HSBC Saudi Arabia is now offering the first environmental initiative investment fund in Saudi Arabia, known as the HSBC Global Equity Climate Change Fund, offering 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.
HSBC Saudi Arabia’s role as the first financial institution in the Kingdom to offer customers access to this type of investment, demonstrates a commitment to supporting sustainability objectives under the Vision 2030, and to ESG initiatives (Environmental, Social and Governance).
Muneera Aldossary, Chief Investment Officer at HSBC Saudi Arabia commented “This is a pioneering change for Saudi Arabia and offers investors the ability to support global efforts to reduce the impact of climate change. 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”.
The product will be offered to suitable clients in the Kingdom, including SABB’s Corporate & Private Banking clients (SABB owns 49% of HSBC Saudi Arabia). Mr. Tony Cripps, Member of the Board of Directors of HSBC Saudi Arabia and SABB Managing Director, also commented “We’re extremely pleased to work with our affiliate HSBC in bringing investment options to the Kingdom that help customers play a role in the reduction of climate impact. We have a unique opportunity to bring these capabilities to Saudi Arabia. After our pioneering Green Loan for the Red Sea development project, we continue to find new ways to help support environmentally friendly and sustainable initiatives.”