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Expand chart
Reproduced from Institute of International Finance; Chart: Axios Visuals

Green financial instruments continue to see widespread adoption and diversification, in terms of both instruments and geographies.

What's happening: Total green and sustainability debt issuance in 2019 is poised to double levels from 2017 and will be almost four times the level issued as recently as 2016, according to projections from the Institute of International Finance.

  • The green bond market is still largely concentrated in a few countries and sectors but is growing quickly.
  • One example: Kenyan property developer Acorn Holdings recently issued $41 million of debt to fund environmentally friendly student housing in Nairobi.

What they're saying: "At around $155 billion year to date (50% higher than the same period of 2018), green bond issuance is dominated by the U.S. and Europe, with public sector entities, utilities and banks leading the way. However, new entrants continue to make their green bond debuts," IIF economists wrote in a recent note to clients.

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Biden picks up his pen to change the tone on racial equity

Vice President Harris looks on as President Biden signs executives orders related to his racial equity agenda. Photo: Doug Mills-Pool/Getty Images

President Biden is making a down payment on racial equity in a series of executive orders dealing with everything from private prisons to housing discrimination, treatment of Asian Americans and relations with indigenous tribes.

The big picture: Police reform and voting rights legislation will take time to pass in Congress. But with the stroke of his pen, one week into the job Biden is taking steps within his power as he seeks to change the tone on racial justice from former President Trump.

Most Senate Republicans join Rand Paul effort to dismiss Trump's 2nd impeachment trial

Photo: Joshua Roberts-Pool/Getty Images

Forty-five Senate Republicans, including Minority Leader Mitch McConnell, supported an effort to dismiss former President Trump's second impeachment trial.

Why it matters: The vote serves as a precursor to how senators will approach next month's impeachment trial, making it highly unlikely the Senate will vote to convict. The House impeached Trump for a second time for "incitement of insurrection" following events from Jan 6. when a pro-Trump mob stormed the Capitol.

Texas judge temporarily halts Biden's 100-day deportation freeze

Photo: Mandel Ngan/AFP via Getty Images

A federal judge in Texas has temporarily blocked the Biden administration's 100-day freeze on deporting unauthorized immigrants.

Why it matters: Biden has set an ambitious immigration agenda, but he could face pushback from the courts.