The International Finance Corporation, part of the World Bank group, has teamed up with Standard & Poor’s to launch a carbon-efficiency index for emerging markets using data from Trucost, the London-based carbon analysis firm. The index was launched in Copenhagen today. The IFC said the new S&P/IFC Carbon Efficient Index aimed to mobilize more than $1bn (€680m ) in capital investment for carbon-efficient companies over the next three years. The index will closely track the performance of the S&P/IFC Investable Emerging Markets Index – while reducing the carbon footprint of their portfolios by 24%. Rachel Kyte, IFC’s vice president for business advisory services, said: “With growing pressure on investors to diversify and maintainreturns by increasing exposure to emerging markets, and with more and more investors keen to demonstrate a preference for sustainability, including carbon efficient companies, IFC hopes that the launch of this index will help ensure that carbon efficiency is rewarded in the market and that best-in-class companies gain better access to capital.” The initiative draws upon the Carbon Disclosure Project’s leading project to encourage public disclosure of carbon emissions and was supported by the UK’s Department for International Development and the Global Environment Facility, a World Bank project for promoting sustainable and environmental investing in developing countries.