Giesecke+Devrient (G+D) pledges to replace all virgin plastic in its payment card products by 2030 at the latest to further support consumers and banks to fulfil their own sustainability aspirations. Being the first in the payment industry to make such a commitment, G+D expects the industry to follow suit.
G+D will replace virgin plastic with recycled, industrial compostable or biodegradable materials in payment cards across its portfolio. Beyond its direct positive impact through sustainable material choices, a payment card without virgin plastic is also a social statement and thus a powerful symbol of change. G+D is convinced that the whole payment card industry will follow its example, which will completely eliminate virgin plastic from more than three billion payment cards being produced annually worldwide.
Today, G+D is already supporting banks and their customers in their sustainability journeys with an eco-focused card product line. This is the only one in the industry where the relevant card body layers are made of 100% sustainable materials, alongside eco-optimized card issuance and a growing open network of eco-innovative partners. To take a step forward, the company will continue to explore innovative and sustainable materials, as well as further develop customized end-of-life card programs for its clients. All of these activities are part of G+D’s ESG (Environment, Social, Governance) strategy, which aims to make the company’s entire offering greener and more sustainable.
“Consumers today are making more conscious decisions than ever before and are increasingly aware of the impact their actions have on the environment. Banks are therefore looking for payment solutions that enable them to address the need for convenience and reliability, but that also allow them to meet their customers’ expectations around sustainability,” explains Gabrielle Bugat, Member of the Group Management Team of G+D, heading the Card & Digital Payments business. “By eliminating virgin plastic from our payment card products, we are taking an important step in helping them to do so. With G+D, banks have a reliable partner at their side that protects their environmental credibility.”