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The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
Historical analysis does not guarantee future results.
UOP and SLB greeniums are determined by comparing their yields to those of similar-maturing non-ESG-labeled bonds issued by the same companies. Total number of UOP and conventional bond comparisons: 709; total number of SLB and conventional bond comparisons: 49. AB’s ESG-Labeled Bond Analysis Tool compares ESG-labeled bonds to their closest-maturity conventional bonds on their curve. Only ESG-labeled bonds with a maturity date within two years of the maturity date of the non-ESG-labeled-bond, and at the same seniority level, were included in this analysis. This leads to a smaller number of SLB comparisons than for UOPs, as many SLBs are from smaller capital structures without peer conventional bonds with a maturity date within two years of the maturity date of the SLB.
The data are derived from AB’s ESG Bond Analysis Tool, which is based on the Bloomberg Global Aggregate Bond, Bloomberg Global Aggregate Corporate and Bloomberg Global High Yield indices.
Numbers may not sum due to rounding.
As of April 30, 2023
Source: Bloomberg and AllianceBernstein (AB)
Historical analysis does not guarantee future results.
To determine ESG scores, AB uses a data-informed, factor-based methodology to derive objective ESG assessments, which are expressed on a numerical range from 0 (lowest) to 10 (highest) to depict an issuer’s absolute ESG strength.
The data are derived from AB’s ESG Bond Analysis Tool, which is based on the Bloomberg Global Aggregate Bond, Bloomberg Global Aggregate Corporate and Bloomberg Global High Yield indices.
Numbers may not sum due to rounding.
As of April 30, 2023
Source: Bloomberg and AB
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
Patrick O'Connell is a Senior Vice President and Director of Fixed Income Responsible Investing Research. In this role, he is part of the leadership team that develops responsible investment strategy across AB's Fixed Income business, particularly related to integrating environmental, social and governance considerations throughout the team's research and engagement. Previously, O'Connell served as a corporate credit research analyst, focusing on emerging-market corporates in Latin American and African countries. He joined the Emerging Markets research team in 2013 after working as a credit analyst covering US high-yield energy credits at AB. Prior to joining the firm in 2012, O'Connell was a desk analyst at UBS Investment Bank, where he helped to allocate capital on the trading desk. He holds a BS in accounting and finance (magna cum laude) from Villanova University and is a CFA charterholder. Location: New York
Tiffanie Wong is a Senior Vice President and Director of Fixed Income Responsible Investing Portfolio Management. In this role, she is part of the leadership team that develops responsible investment strategy across AB's Fixed Income business, particularly related to integrating environmental, social and governance considerations throughout the team's portfolio construction processes and overseeing management of several of the team's sustainable strategies. Wong also serves as Director of Global & US Investment-Grade Credit, responsible for the management and strategy implementation of the firm's Global & US Investment-Grade Credit portfolios, including total-return and income-oriented credit strategies for institutional and retail clients. She has worked closely with AB's Quantitative Research team to leverage the firm's technology innovations within fixed-income trading and research to apply a more systematic approach to AB's credit investing. Prior to joining AB's Fixed Income portfolio-management team, Wong served as an associate portfolio manager on the Credit team, focusing on various strategies for the Global and US Credit portfolios—including total return, buy and hold, and liability matching. Before joining AB in 2012, she was a fixed-income portfolio analyst and trader at Segall Bryant & Hamill and a fixed-income portfolio associate at Wells Capital Management. Wong holds a BA in economics with a minor in business institutions from Northwestern University and is a CFA charterholder. Location: New York
This is a marketing communication. This information is provided by AllianceBernstein Schweiz AG, Zürich, a company registered in Switzerland under company number CHE-306.220.501. AllianceBernstein Schweiz AG is a financial service provider within the meaning of the Financial Services Act (FinSA) which is not subject to any prudential supervision in Switzerland. Further information on the company, its services and products, in accordance with Art. 8 FinSA can be found on the Important Disclosures page at www.alliancebernstein.com. It is provided for informational purposes only and does not constitute investment advice or an invitation to purchase any security or other investment nor is it a recommendation to subscribe to a financial service. The views and opinions expressed are based on our internal forecasts and should not be relied upon as an indication of future market performance. The value of an investment can go down as well as up and investors may not get back the full amount they invested. Capital is at risk. Past performance does not guarantee future results.
This information is directed at Qualified Investors only and is not intended for public use.