How we support central banks to reach 'zero waste'
Globally, over the past seven years, 85 per cent of end of life GUARDIAN banknotes have been recycled.
The Reserve Bank of Australia issued the world’s first polymer banknotes – and recycled them. When these initial $5 and
$10 notes were removed from circulation, they were converted back into polypropylene pellets and transformed into compost containers.
"It takes $10,000 worth to produce one bin," media reported in 1993. This proven recycling pathway has always been one of the factors that sets polymer substrate apart from cotton-paper – and in a world increasingly seeking sustainable outcomes, it’s become a key driver of central banks’ decision to switch.
Globally, over the past seven years, 85 per cent of spent GUARDIAN banknotes have been recycled. At CCL Secure, our goal is to help central banks reach ‘zero waste’. We do this by providing practical support that enables customers to recycle every banknote at end-of-life.
So, how do we close the loop?
In 2015, CCL Secure launched the GUARDIAN Global Recycling Program to formalise our focus on sustainable outcomes. It’s an award-winning initiative that combines comprehensive support services, direct infrastructure investment, and complementary capacity building throughout supply chains.
Central to this endeavour is the understanding that the key barriers to recycling polymer banknotes have never been technical. Rather, they revolve around two practical issues – banknote volumes and infrastructure.
While there is no minimum volume required for recycling polymer banknotes, central banks servicing smaller markets tend to increase their returns when they store banknotes to be processed in larger batches. Storage is also common in the period immediately after transitioning to polymer, since it takes several years before significant volumes of unfit banknotes build up.
The other challenge central banks may face is a lack of local infrastructure; but where there is no suitable domestic plant, the solution is simple. Banknotes are shredded and sent for processing at a regional recycling facility, which CCL Secure can help identify and trial.
These support services are underpinned by dedicated technical managers in every region. They consult closely with central banks to understand their specific challenges, then collaborate to create effective solutions. This may include facilitating connections with recycling companies, providing technical advice, and assisting with quality controls and testing. For most central banks, the recycling journey begins as part of the planning
process a head of transitioning to polymer banknotes, but our support services continue throughout the entire time GUARDIAN banknotes are circulating.
The full article can be viewed in Specimen Magazine — issue 12.
