To change the source and add details and background

By Hadeel Al-Sayegh and Youssef Saba

Oct 6 (Reuters) - Saudi Arabia's Public Investment Fund has appointed banks to manage its first euro-denominated green bond offering, a source and a banking document seen by Reuters said.

The offering comes as part of diversifying funding sources and supporting the Kingdom's economic transformation plans, with the goal of reducing carbon emissions to zero by 2060.

The document showed that the fund, which manages assets worth nearly $1 trillion, has appointed Credit Agricole, JPMorgan, and Société Générale to arrange investor calls starting Monday. The fund has yet to comment.

Green bonds are debt instruments whose proceeds are allocated to environmental or sustainable projects.

The fund entered the green debt market in 2022 and has since issued several dollar-denominated bonds under its Green Finance Framework, which it also published on its website in 2022.

Under the framework, proceeds can be directed to renewable energy, clean transportation, and sustainable infrastructure projects, including those of its subsidiaries that are aligned with Saudi Vision 2030.

In 2021, Crown Prince Mohammed bin Salman announced a goal of achieving net-zero emissions by 2060.

(Prepared by Mahmoud Reda Murad for the Arabic edition - Edited by Marwa Gharib)