A new exchange-traded fund from Global X seeks to invest in the green-building market, the company announced Wednesday.

The need for lower-carbon dwellings is projected to ramp up in the coming years, with the world’s population on track to reach nearly 10bn people by 2050, most of whom will reside in urban areas, the company stated, citing data from the United Nations.

By that time, the housing stock will need to double in order to accommodate growing demands for place for people to live and work, Global X said.

The Global X Green Building ETF, which has an expense ratio of 45 basis points, will “invest in companies that are positioned to benefit from increased demand for buildings that reduce or eliminate negative impacts, and/or create positive impacts, on the natural environment, including green building development, green building management and green building technologies and materials.”

Some urban areas will be more affected by changing climate and rising sea levels, the firm noted. Buildings account for 38% of energy-related carbon emissions across the world as well as half of all extracted materials, making the area “key to reducing building-related emissions and improving urban resiliency in the face of climate change.”

Global X’s thematic growth line of 35 ETFs represent more than $19bn in assets under management, according to the firm.