HSBC Asset Management has launched a circular economy investment fund, aiming to achieve the United Nations’ 17 Sustainable Development Goals (SDGs), the global banking giant announced today.

He said the HGIF Global Equity Circular Economy fund would invest in around 60 companies that “enable the transition to a global circular economy”, working in areas such as recycling, regenerating natural systems and “designing waste and pollution”.

The Article 9 fund – defined as one that aims for sustainable investing or reducing carbon emissions – is designed to be independent of the benchmark and will not be subject to fixed allocations by region, sub-sectors or stages of the business, HSBC said, adding that it will be looking to target both wholesale and institutional investors, with a focus on high net worth individuals, family offices and banks private.

The fund is expected to be co-managed by HSBC Asset Management’s Bénédicte Mougeot, head of the company’s climate actions, and François Travaille.

“We are launching this fund to help finance the transition to more sustainable ways of managing resources and waste while giving investors access to a unique investment opportunity,” Mougeot said.

It is the fourth ESG-focused fund released by HSBC AM this year, following two ETFs focused on emerging markets and Asia-Pacific excluding Japan, and an Asian bond fund.

Erin Leonard, Head of Sustainability at HSBC AM, added: “We use 1.8 planets’ worth of resources every year and critical resources are becoming increasingly scarce. We need businesses to be smarter in their production and consumption patterns. This fund will support companies that are leading the way in this critically important area of ​​innovation.”

A version of this article originally appeared on Investment Week.