climate change effects

Arctic melt goes into overdrive

Adapted from Rick Thoman's analysis using data from the National Snow & Ice Data Center; Chart: Chris Canipe/Axios
Expert Voices

2020 Democrats pushing to end public financing of fossil fuels

Illustration of rolled up money blocking a smoke stack
Illustration: Rebecca Zisser/Axios

The climate plans released this week by Democratic presidential candidates Joe BidenJay Inslee and Elizabeth Warren each include provisions to end U.S. government support for new fossil fuel investment overseas.

Why it matters: Many new coal plants — up to 91% in Asia, for example — receive public development support from state-owned enterprises, foreign governments and export credit agencies, or multilateral development banks (MDBs). Reduced access to such financing could mean fewer new plants burning coal, the most carbon-intensive energy source.