MUMBAI : HSBC India on Thursday launched India’s first credit card made from recycled PVC plastic.
This roll-out is part of a new programme launched by HSBC Group to introduce sustainable cards across all its global locations with a view to supporting its global commitments to sustainability and a net-zero future, it said.
Made from 85% recycled plastic, the new cards will help save 3.18 gm of plastic waste per card in addition to helping lower overall carbon emission.
Raghujit Narula, head (wealth and personal banking) at HSBC India said that the move towards recycled credit cards underscores HSBC’s alignment with the group’s global ambitions towards achieving net-zero in its own operations by 2030.
“Creating a positive impact on the environment is an imperative and we will look at a further integration of sustainability-led aspects across our business processes.
As a responsible corporate citizen, we are committed to playing a role in fighting climate change and this move towards recycled plastic credit cards is just one amongst many initiatives that we are driving,” said Narula.
The cards have been introduced in partnership with global cards manufacturer IDEMIA and will help gradually eliminate single-use PVC plastic.
This initiative has initially been rolled out for HSBC Cashback Credit Card and will be gradually extended to all card variants, it said.
Amit Kakatikar, senior vice-president (financial institutions, India) at IDEMIA said, “Sustainable payment cards are part of IDEMIA’s Greenpay portfolio and demonstrate how
innovation can be a positive force for society and the environment; and is a positive affirmation of our commitment to rethinking
how to design, use, and reuse plastic in the payments industry, while offering our customers cutting-edge solutions.”