HSBC Saudi Arabia launches kingdom’s first green fund

HSBC Saudi Arabia unveiled Wednesday the “HSBC Global Equity Climate Change Fund”; the kingdom’s first environmental initiative investment fund.
The fund, the bank said in a statement, will provide eligible investors with exposure to renewable energy, clean transport, sustainable water management, and climate change adaptation, the Arab News reports.
“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. “HSBC supports providing local investors with access to new investment opportunities that help transition to a low-carbon emitting and sustainable economy,” she added.
Aldossary indicated that the new fund will provide more opportunities for investors to contribute in creating a sustainable future in line with Saudi Vision 2030.