HCM City (VNA) – HSBC Bank Vietnam has rolled out Vietnam’s first card madefrom recycled Polyvinyl chloride (rPVC) plastic as part of a programme launchedby the HSBC Group to introduce sustainable cards across all its globallocations.
The moveunderpins the bank’s strategy to reduce its carbon emissions and achieve netzero in its operations and supply chain by 2030 or sooner. Its ambition is eliminatingsingle-use PVC plastic by the end of 2026, in favour of rPVC.
The rolloutstarts in January 2022 with its Premier MasterCard Credit, Premier Debit andClassic Debit cards. It will then extend across further card products from May2022 tentatively.
The firstrPVC cards will be issued to customers who requires new or replacement cards.To preserve the life of their existing cards for as long as possible, recycledplastic cards will be issued as their old cards naturally expire.
The newcards are made from 85 percent recycled plastics originating from industrialwaste. HSBC’s move to rPVC cards is expected help reduce CO2 emissions bynearly half a tonne a year, and save 0.2 tonne of plastic per year.
Collectively,HSBC Vietnam together with other markets where the HSBC Group operates can helpreduce CO2 emissions by 161 tonnes a year and reduce 73 tonnes of plastic wasteper year globally.
The switchis a first step in a gradual transition to issue cards made from sustainablematerials, and HSBC will continue to evaluate other alternative materials too.
“Replacingour cards will be another step as to help the bank and our customers make apositive impact on the environment,” said Pramoth Rajendran, Head of Wealth andPersonal Banking at HSBC Vietnam. “There is no doubt that environment is ofprime importance to Vietnam. The country is too familiar with the threats fromclimate change.”
“The movetowards recycled cards enables HSBC and our customers to join hands togetherfor a greener Vietnam, supporting the country’s climate action commitment atthe COP26 which is reaching its net-zero carbon emission target by 2050,” headded.
Previously,to help retail customers reduce carbon emissions and contribute to shaping azero-carbon future for the world, HSBC has enhanced and expanded its range ofgreen loan products in Vietnam, offering preferential loans on greenconstruction and rooftop solar energy, and more green lending to come in the nearfuture./.
The moveunderpins the bank’s strategy to reduce its carbon emissions and achieve netzero in its operations and supply chain by 2030 or sooner. Its ambition is eliminatingsingle-use PVC plastic by the end of 2026, in favour of rPVC.
The rolloutstarts in January 2022 with its Premier MasterCard Credit, Premier Debit andClassic Debit cards. It will then extend across further card products from May2022 tentatively.
The firstrPVC cards will be issued to customers who requires new or replacement cards.To preserve the life of their existing cards for as long as possible, recycledplastic cards will be issued as their old cards naturally expire.
The newcards are made from 85 percent recycled plastics originating from industrialwaste. HSBC’s move to rPVC cards is expected help reduce CO2 emissions bynearly half a tonne a year, and save 0.2 tonne of plastic per year.
Collectively,HSBC Vietnam together with other markets where the HSBC Group operates can helpreduce CO2 emissions by 161 tonnes a year and reduce 73 tonnes of plastic wasteper year globally.
The switchis a first step in a gradual transition to issue cards made from sustainablematerials, and HSBC will continue to evaluate other alternative materials too.
“Replacingour cards will be another step as to help the bank and our customers make apositive impact on the environment,” said Pramoth Rajendran, Head of Wealth andPersonal Banking at HSBC Vietnam. “There is no doubt that environment is ofprime importance to Vietnam. The country is too familiar with the threats fromclimate change.”
“The movetowards recycled cards enables HSBC and our customers to join hands togetherfor a greener Vietnam, supporting the country’s climate action commitment atthe COP26 which is reaching its net-zero carbon emission target by 2050,” headded.
Previously,to help retail customers reduce carbon emissions and contribute to shaping azero-carbon future for the world, HSBC has enhanced and expanded its range ofgreen loan products in Vietnam, offering preferential loans on greenconstruction and rooftop solar energy, and more green lending to come in the nearfuture./.
VNA
