CBI Boosts Regenerative Agriculture with Investment in Boomitra

Commercial Bank International (CBI), a prominent bank in the UAE, has invested in Boomitra, a leading developer in the realm of carbon projects and a winner of the prestigious Earthshot Prize. This strategic investment aims to bolster regenerative agriculture initiatives spanning the Middle East, Africa, and Asia. By leveraging Boomitra's innovative AI-enabled solutions and satellite data to quantify soil carbon sequestration, CBI's investment intends to fortify climate resilience and sustainability while offering financial advantages to farmers through carbon credits. CBI’s strategic partnership aligns with the UAE's overarching governmental goals to foster tech-driven and sustainable agricultural systems, thereby enhancing the socio-economic uplifts and environmental stewardships in local communities. Giovanni Everduin, CBI’s Chief Strategy and Innovation Officer, emphasizes that this collaboration highlights their resolve to adopt pioneering solutions that secure the livelihood of farmers by innovating sustainable farming methodologies while addressing climate challenges. Furthermore, the collaboration comes at a crucial juncture for the UAE, which faces environmental concerns such as water scarcity and land degradation. Boomitra’s technology plays an instrumental role in rejuvenating soil health, which is pivotal in supporting sustainable advancement and reinforcing UAE’s status as a frontrunner in technological innovation in environmental solutions. Established in 1991 with headquarters in Dubai, CBI offers expansive banking services including corporate, retail, and Islamic banking. Boomitra aligns with the global mission of facilitating agricultural productivity and sustainability by enhancing soil carbon on a large scale. This initiative catalyzes positive advancements in combating CO2 emissions, supported by Boomitra and CBI's shared vision of harnessing technological innovation for impactful changes in agricultural practices across the Global South.