CDSs seek role in green transition
Despite slow start, fans insist iTraxx ESG index can aid green push
Attempts to position credit default swaps as a tool for meeting environmental, social and governance objectives in fixed income portfolios have been slow to catch on, though traders are optimistic that products once described as “unethical” by the Vatican have a crucial role to play in green transition.
Since its launch in March 2020, the iTraxx MSCI ESG Screened Europe Index – Europe’s leading ESG CDS benchmark – has struggled to attract volumes. In early December, traders held only $309
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