The sustainability and innovation-focused collaboration between Emirates NBD and Microsoft will be based on four pillars: measurement, data conversion, ecosystem development and process improvements
Emirates NBD banking group has signed a memorandum of understanding (MoU) to enter a sustainability and innovation-focused partnership with Microsoft.
Through this collaboration, both parties aim to propel their sustainability goals through knowledge sharing and identifying opportunities for collaborative frameworks and the development of future commitments.
The partnership focuses on the following aspects:
- Carbon impact measurement: Emirates NBD can use Microsoft Emissions Impact Dashboard as well as Microsoft’s Cloud for Sustainability for insights into its corporate carbon emissions.
- Converting data into actionable insights: for this purpose, the partners plan to utilize Microsoft’s advanced analytics and machine learning tools and jointly identify opportunities to advance collective sustainability goals.
- Ecosystem development: Microsoft’s global ecosystem of prebuilt and custom solutions can address Emirates NBD’s sustainability initiatives.
- Improving processes: the parties may jointly identify sustainability use cases and improvement opportunities through a series of envisioning workshops and awareness sessions.
Microsoft Emissions Impact Dashboard helps customers calculate their cloud footprint and track direct and indirect greenhouse gas emissions related to their cloud usage using Power BI template apps and validated carbon accounting.
Meanwhile, Microsoft’s Cloud for Sustainability is a management solution that integrates data intelligence, reporting, disclosure, automated insights, etc. The tool helps businesses to identify opportunities to replace tools, systems, or activities with more efficient alternatives to reduce their footprint and drive business value. It also enables companies to minimize the impact of their operational systems and processes.
The new initiative is based on successful previous collaboration cases. For instance, in 2022, Emirates NBD in partnership with the Dubai International Financial Centre (DIFC) Fintech Hive and Microsoft launched a global accelerator programme for metaverse startups to enhance customer experience.