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Starbucks storefront. Photo: Avishek Das/SOPA Images/LightRocket via Getty Images

Starbucks hopes to cut carbon emissions from its operations and huge supply chain by 50% by 2030 as part of new environmental pledges unveiled Tuesday.

Why it matters: Starbucks is the latest multinational giant to set new targets as global emissions rise and multilateral efforts fail to even lay the groundwork for steep cuts.

The intrigue: The commitments, while lacking detail for now, hint that Starbucks hopes to fund so-called negative emissions methods and tech. That's a key part of commitments Microsoft unveiled last week.

What they're saying: “We will both store carbon and reduce carbon emissions. Offsets do not count towards a science-based target, and we do not plan to utilize offsets to meet our preliminary target of 50% reduction in our carbon footprint,” Rebecca Zimmer, the company's global environment director, tells Axios.

The big picture: CEO Kevin Johnson, in an open letter, says Starbucks' wider aspiration is eventually becoming "resource positive," defined as "storing more carbon than we emit, eliminating waste, and providing more clean freshwater than we use."

Starbucks laid out two other interim 2030 targets in addition to the CO2 pledge:

  1. 50% of the water used for its operations and coffee production will be "conserved or replenished."
  2. They pledge a 50% cut in waste that's sent to landfills from stores and manufacturing.

What's next: The plan envisions more plant-based food offerings; a shift from single-use to reusable packages; investing in "innovative and regenerative" farm and forest practices; and more. Starbucks plans to conduct market research and trials over the next year to add details.

Go deeper: Massive companies' green commitments can't save the planet

Go deeper

Dion Rabouin, author of Markets
23 mins ago - Economy & Business

How the tech stock selloff is hurting average Americans

Expand chart
Data: FactSet; Chart: Axios Visuals

Investors holding the ultra-popular Nasdaq 100 and S&P 500 index funds have been hard hit over the last two weeks as tech shares have been roiled by rising U.S. Treasury yields.

Why it matters: Even though the economy is growing and many U.S. stocks are performing well, most investors are seeing their wealth decline because major indexes no longer reflect the overall economy or even a broad swath of public companies — they reflect the performance of a few of the country's biggest companies.

48 mins ago - World

UN rights chief: At least 54 killed, 1,700 detained since Myanmar coup

A Feb. 7 protest in Yangon, Myanmar. Photo: Getty Images/Getty Images

Police and military officers in Myanmar have killed at least 54 people during anti-coup protests, while "arbitrarily" detaining over 1,700 people, United Nations Human Rights Commissioner Michelle Bachelet said Thursday.

Why it matters: Protesters have demonstrating across Myanmar for nearly a month, demanding the restoration of democracy after the country's military leaders overthrew its democratically elected government on Feb. 1.

2 hours ago - Health

The danger of a fourth wave

Expand chart
Data: The COVID Tracking Project, state health departments; Note: Anomalous Arkansas case data from Feb. 28 was not included in the calculated change; Map: Andrew Witherspoon/Axios

The U.S. may be on the verge of another surge in coronavirus cases, despite weeks of good news.

The big picture: Nationwide, progress against the virus has stalled. And some states are ditching their most important public safety measures even as their outbreaks are getting worse.