BBVA is seeking to make all of its global credit cards from recycled plastic by the end of 2023, according to a new press release. The banking giant, which also issues U.S. credit cards, is supercharging its goal by providing more than seven million recycled credit cards by the end of 2021.
BBVA to Construct All Credit Cards from Recycled PVC By 2023
All BBVA credit cards will be entirely composed of recycled materials as of 2023. That is the bank’s goal for the future as it seeks to reduce its carbon footprint.
The bank, also known as Banco Bilbao Vizcaya Argentina, is the second-largest bank in Spain and offers credit card products in various international countries – including the United States. To date, BBVA has 90 million credit cards in circulation – all of which will be made of recycled polyvinyl chloride (PVC) plastic by the end of 2023.
Seven Million 100% Recycled Cards By the End of 2021
To supercharge this ambitious goal, BBVA aims to offer 7.3 million of these PVC cards by the end of 2021. Ultimately, all the bank’s portfolio will feature recycling PVC from waste products from various industries like packaging, printing, the automotive sector, and windows.
BBVA opted for PVC after studying various recycled materials and determining that recycled PVC was the most durable of all the available options. The bank’s current card construction process involves 86% recycled PVC – the highest level of recycled content within the global financial sector. Still, the Spanish banking giants hope to reach 100% by the end of May.
BBVA, or Banco Bilbao Vizcaya Argentina, is Spain’s second-largest bank and a leading international personal and commercial bank. The BBVA brand also includes BBVA USA, the bank’s U.S. subsidiary. BBVA USA was formerly known as BBVA Compass and currently has its headquarters in Birmingham, Alabama.
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