A study by Mastercard across 24 countries worldwide unveiled that 58% of the customers are cautious of their behavioural impact on the environment and 85% stated that they are willing to take actions to combat the sustainability and environmental issues in 2021. Climate change caused due to global warming is an alarming concern that needs the world’s attention. There is a growing trend in conscious consumption where people are more mindful of their purchases and the impact it has on the environment.
The Mastercard study also revealed that around 62% of the respondents emphasized the importance for companies to adopt more eco-friendly initiatives. Moreover, people want to habituate themselves to follow more environment-friendly practices. Following consumer’s mindful behaviour, companies are considering sustainable initiatives to adapt to their customer’s needs as well as have a positive impact on the planet.
Eco-Friendly Materials Over PVC
The question “If the use of plastics can be completely eradicated?” is a debatable one. But the use of plastics can be reduced to a considerable extent. PVC (Poly Vinyl Chloride) is used across multiple products and various industries. One such product is the payment card which is made up of multiple layers of PVC. About thousands of tonnes of PVC is consumed annually to manufacture banking cards. The hazard of using PVC is well-known as it not biodegradable and has an indefinite impact on the environment. This calls for a need to switch from PVC materials to more environment-friendly alternatives.
Following the mantra of Reduce, Reuse and Recycle; card manufacturers have come up with sustainable approaches to reduce the use of PVC while producing cards. These eco-friendly cards are made from bio-sourced materials, plastics reclaimed from the ocean, recycled plastics, and so forth. These initiatives help in making a positive impact by reducing carbon footprint and plastic waste.
Enhance Your Sustainability Practices
In line with these sustainability initiatives, since 2019, over 240 banks have signed up for the Principles for Responsible Banking initiative, as per UN Environment Programme Finance Initiative. With eco-friendly cards, help your consumers move towards a more sustainable environment and contribute to the future of a green and clean planet.
