Last July, Currency News™ reported that BioBanknote, the developer of solutions for repurposing end of life banknotes, and the Banco Central de Reserva del Perú (BRCP) were conducting a composting test with the waste from banknotes withdrawn from circulation. This article provides the results of that trial.

The problems with plastic are widely known – but not well understood. The truth is, sometimes plastic is necessary. And when it comes to banknotes, polymer substrate is the green choice.

Biobanknote has spent 12 years focusing on the protection of the environment, building expert knowledge about composting banknotes, and offers professional advisory services to central banks and producers helping them set banknote specification parameters, measurement methodologies, controls and evaluations so that the new banknotes can be more sustainable throughout the cash cycle.

The European Central Bank (ECB) has issued the findings of its Product Environment Footprint (PEF) study, which focuses on the creation and life cycle of banknotes through to their disposal when they become unfit to circulate.

Earlier this year Giesecke+Devrient outlined a solution for banknote waste which is ‘straightforward, flexible and scalable’ (see CN July 2023). After having introduced the concept of Banknote Fibre Extraction (BFE) at the CT Symposium, the next development phase has taken place.

The International Association of Currency Affairs (IACA) held a webinar recently to discuss how sustainability is, and can be, incorporated into tenders by central banks. Purchasing power is, of course, a powerful lever for achieving policy goals.

The UK’s Cash Industry Environmental Charter Group (CIEC), which consists of more than 30 organisations active in cash working together to establish best practice and drive change, has reported on its progress.

The London Climate Technology Show, which took place end September, was full of start-ups and other more established companies offering solutions to measure your environmental footprint, to offset your carbon, to sequester your carbon in the soil/ocean/trees etc. etc. etc.

The production of a million banknotes (or one shift of an intaglio printing line) produces 100 kg of intaglio ‘sludge’. Sludge is frequently sent to landfill because of its contamination in the process used to extract it from the printing process.

Biobanknote, developer of solutions for repurposing end of life banknotes and the Banco Central de Reserva del Perú have recently conducted a composting test with the waste from banknotes withdrawn from circulation at the Control Ambiental plant.