Dubai, UAE: Commercial Bank International (CBI), a leading UAE bank, has announced its investment in Boomitra, a pioneering carbon project developer and Earthshot Prize winner. The investment will enhance 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 artificial intelligence 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.

This investment underscores CBI’s commitment to sustainability, focusing on impactful and technology-driven initiatives that benefit local communities and align with the UAE government's vision to create more sustainable and climate-smart agricultural systems.

Giovanni Everduin, Chief Strategy and Innovation Officer at CBI, commented, "Our investment in Boomitra reflects our commitment to embracing innovative solutions. The fact that Boomitra was included in TIME magazine’s Top 100 Most Influential Companies list for 2024 reflects the level of innovation they bring to the region. We are confident that this partnership will advance sustainable farming practices and contribute to securing the long-term livelihoods of farmers across the region. We recognise that collaboration and open dialogue are critical to leveraging the transformative potential of AI in addressing climate challenges. Our commitment to positively impact our country, community and environment drives us to support groundbreaking technologies that accelerate progress towards a sustainable future.”

Aadith Moorthy, CEO of Boomitra, said, "We are thrilled to partner with CBI, a bank that shares our vision of harnessing innovation to create meaningful change. This investment will enable us to expand our reach and impact, bringing regenerative agriculture practices to more communities in the Global South, and supporting farmers in their efforts to enhance soil health and climate resilience."

The investment comes at a pivotal time as the UAE is actively addressing environmental challenges such as water scarcity and land degradation. With up to 70% of land in the Middle East and North Africa affected by degradation, the partnership with Boomitra is instrumental in supporting ongoing efforts to utilise cutting-edge technology to restore soil health. By contributing to these pivotal initiatives, CBI reinforces its contribution to advancing sustainable solutions that further position UAE as a global leader in technological innovation and support the nation’s proactive approach to environmental stewardship and resilience.

About Commercial Bank International (CBI)

Commercial Bank International (CBI) is a leading UAE bank dedicated to empowering businesses and individuals through innovative, personalised, and growth-focused banking solutions. Established in 1991 and headquartered in Dubai, CBI offers a diverse range of services, including corporate, retail, and Islamic banking solutions. Leveraging its innovative capabilities, CBI provides bespoke banking services to help clients achieve their ambitions. CBI is listed on the Abu Dhabi Securities Exchange (ADX) and is regulated by the Central Bank of the UAE and the Securities and Commodities Authority (SCA).

In recognition of its client-centric culture and dedication to driving innovation in the banking sector, CBI has received numerous awards, including CEO of the Year (Middle East Banking) and Most Innovative Bank of the Year at the Middle East Banking AI & Analytics Awards. The bank has also been honoured for outstanding innovation in technology and financial services, winning multiple Stevie Awards and the Gold Stevie Award for Innovation in Technology Development (Financial Services).

The bank is majority-owned by UAE shareholders, and its Board of Directors benefits from strong representation of UAE nationals.

For further information, please contact CBI@edelmansmithfield.com.

About Boomitra

Boomitra is a leading international soil carbon project developer powered by AI and remote sensing technology. Alongside an ecosystem of international partners, Boomitra equips every farmer and rancher to increase their soil carbon and yields, while securing additional income through carbon credits. A 2023 Earthshot prize winner, Boomitra’s projects benefit over 150,000 farmers on four continents, covering more than 5 million acres. With 100 global partners, Boomitra has removed 10 million tonnes of CO2 from the atmosphere.

To learn more visit: www.boomitra.com