HSBC Launches India’s First Credit Card Made From Recycled Plastic
The new rPVC cards are made from 85 percent recycled plastic waste as Part of Net Zero Plan, which will save nearly 3.18gm of plastic waste per car
HSBC has launched India’s first credit card made from recycled PVC plastic (rPVC). The launch is a step toward sustainability and a net-zero future. The cards are allotted in cooperation with IDEMIA, which is a global cards manufacturer. As of now, the creative idea is confined to HSBC Cashback Credit Card but soon it will be gradually stretched to all card variants.
The new rPVC cards are made from 85 percent recycled plastic waste, which will help save 3.18 gms of plastic waste per card. The main objective is to achieve sustainability while prompting the bank’s long-term net-zero plan.
Raghujit Narula, head-wealth and personal banking at HSBC India, said;
We will look at further integration of sustainability-led aspects across our business processes. This move towards recycled plastic credit cards is just one amongst many initiatives that we are driving.
The venture has backed banks from other parts of the world to issue green cards. Amit Kakatikar, SVP, Financial Institutions – India, IDEMIA, said that their commitment to design, use, and reuse plastic has progressed in the payment industry while offering the customers with front-line clarifications.
The card is not only efficient in minimalizing plastic waste but it will also help in lowering the overall carbon emission. The foreign bank has committed to achieving net-zero operations by 2030.
Via: The Times of India