Green Bonds Take Root, but They Don’t Yet Substitute Traditional Fixed-Income Assets

Jose Garcia Zarate is associate director of passive strategies for Morningstar UK Ltd, a wholly owned subsidiary of Morningstar, Inc. He was previously a senior analyst on the team, which covers exchange-traded funds, exchange-traded products, and index funds.

Before joining Morningstar in 2010, Garcia Zarate spent seven years as a senior European government-bond analyst for 4Cast, an economic consulting firm and financial market research provider. Before that, he was a macroeconomic analyst and eurozone sovereign-bond analyst for S&P MMS and a macroeconomic country analyst for Hilfe Research, an economic consulting firm in London. He began his career as an analyst intern for Spain’s economic ministry, working in the external trade department in the ministry’s Chicago office.

Garcia Zarate holds a bachelor’s degree in economics from San Pablo CEU University in Madrid, a diploma in politics from the London School of Economics, and a diploma in psychology from Birkbeck, University of London.

Mara Dobrescu, CFA, is global asset class lead for fixed-income strategies for Morningstar France Fund Information SARL, a wholly owned subsidiary of Morningstar, Inc., and is based in Paris. Dobrescu was previously a senior analyst covering European fixed-income funds, and prior to joining the research team in March 2011, she was a data analyst focusing on French mutual funds.

Before joining Morningstar in 2008, Dobrescu spent a year working for the Public Policy Evaluation Unit, an administrative division attached to the French government.

Dobrescu holds a master’s degree in economic governance and political science from Sciences Po Paris. She also holds the Chartered Financial Analyst® designation.