Bank of Ireland is launching bio-sourced debit and credit cards across its entire card portfolio, catering to both personal and business customers. These innovative cards are crafted from 84% renewable materials, such as field corn, and offer a significantly shorter decomposition time—just six months—compared to traditional plastic cards, which can take up to 400 years to break down.
The transition to bio-sourced cards is projected to save the bank 17 tonnes of CO2 emissions and reduce plastic waste by 4.48 tonnes annually, equivalent to over 160,000 500ml plastic bottles. This initiative is part of a broader goal to complete the rollout of bio-sourced cards by 2026.
Additionally, the bank is enhancing the design of these cards, incorporating flat-printed numbers in a larger font and a notch feature to assist users in inserting the cards correctly into ATMs or card machines. Bio-sourced cards will be issued to all new customers, as well as to existing customers whose cards are expiring or have been lost, stolen, or damaged.
Bank of Ireland initially introduced bio-sourced debit cards to third-level students in September 2020. Eamonn Hughes, Chief Sustainability & Investor Relations Officer at Bank of Ireland Group, stated, "The environmental credentials of these bio-sourced cards are exceptionally strong. With 60,000 already in use by students, we are now poised to expand this initiative across our entire card business in Ireland and the UK."
For those interested in sustainability, Finextra has announced its upcoming fifth Sustainable Finance Live conference and hackathon scheduled for November 29. More details and registration can be found on the event page here.