Standard & Poor's, the granddaddy of indexing companies, has launched three new "thematic indices" for the clean and green crowd. Although not currently tradable, do not be surprised if index mutual funds or ETF's are soon created to mirror these baskets. They are:

S&P Global Clean Energy Index: Representing 30 companies, 10 countries, and a total market capitalization of $117 Billion, this index is a composite of clean energy producers, equipment makers, and technology companies. The top 10 holdings are:

1. MEMC Electronic Materials (NYSE:WFR)

2. Vestas Wind Systems A/S

3. Renewable Energy Corporation AS

4. Suntech Power Holdings (NYSE:STP)

5. Solarworld AG

6. Germany Q-Cells

7. Endesa-Chile

8. Copel -PNB (Companhia Paranaense de Energia SA)

9. ACCIONA SA

10. Sunpower Corp.

S&P Global Infrastructure Index: Representing 75 companies, 22 countries, and an aggregate market cap just shy of $1 Trillion dollars, this index focuses on utilities, transportation and energy. It's top 10 components are:

1. Abertis Infraestructuras

2. E.On AG

3. Autostrade SPA

4. TransCanada Corporation

5. Macquarie Infrastructure Group

6. Williams Cos

7. Suez SA

8. Kinder Morgan

9. Enbridge Inc

10. El Paso Corp.

S&P Global Water Index: Representing 49 companies, 14 countries, and $227 billion in aggregate market cap, this index focuses on water utilities, water equipment makers, and water infrastructure. It's top 10 components are:

1. Veolia Environnement

2. Suez SA

3. Mitsubishi Heavy

4. Kubota Corp.

5. United Utilities

6. Danaher Corp.

7. ITT Corporation

8. Nalco Holdings

9. Pentair Inc.

10. Severn Trent

Although not perfect, these indices do a respectable job of separating out companies whose clean tech activities are only a subsidiary of a larger company. For example, even though Shell Solar and BP Solar are giant players in the solar space, it's impossible to buy their stock and not be entangled primarily with their non-renewable businesses.

The way to take advantage of these indexes is to find a broker or adviser that can handle what is called a Separately Managed Account (SMA). These accounts allow you to purchase underlying components of indices to more or less mirror its performance. Ideally, SMA's require $250,000 to run efficiently without getting killed by transaction costs. With less than that, stick to the existing clean tech ETF's, like the Powershares Wilder Hill index.

Mark Brandon is the owner of First Sustainable, a registered investment advisory catering to socially responsible investors.