HSBC Saudi Arabia has announced the launch of the HSBC Global Climate Change Equity Fund, the country's first environmental initiative investment fund.

The new fund will provide relevant investors with access to renewable energy sources, clean transport, sustainable water resources management and climate change adaptation.

This is a revolutionary change for Saudi Arabia and gives investors the opportunity to support global efforts to reduce the effects of climate change, " said Munera Aldossari, chief investment officer of HSBC in Saudi Arabia.

This provides investors with more opportunities to contribute to creating a sustainable future in accordance with the Saudi vision of 2030, she added.

"HSBC supports providing local investors with access to new investment opportunities that help transition to a low-carbon and sustainable economy,"she added.