1 big thing: IPOs mean climate pressure on Uber and Lyft

Planned IPOs by Uber and Lyft will likely lead to pressure from shareholder activists who want the ride-hailing giants to act more aggressively on stemming carbon emissions.

Why it matters: The IPOs come as some analysts fear that the growth of ride-hailing is siphoning riders from more climate-friendly mass-transit options and adding to congestion.

  • Once the companies are public, advocates will have new chances and tools — such as shareholder resolutions — to push for disclosures and steps like stronger initiatives around electric vehicles and shared rides.

What they're saying: Sue Reid of the sustainable investor advocacy network Ceres tells Axios...