Pope Francis waves to the pilgrims gathered in St. Peter's Square. Photo: Franco Origlia/Getty Images

Top energy and investment executives attending a conference last weekend hosted by Pope Francis at the Vatican agreed a price on carbon emissions was essential in transitioning to cleaner sources of energy, according to multiple officials at the meeting.

Why it matters: This takeaway underscores how this particular policy is cementing itself as the preferred path among global oil companies in addressing climate change — even while it remains far out of reach in Washington, D.C.

Between the lines: Some big producers, particularly ExxonMobil Corp., have been increasingly vocal about their support for a carbon tax, but so far their rhetoric hasn’t been backed up by active lobbying on the issue in Congress, whose GOP leaders generally oppose any such policy. On the other side of the Atlantic, Europe already has a carbon-pricing system.

Meeting details:

  • Ernest Moniz, energy secretary under President Obama, attended the meeting and said that “one of the areas of focus was carbon pricing to create market incentives for the transition to a low-carbon system,” according to an interview with MIT.
  • Specific details about carbon pricing, such as oil companies’ support for it in Congress, were not discussed, according to multiple meeting attendees.
  • "It needs to not disadvantage the already disadvantaged, that view come out quite strongly from the Vatican side. It needs to be progressive," said one official who attended the conference.
  • Three industry officials in the meeting said that — despite some narratives emerging indicating the pope lectured companies on climate change — it was a genuine two-way dialogue with church officials moderating the discussion more than anything. "Everybody recognized that you need to find a meaningful way to put a charge on carbon," said one meeting attendee.
  • A press release issued afterwards by one arm of the Vatican said technologies including carbon capture and low-cost renewables were among the discussion points.
  • President Trump wasn't mentioned, according to two officials. "I would say it was a very apolitical conversation," said one attendee.

What's next: Notre Dame University, which helped organize this meeting, has indicated it will discuss with participants, which includes CEOs of big oil producers, renewable energy companies and investors, about another meeting, said one participant, though no specific details have emerged on that yet.

Go deeper

Trump tightens screws on ByteDance to sell Tiktok

Illustration: Aïda Amer/Axios

President Trump added more pressure Friday night on China-based TikTok parent ByteDance to exit the U.S., ordering it to divest all assets related to the U.S. operation of TikTok within 90 days.

Between the lines: The order means ByteDance must be wholly disentangled from TikTok in the U.S. by November. Trump had previously ordered TikTok banned if ByteDance hadn't struck a deal within 45 days. The new order likely means ByteDance has just another 45 days after that to fully close the deal, one White House source told Axios.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 21,056,850 — Total deaths: 762,293— Total recoveries: 13,100,902Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m ET: 5,306,215 — Total deaths: 168,334 — Total recoveries: 1,796,309 — Total tests: 65,676,624Map.
  3. Health: CDC: Survivors of COVID-19 have up to three months of immunity Fauci believes normalcy will return by "the end of 2021" with vaccine — The pandemic's toll on mental health — FDA releases first-ever list of medical supplies in shortage.
  4. States: California passes 600,000 confirmed coronavirus cases.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  7. Politics: Biden signals fall strategy with new ads.

Harris: "Women are going to be a priority" in Biden administration

Sen. Kamala Harris at an event in Wilmington, Del. Photo: Drew Angerer/Getty Images

In her first sit-down interview since being named Joe Biden's running mate, Sen. Kamala Harris talked about what she'll do to fight for women if elected VP, and how the Democrats are thinking about voter turnout strategies ahead of November.

What they're saying: "In a Biden-Harris administration women are going to be a priority, understanding that women have many priorities and all of them must be acknowledged," Harris told The 19th*'s Errin Haines-Whack.