A bond veteran is buying debt of polluters as rivals back away
Tina Vandersteel favors the bonds of some big polluters, a strategy that sets her apart from a crowd of investors who are caving in to pressure to ditch such assets.
By Malavika Kaur Makol / Bloomberg
Vandersteel, a three-decade bond veteran at Grantham Mayo Van Otterloo & Co., is buying debt sold by Latin American oil and gas companies such as Petroperu and Petroleos Mexicanos. In avoiding these securities, investors are overlooking company plans for improving their environmental, social and governance scores, she said.
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