HSBC Saudi Arabia announced on Tuesday the launch of the first environmental initiative investment fund in the Kingdom.
Known as the HSBC Global Equity Climate Change Fund, the fund offers eligible investors exposure to renewable energy, clean transport, sustainable water management and climate change adaptation.
"This will provide interested customers participation and direct access to investments that help reduce the impact of climate change," the bank said in a statement.
HSBC Saudi Arabia said its role as the first financial institution in the Kingdom to offer customers access to this type of investment demonstrates its commitment to supporting sustainability objectives under the Vision 2030.
“This is a pioneering change for Saudi Arabia and offers investors the ability to support global efforts to reduce the impact of climate change,” Chief Investment Officer at HSBC Saudi Arabia Muneera Aldossary said.
"This brings increased opportunity for investors to help create a sustainable future in line with the Saudi Vision 2030. HSBC supports providing local investors with access to new investment opportunities that help transition to a low-carbon emitting and sustainable economy,” Aldossary added.
