Yale University's central campus is seen from the air. Photo courtesy of Yale University.

Yale’s board of trustees has approved the opening of a new professional school for the first time in 43 years.

President Peter Salovey announced Saturday that Yale will transform its Jackson Institute for Global Affairs into the Yale Jackson School of Global Affairs.

Salovey said the school will seek to conduct research relevant to the development and adoption of international policy with the idea of creating leaders to tackle issues such climate change, war and peace, ethnic conflict, inequality and migration.

He said the school is slated to open in the fall of 2022, provided the university can raise at least an additional $200 million for its endowment. It is not yet clear if the university plans to purchase or lease additional space to house the school.

Yale said the school will retain the institute’s Senior Fellows Program and students will continue to engage with and learn from distinguished renowned diplomats, military leaders and journalists.