Buch, Englisch, 240 Seiten
Instruments, Markets, Principles and Standards
Buch, Englisch, 240 Seiten
ISBN: 978-1-394-26705-7
Verlag: Wiley John + Sons
In Sustainable Fixed Income, Christoph Klein, together with several leading managers and academics, delivers expert coverage of fixed-income research and credit analysis guided by sustainability objectives.
Part One describes the fixed-income market, beginning with a brief history and then introducing government bonds as its cornerstone. It discusses the assumption that government bonds from leading developed countries can still be considered risk-free. Part Two covers the measurement of corporate credit risk. The author explains how to build a comprehensive quantitative Credit Rating Model that incorporates ESG key performance indicators (KPIs) for individual issuers. Part Three discusses ESG risk assessments and ratings, as well as the link between ESG and credit risk. It provides examples of how artificial intelligence (AI) can help investors and risk managers detect and monitor risks. Part Four provides an overview of sustainable finance instruments, such as green bonds, as well as principles and developments in global capital markets. It includes regulators’ perspectives on how banks must measure and manage ESG and climate risks and discusses how fixed-income investors can generate impact. Furthermore, this section provides insights into the recommended skills for market participants.
An insightful and comprehensive discussion of a timely subject in credit risk analysis, Sustainable Fixed Income will earn a prominent place in the libraries of portfolio managers, risk professionals, fixed-income securities analysts, investors, financial officers, treasurers and traders everywhere.
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Contents
Acknowledgements
Foreword
About the Authors
Introduction
Part One The foundation of Fixed Income markets
Chapter 1 A brief history of the Fixed Income Market – Christoph Klein
Chapter 2 Are Government Bonds Still Risk-Free Benchmarks and “Sustainable”?
Helmut Kaiser and Werner Krämer
Part Two Measuring Credit Risk
Chapter 3 Measuring Corporate Credit Risk – Christoph Klein
Chapter 4 Credit Rating Agencies – Daniel Cash and Kelvin Dalrymple
Chapter 5 The Rating Agency Scope. Why a European perspective matters- Dr. Herbert Meyer and Christoph Klein
Part Three Including ESG in the risk assessment
Chapter 6 From Opacity to Agency. Why Sustainable Investing Demands a New Data
Architecture - Benjamin Krusche
Chapter 7 Modern Technologies to Monitor and Manage ESG Risks. With Reference to Syenah GmbH's ESG-Sentinel Platform - Sanam Gartung
Part Four How can Fixed Income Markets support sustainability?
Chapter 8 Sustainable Finance Instruments – Marcus Pratsch
Chapter 9 Can fixed-income investors generate impact? – Christoph Klein
Chapter 10 What competences are needed by market participants? – Kim Schumacher
List of Terms and Abbreviations
