(Refiles to fix S&P Indices name)
LONDON, Dec 9 (Reuters) - S&P Indices and International Finance Corporation have launched a carbon efficiency index for companies in emerging markets.
The S&P/IFC Carbon Efficient Index should mobilise more than $1 billion of investment in firms with low carbon footprints over the next three years, IFC said in a statement.
The index measures the performance of companies in emerging markets with relatively low carbon emissions. It includes 21 markets and more than 800 stocks.
It should encourage competition among emerging market companies, give them access to long-term investors and lead to emissions cuts in developing countries, IFC said.
The index follows the launch of the S&P U.S. Carbon Efficient Index earlier this year.
Reporting by Nina Chestney; Editing by Keiron Henderson