Data: Rhodium Group; Chart: Axios Visuals

The U.S. has spent the biggest share of its GDP on discretionary stimulus spending compared to other major economies, but it’s spent the smallest share on clean energy, per a new analysis from consultancy Rhodium Group.

Why it matters: To what degree the world invests in clean-energy technologies as it recovers from the pandemic-induced recession could go a long way toward reaching climate goals.

Data: Rhodium Group; Chart: Axios Visuals

By the numbers:

  • The U.S. has spent roughly 12% of its GDP on discretionary stimulus spending, but it’s spent the smallest share on green spending, at just 1.1%.
  • That’s compared to the European Union, which has spent so far 10.4% of its GDP on discretionary stimulus but more than 20% is going toward clean energy.

Go deeper

Ben Geman, author of Generate
Sep 30, 2020 - Energy & Environment

Energy industry veterans form SPAC to take climate startups public

Illustration: Rebecca Zisser/Axios

A group of energy industry veterans announced Tuesday that they are launching a special purpose acquisition company (SPAC) aimed specifically at taking climate tech startups public.

Why it matters: They're self-branding as "the world’s first climate-focused" SPAC to launch.

Quibi says it's shutting down

Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images

Quibi, the mobile-only video subscription streaming service, is shutting down, the company announced Wednesday. The company said the decision was made to preserve shareholder equity.

Why it matters: Quibi had struggled to hit its subscriber growth targets amid the global pandemic. The app launched six months ago.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Senate Democrats block vote on McConnell's targeted COVID relief bill McConnell urges White House not to strike stimulus deal before election.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: New York reports most COVID cases since MayStudies show drop in coronavirus death rate — The next wave is gaining steam.
  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases.