UPDATE 1-Merrill Lynch, SocGen launch emissions indexes

(Adds SocGen index launch)

LONDON, Mar 26 (Reuters) - U.S. investment bank Merrill Lynch MER.N and France's Societe Generale (SOGN.PA) both launched global carbon indexes on Wednesday to track the international carbon markets, which were worth some $60 billion last year.

The indexes will allow investors to access the world's carbon markets, including the European Union's emissions trading scheme and carbon trading markets under the United Nations' Kyoto Protocol.

"The (Merrill Lynch indexes) come in response to strong demand from our institutional, asset management, and wealth management clients who seek exposure to the rapidly growing global carbon market," Abyd Karmali, managing director and global head of emissions markets at Merrill Lynch, said in a statement.

The European Union Allowances (EUAs) and U.N.-approved certified emissions reductions (CERs) are currently the most traded greenhouse gas credits, making up more than 99 percent of global market activity.

The research arm of Merrill Lynch said its MLCX Global CO2 Emissions Index will weigh EUAs and CERs at 71 percent and 29 percent respectively.

"The weightings of the new MLCX Global CO2 Emissions Index are based on liquidity of the underlying instruments, a crucially important element for investors looking to gain exposure to a new and fast-growing market," Francisco Blanch, Merrill Lynch's head of global commodities research Francisco Blanch, said.

Societe Generale's SGI-orbeo Carbon Credit Index, launched with joint-venture orbeo, will weigh the two types evenly.

orbeo is a joint venture between Societe Generale and chemicals group Rhodia (RHA.PA). (Reporting by Michael Szabo; Editing by Jane Merriman)