Stock index to track Aussie climate winners

London, 17 May: RepuTex has developed two new indexes to track companies listed on the Australian Stock Exchange (ASX) that tackle climate change and develop clean technologies.

The Melbourne-based investment research and ratings agency has assessed each of the S&P ASX 300 companies and determined which will be best able to adapt and compete in a carbon-constrained world.

"The RepuTex Climate Change Growth Index will identify the companies best able to address the risks and convert the opportunities for growth into bottom-line profits," said head of research Hugh Grossman.

He said climate change factors were already having an impact on company earnings and the impact is likely to grow as regulations – such as carbon trading schemes – are introduced. Some 45 companies currently qualify for the index, based on their strategy, innovation and management of carbon risk and exposure.

Companies reported to be in the index include mining giants BHP Billiton and Rio Tinto and property trusts Mirvac and Investa.

RepuTex has also created a clean-tech index, identifying the leading manufacturers of clean technology products and services. "These companies provide a direct technological solution to address climate change, such as renewable energy, alternative fuels and efficiency gains," Grossman said. He did not say how many companies were in this index.

RepuTex will begin calculating the indexes in June with the full list of companies available on subscription, it said.

85 million to buy 'carbon credits' from projects that the bank is financing.