The Geneva-headquartered asset management arm of the Swiss private bank is set to launch a new fund designed to help combat climate change.

Lombard Odier Investment Managers is partnering with Affirmative Investment Management to strengthen its commitment to impact investing, including the launch of a new climate change-focused fund.

Lombard Odier IM said there is a significant gap between the level of investment into climate change solutions and the amount required each year to meet the objectives of the 2015 United Nations climate change conference to limit climate change to two degrees. The level over the past year is estimated at $360 billion, while $700 billion is the amount required, the firm said.

“A major shift in capital is required to tackle this funding gap, and our investors are keen to understand how they can be involved,” said Carolina Minio-Paluello, global head of sales and solutions at Lombard Odier IM.

“Our approach seeks to combine mainstream portfolio management and impact, without compromising either,” said Stephen Fitzgerald, co-founder and chairman of Affirmative IM.

Affirmative IM was launched in 2014 in London. It is a fixed income asset manager offering strategies that target positive climate and social impact, while also delivering mainstream bond market risk and return.