing widespread power outages and disrupting travel over the holiday weekend.

The latest: Authorities in North Carolina confirmed that two people died in a car crash and that they responded 600 vehicle accidents during the storm on Sunday, per the Washington Post.

4 hours ago - Health

CDC director says COVID-19 messaging should have been clearer

Rochelle Walensky. Photo: Stefani Reynolds-Pool/Getty Images

Rochelle Walensky, director of the Centers for Disease Control and Prevention, said in an interview with the Wall Street Journal that the messaging around the COVID-19 pandemic and changing guidance should have been clearer.

State of play: Walensky is being coached by media experts and is planning to have more press briefings by herself in order to ensure that CDC is seen as an independent, scientific entity, rather than as a political one, the Journal reports.

4 hours ago - World

UAE asks U.S. to reinstate Houthi terrorist designation after attack

Secretary of State Tony Blinken (left) listens to United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed al-Nahyan during a joint news conference at the State Department iin October. Photo: Andrew Harnik/Pool/AFP via Getty Images

Emirati Foreign Minister Abdullah Bin Zayed asked Secretary of State Tony Blinken in a phone call Monday to re-designate the Houthi rebels in Yemen as a terrorist organization, a senior Emirati official told Axios.

Why it matters: Less than a month after he assumed office, President Biden rolled back the Trump administration’s decision to make the designation. He said it hampered humanitarian assistance to the Yemeni people. Since then, the Houthis have escalated their attacks against Saudi Arabia and other countries in the region — including an attack Monday in Abu Dhabi.