A stock index reflecting the effects of climate change on Australian corporations will go live next month.
The Climate Change Growth Index will identify and track companies best able to address global warming risks and maximise opportunities for growth, ratings agency RepuTex said.
RepuTex said the index would use a groundbreaking methodology which measures the future earning capacity of companies.
It would take into account such issues as a carbon price, water shortages and greenhouse gas emissions targets.
RepuTex has identified 45 companies in the S&P/ASX 300 which qualify to be listed on the index.
Head of research Hugh Grossman said the effects of climate change on company earnings would likely grow when regulatory measures like a carbon trading scheme were introduced.
"The index will enable investors for the first time to better anticipate these impacts on earnings and identify the best-performing companies in a climate change economy," Mr Grossman said.
"The criteria to determine their capacity include effective strategy, innovation and management of carbon risk and exposure."
The company also will introduce next month the Clean Tech Index, identifying leading creators of and manufacturers of clean technology equipment, products and services.
The index is the second in RepuTex's Carbon Series.
"(It) will identify companies that are best placed to compete and create wealth by reducing the global carbon footprint with specific products and services," Mr Grossman said.
"These companies provide a direct technological solution to address climate change such as renewable energy, alternative fuels and efficiency gains."
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