Shanghai Stock Exchange (SSE) and China Securities Index (CSI) will on Oct. 8 launch China’s first carbon efficiency index, which will include data for a number of China’s biggest emitters.
The SSE180 carbon efficiency index will show the CO2 intensity of major companies in a broad range of sectors, including power generation, oil and gas, chemicals, manufacturing, ports and financial institutions.
An initial list of participants included PetroChina, China Petroleum & Chemical Corporation, Wuhan Iron & Steel, and CITIC Securities.
It will show carbon efficiency as tonnes of CO2 emissions per unit of share value, SSE and CSI said in a statement. A company’s carbon efficiency must be below a certain level for the firm to be included in the index.
The index will use company data provided by UK firm Trucost, and will be updated daily based on the market value of each company’s shares.
Chinese companies rarely publish environmental data, and the ranking will be the first serious contribution towards creating transparency around carbon efficiency trends among major Chinese emitters.
The founders said in a statement the index would help allocate green investment funds.