Carbon emissions

How Michael Bloomberg would decarbonize transportation

Michael Bloomberg at a podium.
Photo: Scott Heins/Getty Images

Michael Bloomberg's presidential campaign unveiled plans this morning to cut carbon from transportation, the nation's biggest source of greenhouse gas emissions.

The big picture: It's the latest of several climate and energy plans from Bloomberg, including proposals this week around wildfires, climate resilience, and emissions from buildings.

BlackRock won't save the planet

illustration of a greek statue rolling the earth up the hill
Illustration: Sarah Grillo/Axios

The planet faces a collective action problem of existential proportions. No one country or company can prevent catastrophic global warming; all of them need to work in conjunction with one another.

Why it matters: That kind of cooperation flies in the face of the standard capitalist mode, which is competition. If shareholders were to unite and force companies to cooperate on carbon reduction, that could prevent the death and displacement of millions of people.