Occidental Petroleum, one of the biggest producers in Texas’ Permian basin, quietly issued its first-ever climate change report earlier this month.

Why it matters: Occidental’s report is the latest from a string of fossil-fuel companies responding to resolutions pushed last year by investors requiring more disclosure about what companies are doing to prepare for a carbon-constrained future. Occidental stood out last year because its measure was both the first to pass and saw record votes in support.

Gritty details:

  • Much of the report is devoted to explaining how its decades-long practice of using carbon to extract oil will help it cut carbon emissions. Occidental mostly uses naturally occurring carbon, but the company anticipates using more human-captured carbon with the passage of tax credits incentivizing carbon-capture technologies.
  • It also finds that its oil resources won’t be impacted in a world that sees carbon emissions reduced to a level consistent with keeping Earth’s temperature from rising two degrees Celsius, a common benchmark in these shareholder resolutions that also is driving the 2015 Paris climate deal.

What we’re hearing:

“Importantly, the company has coupled the release of this report to a number of forward-looking commitments, including regularly re-evaluating its climate strategy with board oversight, using more rigorous scenarios, and embedding a carbon cost in the capital allocation process.”
— Andrew Logan, director of oil and gas, Ceres

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 19,193,661 — Total deaths: 716,735 — Total recoveries — 11,611,029Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 4,918,927 — Total deaths: 160,737 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: White House recommends Trump issue executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

Trump: "We are going a different way" on coronavirus aid

President Trump. Photo: Jim Watsonn/AFP via Getty Images

President Trump tweeted on Friday that his administration is "going a different way" with coronavirus aid after negotiations with congressional Democrats stalled again, suggesting he will use an executive order to address stimulus spending.

What he's saying: "Pelosi and Schumer only interested in Bailout Money for poorly run Democrat cities and states. Nothing to do with China Virus! Want one trillion dollars. No interest. We are going a different way!" Trump tweeted.

Trump's swift, sweeping China offensive

Illustration: Aïda Amer/Axios

President Trump's rhetoric on China has tended to run hotter than his actions — until now.

Why it matters: Even at the height of Trump's trade war, his administration never hit China as hard, as fast, and on as many fronts as it is right now.