First in the Pacific- Bank to issue recycled plastic bank cards
20 May, 2022, 6:00 pm
ANZ is the first bank in the Pacific to issue recycled Visa debit cards which will be produced using a minimum of 70 per cent recycled plastic. ANZ acting regional executive for the Pacific, Ravendran Achari said consumers were increasingly moving away from ‘first-use’ plastic, including shopping bags, water bottles and straws.
“Now, as customer cards expire or new ANZ customers receive their cards, we will begin issuing cards made from recycled plastic,” he said.
“We have already started this process and while there’s no change to the look and feel or security aspects of these cards, this is an important step in ANZ’s journey towards a more sustainable future.
“By switching to recycled plastic cards, we are lowering our impact on the environment.
“Studies undertaken by the supplier of the recycled plastic reveal a 44 – 60 per cent reduction in the carbon footprint, compared to ‘first use’ plastic.”
Mr Achari said they would continue to look for ways to make their cards, and other parts of the business, more sustainable. He said they hoped to increase the recycled content further to make the cards even more eco-friendly.
In 2019 it was stated that ANZ signed up to the Principles for Responsible Banking, leading the way to a future in which the banking community made a beneficial contribution to people and the planet that society expects.
“With around 270,000 ANZ cards in circulation across the Pacific, this is a great example of how the banking sector can help support customers to live more sustainably,” Mr Achari said.
“This move comes at a time when there’s been a strong shift towards cashless payments. COVID-19 has been a tipping point for many customers when it comes to contactless payments.
“ANZ will continue to make investments in digital banking because we know this plays an important part in financial inclusion and giving Pacific people access to the global banking system.”