We're gradually introducing new rPVC credit and debit cards across all locations. The recently-launched HSBC EveryMile Credit Card is the bank's first credit card in Hong Kong made from 85% recycled plastic.
To be as sustainable as possible, the recycled plastic cards will only be issued when old cards naturally expire or need to be replaced.
About 6 billion plastic payment cards are produced around the world every year. They're mostly made from polyvinyl chloride acetate (PVC). This produces a large amount of industrial waste.
Recycled PVC plastic (rPVC) has the same durability as the PVC product. But importantly, we’re using material that would otherwise be incinerated or sent to landfill. These cards will also have the same expiry date (5 years).
Switching to rPVC cards will reduce CO2 emissions by 161 tonnes a year and reduce plastic waste by 73 tonnes per year, according to global cards manufacturer IDEMIA. That's the weight of over 40 cars [@sustainability-idemia-rPVCcards] given the current volume of cards HSBC issues per year, which is about 23 million.
We can all make an effort to change our habits to help the environment - from using less plastic to saving energy and reducing waste.
Small changes add up – not only to benefit the environment, but to save you money too. HSBC has set out on an ambitious sustainability plan to prioritise financing and investment that supports the transition to a net zero global economy. This is part of our broader commitment to environmental, social and governance (ESG) issues.