Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Responding to shareholder pressure, Duke Energy is releasing today a climate-change report that sketches a drastically changed electricity mix in a carbon-constrained future.

Why it matters: As one of America’s largest utilities, its speculation on this front is a bellwether for how the country’s electricity mix may change in the decades ahead. Duke provides electricity to more than seven million customers in the Carolinas, the Midwest and Florida.

Gritty details: It outlines a 2050 scenario where the world has taken steps to cut greenhouse gas emissions to a level consistent with keeping global temperatures from rising two degrees Celsius. That’s the big ambition of the 2015 Paris climate deal, but the current commitments aren’t close to reaching that.

Duke’s 2017 → 2050 generation mix:

  • Coal: 34% → zero.
  • Renewables (wind, hydropower and solar): 1% → 23%.
  • Natural gas: stays at about one-third.
  • Nuclear: stays at about one-third. This relies on an assumption that federal regulators grant Duke additional operating licenses to allow their existing reactors to run 80 years. That’s never happened before, though several companies are seeking such approvals.
  • The report creates a new, vague category called “new load following, zero emitting” technologies, which accounts for 13% of its mix by 2050. This is a catch-all for low-carbon resources not widely available today, like carbon capture technology and advanced nuclear power.

One more thing: The report pushes back against a growing number of activists and companies calling for 100% renewable energy. Duke cites the lack of storage technology and the intermittency of solar and wind as reasons they can’t reach that level. For example:

“On our system, we’re seeing more peaking and high demand days in our winter months when solar output is very low and there is not currently technology to allow us to move solar output we may have on our sunny June day to January.”
— Cari Boyce, Duke's vice president of policy, sustainability and stakeholder strategy

Go deeper

3 hours ago - Health

Biden administration to lift travel ban for fully vaccinated international travelers

Photo: Win McNamee/Getty Images

White House COVID-19 response coordinator Jeff Zients announced on Monday that the Biden administration will allow fully vaccinated travelers from around the world to enter the U.S. beginning in November.

Why it matters: The announcement comes as President Biden seeks commitments from countries to donate vaccines to the global COVAX initiative. He is expected to host a COVID summit on the sidelines of the UN General Assembly this week, and many of the countries attending have expressed frustration with the travel ban.

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

Gen Z breaks into VC

Illustration: Aïda Amer/Axios

When Meagan Loyst joined VC firm Lerer Hippeau, less than two years out of Boston College, she was still living with her parents. She had virtually no online brand presence, and the pandemic made it impossible to build a professional network via in-person meetings.

Why it matters: Loyst wasn't alone. Venture firms have accelerated hiring in line with record deal activity, often seeking younger investors who can spot trends that fly below the radar (or intrinsic understanding) of older partners.

White House aims to protect workers from extreme heat

Two pear pickers in Hood River, Ore. on Aug. 13. Photo: Michael Hanson/AFP via Getty Images

The White House announced a slew of actions Monday, including the start of a rule-making process at the Occupational Safety and Health Administration (OSHA), to protect American workers from extreme heat.

Driving the news: The U.S. just had its hottest summer on record, with triple-digit-temperatures killing hundreds in the Pacific Northwest and exposing outdoor workers to dangerous conditions.