Dubai, UAE, 15 May 2023: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has signed a Memorandum of Understanding to enter a sustainability and innovation focused collaboration with Microsoft. The initiatives will be built on the back of the parties’ recent collaborative effort – the digital partnership and technology operating model that brought the bank a step towards fulfilling their vision to be the most innovative bank for its customers, people and communities.
The collaboration aims to enable focused advancement of sustainability goals for both parties through knowledge sharing, and by identifying opportunities for each party to support the implementation of collaborative frameworks and the development of future commitments.
The collaboration’s operational model is envisioned to focus on the following pillars:
- Measurement: Using Microsoft Emissions Impact Dashboard for insights into the bank’s carbon emissions and Microsoft’s Cloud for Sustainability to help measure its carbon impact.
- Data conversion: Leveraging Microsoft’s advanced analytics and machine learning tools to translate existing and new data into actionable insights and jointly identify opportunities to advance collective sustainability goals.
- Ecosystem development: Leveraging Microsoft’s global ecosystem to position prebuilt and custom solutions that can address Emirates NBD’s sustainability initiatives.
- Process improvements: Jointly identifying sustainability use cases and process improvement opportunities through a series of envisioning workshops and awareness sessions.
Abdulla Qassem, Group Chief Operating Officer, Emirates NBD, said:”Emirates NBD is rapidly embracing cutting-edge innovation to reaffirm its commitment to sustainability. With our continued collaboration with Microsoft, we intend to set a global benchmark for technology-driven environmental responsibility while also transforming our solutions across all customer segments. We anticipate a growing reputation amongst not only customers, but also investors and stakeholders who share our values.”
Also commenting on the announcement, Samer Abu-Ltaif, Corporate VP and President of Microsoft Central and Eastern Europe, Middle East and Africa (CEMA) said:“Environmental sustainability requires collective action, and collaboration is the cornerstone of that action. Our ongoing collaboration with Emirates NBD continues to unlock new opportunities for a more sustainable future across the MENAT region and the industry at large. With our advanced technology solutions, we are proud to empower Emirates NBD to drive even greater impact and advance its climate goals, setting a precedent for technology-powered sustainability efforts worldwide. Together, we are demonstrating how shared values and a commitment to sustainability can make a lasting impact on our planet.”