BBVA issues 7.3 million recycled cards in 2021

26 / 04 / 2021

By Marwa Nassar - -

BBVA planned to provide up to 7.3 million recycled cards in 2021 amid schemes to make all card of recycled materials by 2023.

BBVA will be offering recycled cards in all countries where it operates prior to the end of 2021.

By 2023, the bank will no longer issue other types of cards, in line with its commitment to the responsible consumption of recycled materials, and recycling.

BBVA was the first bank in Europe to launch a card made of recycled polyvinyl chloride (PVC) plastic, which comes from waste products from various industries like packaging, printing, the automotive industry and windows. It is committed to continue improving this product until 100 percent of the card is made of recycled materials.

The bank currently has 90 million cards in circulation and its goal is for all cards it issues to be made of recycled materials by 2023.

At the same time, withthe issuing of 7.3 million recycled cards in 2021, BBVA hopes to boost the circular economy —based on the four Rs: reduce, reuse, recycle and recover— to avoid issuing 23.2 tons of new plastic on the market.

In the manufacturing process alone, this will reduce CO2 emissions by 51.1 tons per year.

After studying various materials, BBVA has opted to manufacture its cards with recycled PVC, which is the most sustainable option. It lasts as long as normal PVC. For this reason, the use of other alternative environmentally friendly materials was ruled out, as they do not last as long.

Apart from requiring additional effort in the recycling process, they would also mean increasing the number of cards issued.

Similarly, recycled PVC can be used together with standard PVC. It is important to point out that the bank is not using new resources to produce this material. Instead, it is fomenting the recycling of plastic, avoiding the generation of new waste.

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.