Even CDOs come in green - with ESG everywhere, buyers beware
It started with bonds. Now even collateralized debt obligations (CDOs) come in green. From the humble bank loan to a complex swap, there is virtually no corner of finance for which an ESG product hasn’t been created. Experts say investors should tread cautiously.
By Alastair Marsh, BLOOMBERG
In less than a decade, ESG—a style of lending and investing that gives the same weight to environmental, social, and governance issues as to traditional metrics such as leverage and cash flows—has moved out of the wings and onto center stage. Wall Street has unleashed engineers and experts on structuring and marketing securities to offer a whole load of new financial products.
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