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!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

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!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

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!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

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!

Photo illustration: Aïda Amer/Axios. Photo: Mandel Ngan/AFP via Getty Images

After co-piloting President Obama's efforts to fight climate change as vice president, Joe Biden is having his second go, releasing a broad infrastructure proposal his administration hopes will lead to meaningful legislation and investment into stemming U.S. greenhouse emissions.

The big picture: Though there are no concrete programs yet — Congress will have to formulate those — many in venture capital are hopeful such programs will provide new opportunities for startups tackling climate change.

What they're saying:

If these programs are done right, we could see a wave of new companies emerging from labs across a range of critical technology areas, a more diverse set of entrepreneurs spread across more regions of the country, better coordination between government and private sector on shared priorities, and more domestic manufacturing. ... Details in these programs matter a great deal for startups, as we all so painfully remember from the PPP debates last year. So we are going to be active and engaged on how the plan impacts the startup community, whether it's fighting to make startups eligible for energy tax credits, that new company formation is a priority in research and technology commercialization programs, that any U.S. manufacturing policy include support for the production scale-up of growth companies, and any other issues that may unintentionally make startups and growth companies ineligible for the programs created by the American Jobs Plan.
Justin Field, National Venture Capital Association

The other side: While the administration's commitment to taking on this issue is widely praised by the industry, some don't think the sector will need the government.

[W]e aren't counting on the government's direct help in our investment thesis. Why? Today, with shared lab space, massive computing clusters available for rent, proliferation of machine learning, cheap renewable electricity, the discovery of CRISPR/Cas9, breakthroughs in electrochemistry, and more streamlined tech transfer from universities, true seed-stage climate tech startups are possible at scale. Some benefit from grants and government investment, and no doubt healthy public investment in research and science lifts all boats, but barely any of these climate tech companies count on governments for handouts because they increasingly can rely upon free markets to reward them with customers.
Lowercarbon Capital

Go deeper: The top climate takeaways from Biden's sweeping infrastructure plan

Go deeper

Climate spending is a story of the century

Illustration: Aïda Amer/Axios

A successful global effort to slash carbon emissions demands huge investments to finance the unprecedented transformation of energy systems and related infrastructure — and it's a capital shift that's already well underway.

Why it matters: Private investment is already ramping up, and President Biden wants to spend hundreds of billions of dollars. Independent experts say the spending that will be needed to achieve net-zero carbon emissions by 2050 — a goal now embraced by the U.S. and many other countries — would be on the scale of the Industrial Revolution.

Biden's budget would boost climate, clean energy spending

Emissions rise from the Kentucky Utilities Co. Ghent generating station in Ghent, Ky., on April 6, 2021. Photo: Luke Sharrett/Bloomberg via Getty Images

President Biden's first budget request to Congress contains large increases in climate-change-related spending, on the order of $14 billion above the prior year's levels, according to a White House summary.

Why it matters: It provides details on how the White House hopes to translate its vow to act aggressively on global warming, both at home and abroad, into specific funding levels and agency-by-agency plans.

Climate change is a major threat to stability, spy agencies say

Illustration: Sarah Grillo/Axios

Climate change will lead to a less secure, more crisis-prone world that will strain global institutions, according to a major national security assessment released Thursday.

Driving the news: The “Global Trends Report,” produced every four years by the National Intelligence Council, spotlights climate change among the main structural forces shaping the next two decades.