Bank of America has revealed it will convert all of its credit and debit cards to 80% recycled plastic from 2023 onwards.
Bank of America currently issues 54 million consumers and commercial cards on a yearly basis and has estimated that its move to recycled plastic will help to cut more than 235 tons of single-use plastics use, based on its current annual card issuance.
Furthermore, the firm expects that switching to recycled plastic for its credit and debit card portfolio will cut greenhouse gas emissions, water usage and energy.
Citi has also revealed that it plans to introduce Recycled PVC across its corporate card portfolio. This rollout will begin in Europe, Middle East and Africa before being distributed worldwide.
Each rPVC card will be made with 85% recycled industrial waste per finished card and will deliver a reduction of 36% of carbon emissions in comparison to a standard PVC card.
Bank of America head of consumer and small products Mary Hines Droesch said, “Shifting to a recycled card product is another step toward a more sustainable solution which will help foster a circular economy. We are committed to incorporating sustainability throughout our business.”
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