Trucost's new web-based environmental ratings service has gone live in a £350,000 deal with IT experts Michaelhouse.

Managing director Jacoby Thwaites said: "The Trucost Environmental System claims to be the first rating tool to measure the environmental performance of an organisation and its supply chain.

"The launch of this new service cannot escape insurance industry attention given the massive political, economic and social spotlights currently scrutinising the environment and global warming.

He added: "And there is also legislation in the air - witness the recent UK Modernising Company Law White Paper.

"It proposes greater business transparency on environmental issues, which has important implications for how large companies in the UK compile their company reports.

"We believe that this important new service will lead to more thoughtful corporate behaviour."