Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.

3 Comments

  1. Matthew J Ayearst
    March 4, 2021 @ 10:31 pm

    I am curious about this green curve as bonds are usually priced off the benchmark and then by industry and credit rating. So I am not sure how the green curve bonds would be fungible?

    • Mark Segal
      March 4, 2021 @ 11:28 pm

      If it’s a similar set up to Germany, it means that the green bonds are issued in parallel with regular (non-green) bonds with the same maturity and coupon. Comparing the yield between the two bonds allows the market to determine the premium given to the green attributes of the bond (the “greenium”). Comparing the greenium of bonds of different maturities creates the green curve.

  2. Matthew J Ayearst
    March 11, 2021 @ 2:24 am

    I guess that makes sense but it is rather unconventional and burdensome as it just means its another curve to maintain and how do you know what bond is the one to price from.

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