Our Commitment to Sustainability

Fostering a sustainable, environmentally conscious, and inclusive economy stands as a top priority for the UAE, a commitment that was further reinforced by the successful hosting of COP28 in Dubai in 2023. As the first GCC nation to commit to net zero, the UAE has exemplified leadership in decarbonisation through the launch of its Net Zero by 2050 strategy, a comprehensive framework designed to support long-term environmental sustainability.

In line with the UAE's pledge to advance global efforts in the fight against climate change, we have embedded sustainability as a fundamental pillar of CBI’s corporate strategy, demonstrating our dedication to reducing environmental impact and driving responsible growth.

Following a thorough ESG materiality assessment, we have identified key priorities for CBI and developed strategic initiatives to drive impactful and measurable change.  

Below are some initiatives supported by CBI, showcasing our focus on fostering sustainability through impactful technology-driven projects and innovative strategic partnerships.

Environmental

CBI joined forces with e& enterprise and World Wide Generation to launch a Sustainable Finance Banking Utility

CBI signed a sustainability fintech agreement with e& enterprise in partnership with World Wide Generation (WWG) to co-create a National Sustainable Finance Utility for UAE banks. This initiative supports the UAE’s goal of mobilising AED 1 trillion in sustainable finance by 2030.

By leveraging WWG’s cutting-edge platform to integrate sustainability standards into traditional financial analysis and operations, the National Sustainable Finance Utility is poised to accelerate sustainability and digital transformation across the UAE banking sector.

CBI plays a pivotal role as a cornerstone partner in the pilot consortium, empowering financial institutions to effectively map, monitor and market their sustainability performance, both for themselves and on behalf of clients, through a single interoperable platform. 

“Sustainability is very close to my heart. As a bank, we are strongly committed to supporting the UAE’s vision of a more sustainable future for the country, the region and the planet. A key pillar in our banking strategy is partnership driven innovation, and partnering with e& enterprise and World Wide Generation marks a milestone in executing our ambitions to support the establishment of a sustainable finance utility in the banking sector. Similarly, our ability to track and govern our collective sustainability performance is a critical driver in achieving our shared goals. We are proud to be a founding bank on the G17Eco platform.” Ali Sultan Rakkad Al Amri, CEO, Commercial Bank International.

CBI invested in Boomitra, a pioneering carbon project developer and Earthshot Prize winner

Boomitra is the leading international soil carbon marketplace powered by AI and remote sensing technology

CBI invested in Boomitra to  advance regenerative agriculture initiatives across the Middle East, Africa, and Asia, utilising AI-enabled solutions to empower farming communities and boost climate resilience. CBI’s investment will support Boomitra’s efforts in leveraging cutting-edge satellite data and AI to measure soil carbon sequestration. This innovative approach will enhance soil health and boost crop yields while generating carbon credits that offer financial incentives to farmers.

CBI partnered with Zumo to advance innovation in Sustainability of Digital Assets

CBI signed of a Memorandum of Understanding (MOU) with Zumo, an award-winning digital assets-as-a-service platform registered with the UK Financial Conduct Authority (FCA). The partnership enables both parties to explore the tracking of digital asset sustainability, marking a significant step in CBI’s commitment to furthering innovation and offering cutting-edge digital solutions to its clients.This partnership is well-positioned to support the nation’s ambition to integrate blockchain into its financial ecosystem with sustainability at its core.

“Our partnership with Zumo marks a significant milestone in CBI’s ongoing commitment to innovation and sustainability. Aligned with our vision of partnership driven innovation, we look forward to collaborating with Zumo to become one of the first banks in the world to provide carbon footprint insights with carbon offsetting for digital assets. This revolutionary capability will ensure that, as digital assets become further embedded within the financial ecosystem, customers and institutions have the required tools and data to ensure their sustainability goals are tracked and achieved.” Giovanni Everduin, Chief Strategy & Innovation Officer, Commercial Bank International.

CBI partnered with Emirates Development Bank (EDB) to advance financial inclusion for growing companies

In a move to significantly boost financial inclusion and empower SMEs, CBI partnered with EDB for a joint credit guarantee program. Under this partnership, EDB will guarantee up to 50% of the loan amount provided by CBI to eligible SMEs, significantly reducing the risk for both parties.

This strategic partnership marks CBI as the 13th commercial bank to join EDB's Credit Guarantee Scheme, further driving crucial access to finance for SMEs. The scheme has already provided significant financing exceeding AED 1.5 billion; thereby enhancing financial inclusion and promoting entrepreneurship and economic opportunity.

Our partnership with EDB reflects our dedication to further empowering SMEs and fostering innovation in line with the UAE’s long-term economic vision.

CBI partnered with Abhi to facilitate their Earned Wage Access facility

CBI signed a milestone partnership with Abhi, a leading fintech company that provides Earned Wage Access (EWA) throughout the MENAP region.

Abhi is a financial wellness focused fintech that, through its platform, gives employees the flexibility to access and withdraw their earned wages in real-time, ultimately empowering them to take better control of their finances. Currently servicing more than 500 companies across the globe, Abhi has been selected as one of the Future 100 companies in the UAE.

The milestone partnership between CBI and Abhi marks CBI as the first bank in the UAE to partner with a fintech to offer EWA services to both employees and customers. The collaboration underscores CBI’s commitment to innovation, with both parties leveraging their collective strengths to drive transformative impact on financial inclusion.

Social

At CBI, we strive to create meaningful value for our customers, employees, and communities. We truly believe that our long-term success is built on trust and transparency, that is why we place our customers at the centre of everything we do. By deeply understanding our customers, we’re able to respond to their needs and foster lasting relationships. 

We prioritise employee well-being, fostering a supportive and empowering environment where everyone can thrive. We also champion diversity and inclusion, ensuring that our workplace celebrates different perspectives and provides equal opportunities for all. By prioritising these values, we cultivate a culture of respect, innovation, and collaboration.

Governance

CBI places strong emphasis on implementing corporate governance practices that adhere to international standards and local regulations, ensuring strong risk management, transparency, and accountability throughout our operations.

Sustainability is embedded within our governance framework. We established an ESG & Sustainability Committee, consisting of all members of our Executive Management Committee, which monitors all aspects of ESG & Sustainability, ensuring alignment with the approved ESG strategy. The committee reports directly to the Board Executive Committee, which is responsible for overseeing the development and execution of CBI’s ESG & Sustainability strategy and recommended related policies to the Board of Directors, which retains ultimate oversight. This approach ensures sustainability remains integral to our governance and decision-making processes.

You can find further information on our commitment to sustainability in CBI’s 2024 Sustainability Report here.