CNN Central News & Network–ITDC India Epress/ITDC News Bhopal: In a rapidly changing world, we seldom take a moment to reflect on our payment methods. Simply swiping cards has become the norm. But have you ever considered the huge environmental impact of this seemingly harmless plastic item? As we are becoming cognizant of threats confronting our planet, the sustainability of plastic-based payment methods is becoming increasingly scrutinised. Every year, trillions of cards are created, used for a short time, and then discarded. The cards that are discarded often end up in the garbage or are burnt to create the growing problem of plastic waste.
It’s indisputable that traditional plastic payment cards made of polyvinyl chloride (PVC) pose a significant environmental threat. While they are extremely durable, their toughness comes at a terrible cost when carelessly discarded, as they release toxic chemicals that damage ecosystems over time. Therefore, an essential question emerges: Are our payment methods flexible enough to adapt to our global commitment to environmental preservation?
For years, this question hung in the air, unanswered. But now, Giesecke+Devrient (G+D), a titan in payment solutions and technology, has embarked on a groundbreaking mission—not just to change how we pay but to overhaul the materials we use completely. With revolutionary innovations like cards made from ocean plastic, plant-based biodegradable options, and an audacious goal for net-zero emissions, G+D is tackling the monumental task of reshaping the payment industry into a sustainable powerhouse. Their message is unmistakable—plastic payments may not completely disappear, but the process of creating and disposing of them is poised for a significant transformation.
A Journey Towards Net Zero: G+D’s Commitment
G+D’s vision centres around its commitment to sustainability. G+D has set itself a goal of reaching net-zero carbon emissions by 2040. This ambitious target involves cutting greenhouse gas emissions across its business, from green energy usage and production processes to actively minimising them. The company is taking concrete climate action alongside its mission to transform payments. By actively minimising emissions rather than offsetting them, this move signals its intent of leading by example and moving payment industry practices in this direction.