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Frenzied customers grab clothes, shortly after H&M opened a new store in Los Angeles. Photo: Damian Dovarganes / AP

A Swedish power plant is burning H&M clothing as a way to move closer to becoming "a fossil-fuel free facility by 2020," according to Bloomberg.

Why it matters: Per Bloomberg, Sweden runs on "an almost entirely emission free-power system," and moving plants to burning only trash and biofuels will hopefully "edge out the last of its fossil fuel units."

  • Head of Communications for H&M in Sweden, Johanna Dahl, told Bloomberg: "H&M does not burn any clothes that are safe to use...However it is our legal obligation to make sure that clothes that contain mold or do not comply with our strict restriction on chemicals are destroyed."
  • The Swedish plant has reportedly burned 15 tons of H&M clothing in 2017 thus far.

Go deeper

Dion Rabouin, author of Markets
Updated 3 hours ago - Economy & Business

Our make-believe economy is here to stay

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.

Mike Allen, author of AM
4 hours ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.

Mike Allen, author of AM
4 hours ago - World

Scoop: Trump's spy chief plans dire China warning

Xi Jinping reviews troops during a military parade in Beijing last year. Photo: Thomas Peter/Reuters

Director of National Intelligence John Ratcliffe on Thursday will publicly warn that China's threat to the U.S. is a defining issue of our time, a senior administration official tells Axios.

Why it matters: It's exceedingly rare for the head of the U.S. intelligence community to make public accusations about a rival power.