A day before the 28th session of the Conference of the Parties (COP28), the event’s host the United Arab Emirates announced the issuance of a new AED 500 banknote made of polymer. While ensuring the environmental safety, the Gulf country has used braille to help blind consumers in recognising the bill.

“This issuance of the new AED 500 banknote reflects the vision of the wise leadership for a sustainable future and embodies the distinguished record of achievements and development aspirations of the UAE in various fields,” Central Bank of UAE Governor Khaled Mohamed Balama said on Wednesday.

The new 500 Dirham banknote is part of the third issuance of the national currency project, following the banknotes of AED 1000 and AED 50 denominations.

The development comes as the United Nations Climate Change Conference began in Dubai on Thursday, with countries worst affected by climate change presenting their case in front of the world. On the first day of the 13-day moot, the UAE pledged $100 million to the Loss and Damage Fund for vulnerable countries that have been hit hard by climate disasters.

The banknote has a theme colour of blue, with intricate designs, resembling the bill of the same denomination currently in circulation making it easy for identification for the public.

“The new AED 500 banknote highlights the UAE’s sustainable developmental including culture and tourism landmarks and unique models of sustainability,” according to a central bank statement.

The front side includes an image of the architecture of the Terra Sustainability Pavilion in Expo City Dubai and the reverse side highlights the Museum of the Future in Dubai.

“Also prominent on the reverse side of the polymer banknote is an image of iconic landmarks, namely Emirates Towers, and the Burj Khalifa on the right side, which is the world’s tallest building standing at 828 meters high with more than 160 floors, is a beacon of sustainability as it derives most of its power from solar.”

According to an International Monetary Fund blog, plastic film notes help address security issues and offer longevity as countries worry about the environmental impact of currency notes.

On the same wavelength, the bank said that the use of polymer material makes the new banknote two or more times more durable than traditional banknotes. “This material, fully recyclable, significantly reduces its environmental impact.”

Moreover, the AED 500 banknote incorporates multicoloured security chip technology known as Kinegram colors. By such use of technology, the bank claimed that the Gulf country becomes the first country in the Middle East to utilise the largest foil strip of this kind on banknotes.

The central bank has included prominent symbols in braille to help blind and visually impaired consumers in recognising the banknote and determining its value. The new banknote enters into circulation on November 30, 2023.

As the country unites the world in Dubai for the moot, Balama said: “We also affirm our commitment to ensuring an active role in the development journey by adopting the best practices and technologies in the banknote printing industry, supporting the competitiveness of the financial sector, and aligning with sustainable growth trends.”