Dec. 10, 2007 Barclays Capital and ABN Amro have unveiled new financial products to help investors take advantage of climate-related projects.

Barclays' Capital Global Carbon Index tracks the performance of carbon credits associated with the worlds major greenhouse gas emissions trading schemes. The index currently tracks carbon credits associated with the two most prominent schemes the EU Emissions Trading Scheme and the Kyoto Clean Development Mechanism although new schemes will be added as they develop. Barclays has created an independent commission comprised of carbon industry executives and institutional investors to oversee the index.

ABN Amro has launched a new clean-tech fund, called Eco-Invest, in an effort to capitalize on the strong returns in that rapidly growing market. The fund will also help facilitate development of new climate products, the bank says.

Barclays Capital is the latest investment bank to create a climate-related index, following in the footsteps of Merrill Lynch, JPMorgan, and HSBC. For more on Barclays' approach to climate management, click here.

Financial institutions are enjoying significant returns from environmentally focused products, according to a recent study.