Cash & Payments Sustainability Forum
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Sustainability is a hot topic. Even if COP 27 was not about to start in Egypt, environmental sustainability has been a major theme this year. But what does it mean for cashMoney in physical form such as banknotes and coins. More and the cash industry? The MintAn industrial facility manufacturing coins. More Directors Working Group (Europe) has commissioned a payments LCA which will be ready in October 2023. The ECB is expected to publish its research into the environmental footprint of banknotes.
In the meantime, central banks and cash stakeholders need to continue their work to reduce the environmental impact of cash. The Cash & Payments Sustainability Forum in Edinburgh, starting on 14th November, aims to help all stakeholders with that task.
The big topics around environmental sustainability are,
- How to do Environment, Social and Governance (ESG) well? To avoid greenwashing, to measure the right things, to drive real changeThis is the action by which certain banknotes and/or coins are exchanged for the same amount in banknotes/coins of a different face value, or unit value. See Exchange. More
- How to include sustainability in tenders effectively and meaningfully
- How to dispose of unfit banknotes in an environmentally sensitive and sensible way
- How to make changes that reduce energy, fossil fuel and water use? How to use fewer resources, to avoid creating waste and how to recycle the trash that is created
- How to get stakeholders throughout the cash cycleRepresents the various stages of the lifecycle of cash, from issuance by the central bank, circulation in the economy, to destruction by the central bank. More to work together
All this and more will be covered at the Forum. The agenda for the Forum can be found here.
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