UK-based card manufacturer allpay cards pushes forward with its sustainability initiative for lowering the environmental impact of card production. The adoption of recycled PVC, for both Mastercard and Visa payment cards, represents a notable change for the business, as it reduces the plastic waste and supports the circular economy, without downgrading the quality of the products.

The benefits of using recycled PVC in card manufacturing relate to the reduction of greenhouse gas emissions and energy consumption, as well as the substantial decrease of CO2 emissions. The business estimates that approximately two kilograms of CO2 will be saved for every kilogram of recycled PVC used. Furthermore, natural resources are preserved with the reduction of virgin PVC used, therefore minimising PVC disposal landfill volumes.

Recycled PVC can also be used multiple times, without affecting the quality of performance of the product. allpay cards’ officials articulated their intention to reduce the company’s overall ecological footprint, while maintaining the value of their solutions. The company also provides an array of sustainable offerings, including 100% biodegradable letters and envelopes, compostable, recyclable, FSC accredited paper for packaging solutions, while reducing water and energy consumption during production.

Moreover, allpay cards sustains an end-to-end recycling initiative, regrinding expired and waste cards, and plastic skeletons, the materials then being used in the construction industry. The banking card industry moves towards implementing more environmentally friendly technologies and introducing alternative materials, switching from first-use plastic cards to cards made from plastic waste. French-based multinational company Thales Group also delivers eco-friendly cards and services worldwide, providing banks with card recycling solutions and tools that enable a sustainable card offering, counteracting claims of greenwashing.

ESG investing As per ABI Research Q1 2022 - Cards shipment’s insight, 3.5 billion banking cards are produced every year and their carbon footprint equals 288.000 passengers flying from New York to Sydney. A global approach needs to be implemented for a life cycle strategy for eco-friendly cards. Financial companies need to select the appropriate technology, processes, and products to reduce the adverse effects on the environment, including energy consumption, carbon footprint, and plastic waste.

Environmental, social, and governance (ESG) investing represents a company’s behavioural standards and is used by stakeholders to screen potential investments. Based on the environmental criteria, companies are analysed on safeguarding the environment, including policies that address climate change. Criteria are set through the analysis of relevant issues in sectors, industries, and companies, with most investors setting their own priorities.

Some of the environmental criteria include waste reduction, use of renewable energy sources, lowering greenhouse gas emissions and CO2 footprint, and limiting pollutants and chemicals. Currently, as ESG practices gain more recognition, investment firms are focusing on their performance. Financial companies, such as JPMorgan Chase and Wells Fargo, annually publish reports reviewing their ESG approaches and their results.

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