Why It Matters

Social, green, and sustainable are all pretty big buzzwords these days. So it’s little wonder that the issuance of bonds linked to those things has been on a roll – hitting a record $272.7 billion in the first quarter. More than 70% of the new debt was in green bonds ,the type used to finance environmentally friendly projects. The assets have grown in popularity among increasingly eco-minded investors, with the amount offered since 2006 crossing the $3 trillion mark early this year for the first time.

Agriculture accounts for a fifth of global greenhouse gas emissions, with a huge portion coming from raising livestock. As a major pork and dairy exporter, Denmark knows that all too well. After all, farming is the country’s biggest source of those emissions. So in an effort to make the sector greener and inspire other nations to do the same, the Danish government approved the world’s first carbon tax on agriculture last week.

The EU’s Digital Markets Act aims to stop tech giants from dominating the market, ensuring actual competition and more choice for consumers. Last week, the EU accused Apple’s App Store of restricting developers from directing customers to cheaper alternatives. Apple could face hefty fines of up to 10% of its global annual revenue. Microsoft also fell into the EU's crosschairs, accused of anti-competitive practices for bundling its Teams app with its Office software suite.

A grim reality is setting in for Japanese authorities as the yen continues its rapid plunge. The currency hit a 38-year low against the US dollar last week, slipping past the level it reached in late April before Japan’s finance ministry intervened, selling a record $62 billion and buying yen, in a bid to boost the currency. Analysts suspect authorities might not want to repeat the move, given that it didn’t make a real difference. After all, the interventions can’t address the root cause of what’s dragging the yen lower: the yawning gap between US and Japanese interest rates.