BBVA announced on Wednesday it will be offering recycled cards in all countries where it operates prior to the end of 2021. The banking group also revealed that by 2023, it will no longer issue other types of cards, in line with its commitment to the responsible consumption of recycled materials, and recycling.
“Recycled cards are manufactured in several layers of different materials, with 86 percent polyvinyl chloride (PVC) made from other plastics. This percentage is currently the highest level of recycling in the global financial sector, but the commitment is to reach 100 percent recycled materials as of May 2021. In addition, as part of the framework of BBVA’s relations with its suppliers, the bank will open an internal line of R+D to develop sustainable solutions with them.”
BBVA further reported there will be a transition period in order to manufacture cards with the desired level of 100 percent from recycled materials. The first cards will be issued with 86 percent recycled materials. The reason for this is that the new material must be sized, and this involves a process that will conclude at the end of 2021. The bank added:
“Spain, Portugal, Mexico, Peru, the U.S. and Argentina already have recycled cards in varying degrees. Their introduction in Colombia is expected after the summer, and the process will be gradually completed in the rest of the countries. As the cards are renewed, they will be replaced with these recycled cards.”