Multinational finance company MasterCard has begun a search for sustainable alternatives to the billions of expired plastic credit and debit cards that end up in landfill each year.
According to Circular Online, a survey conducted by MasterCard found that three-quarters of respondents felt concerned about the environment and that companies should be taking more action to reduce their impact on the environment.
Now the company has launched a directory of sustainable materials for card products, aiming to make a sustainable choice the preferable option for all financial institutions around the world, so customers can choose eco-friendly cards.
Currently, MasterCard’s sustainable cards have been made available to consumers in more than a dozen countries, with over 60 financial institutions. The cards have been made with approved materials that are recyclable, chlorine-free, and degradable.
The directory will provide a resource for banks and payment card providers to work with card manufacturers to enhance their own sustainability initiatives.
Every year, over six billion payment cards are manufactured, usually from PVC, and cards are replaced on an average of every three to four years.
MasterCard says their goal is simple – to help banks provide eco-friendly alternatives to their customers.
“This way, everyone benefits – it’s better for the environment, it’s better for business and it meets evolving consumer needs,” says Ajay Bhalla, president of Cyber & Intelligence, Mastercard.
“We’re excited to see our efforts gaining traction in so many parts of the world and hope more organisations will join us, as we collectively use our power for good to address these urgent environmental challenges.”
There are many ways you can reduce your plastic use, such as environmentally friendly straws available in the UK.