In December 2016, 195 countries signed the Paris Agreement within the United Nations Framework Convention on Climate Change which aims to keep the increase in global average temperature to well below 2 °C (3.6 °F) above pre-industrial levels; and to pursue efforts to limit the increase to 1.5 °C (2.7 °F), recognizing that this would substantially reduce the risks and impacts of climate This 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..
In September 2019, a Climate Summit gathered world leaders, the private sector and civil society to support the multilateral process and to increase and accelerate climate action and ambition. The Summit focused on key sectors where action can make the most difference—heavy industry, nature-based solutions, cities, energy, resilience, and climate finance. In closing the Summit, the Secretary-General said “You have delivered a boost in momentum, cooperation and ambition. But we have a long way to go.”
In October 2018, the Dutch Central Bank performed a Life Cycle Assessment of the Dutch cash cycle and concluded that the Global Warming Potential (GWP) of the Money in physical form such as banknotes and coins. A transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. system amounts to 17 million kg of CO2 equivalents, which represents 0.009% of the GWP of the Netherlands. The three main identified contributors in the Represents the various stages of the lifecycle of cash, from issuance by the central bank, circulation in the economy, to destruction by the central bank. were the production of coins, the transportation and the operation of ATMs.
Contributions of cash payment chain components to environmental impactSource: Hanegraaf R, Jonker N, Mandley S. and Miedema J (2018); Life Cycle Assessment of Cash Payments; DNB Working See Banknote paper. n°610
CCL a manufacturer of polymer which is used a A banknote (or ‘bill’ as it is often referred to in the US) is a type of negotiable promissory note, issued by a bank or other licensed authority, payable to the bearer on demand. The physical media or support on which the image is printed, such as paper, polymer or hybrid, etc. in many countries has opend a new The process of converting waste materials into new materials and objects. Banknotes are increasingly recycled after destruction, and the waste is often used for landfills, isolation material etc. Polymer notes are melted into pellets which are recycled into new products. Recycling is often incorrectly used instead of recirculation. See Recirculation. plant in Mexico. The new plant will be recycling polymer banknotes at the end of their useful life, transforming old notes into polypropylene pellets, which will then find their way into a wide range of new plastic products, including garden furniture, and building materials.
In August, CCL Industries became an official partner of the Global Commitment to the New Plastics Economy, led by the Ellen MacArthur Foundation (which aims to accelerate the transition to a circular economy by designing out waste and pollution, keeping products and materials in use, and regenerating natural systems).
Diebold-Nixdorf has published a guide to assist financial institutions to adhere to the Principles for Responsible Banking (PRB), launched under the umbrella of the United Nations Environment Programme Finance Initiative. By July 2020, the PRB have been signed by over 180 banks globally.
The paper, Sustainable Banking: A Guide to Taking Action recommends five action plans to reduce the environmental footprint of bank branches and ATMs.
Prosegur Cash has launched a comprehensive sustainability plan with the aim of reducing the environmental impact of its activities. The company aims to achieve a 1.5% reduction in the direct CO2 emissions of its armoured fleet by 2020. To do so, the main levers are the hybridisation and electrification of their vehicles.
In August 2020, Prosegur added the first fully electric armoured Cash-in-Transit vehicle to its fleet in Germany. This is not only the first Cash-in-Transit vehicle in Germany, but worldwide. In Spain, the company has unveiled 12 new hybrid armoured trucks, which will operate in Madrid and Barcelona. The new vehicles will reduce CO2 emissions into the atmosphere by nearly 25% and save 23% on fuel consumption and 10% on maintenance costs.