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Markit, a financial information services company, and the Carbon Disclosure Project (CDP), the leading independent global climate change reporting platform, today announced their intention to launch a family of investment indices reflecting the financial performance of companies with strong carbon management strategies.
By combining CDPs benchmark climate change data and Markits index expertise, the two companies aim to create a family of high quality equity indices that will help investors gain exposure to companies that actively manage their impact on the environment.
The stock selection and weighting will be based on CDPs annual corporate Carbon Disclosure Leadership Index (CDLI) data. CDP gathers data from companies globally through an annual information request on behalf of 475 institutional investors. The individual corporate reports are scored by professional services firm PricewaterhouseCoopers LLP based on the quality of information disclosed. This provides a deep insight into companies greenhouse gas emissions and climate change management strategies.
Markit and CDP plan to launch an index for the UK and Europe, in addition to a US index and a global index. Markit intends to license the indices to exchange-traded fund (ETF) and structured product providers.
Niall Cameron, Executive Vice President of Commodities, Indices, Equities and Risk Management at Markit, said:
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