Sparebanken Sør has entered into a collaboration with TietoEVRY for the delivery of new sustainable payment cards for all its customers in the retail market. The use of nothing other than biological material can reduce the CO2 emissions associated with cards by an impressive 75%.
The background to this initiative is a shared focus on sustainability and using technology to create responsible banking services. The new sustainable cards are under development, and the first customers will receive them in January 2022. Sparebanken Sør will thus become one of the first banks in Norway and Europe to offer sustainable payment cards.
A small card – a quantum leap for the environment
Payment cards weigh no more than 7 grams but, due to strict quality requirements, they are currently made from virgin plastic. TietoEVRY has worked with organisations in its value chain to test out different types of plastic and identified a biological material capable of replacing the plastic used today. A special production process ensures the strict technical and security-related quality requirements for bank cards are met.
Calculations based on the expected volume of cards indicate that thanks to this initiative Sparebanken Sør will spare the environment 5.3 tonnes of plastic over a ten year period.
“Sparebanken Sør has a long tradition of being a responsible corporate citizen and has been part of the development of the local communities in its market areas for generations. Its sustainability work is a natural extension of the role the bank has played for almost 200 years,” comments Geir Bergskaug, CEO of Sparebanken Sør.
“We are keen to drive the pace of change, and we therefore entered into a collaboration with TietoEVRY to look at how we can ensure that our payment infrastructure makes use of market-leading technology for the benefit of the environment and our customers,” explains Geir Bergskaug.
“Both TietoEVRY and Sparebanken Sør are strongly committed to reducing their climate footprint. Thanks to our clear focus on and genuine willingness to find solutions, we are on the threshold of delivering payment cards made from biological material. This is an important technological breakthrough for the European banking industry, and it illustrates that Sparebanken Sør and Norwegian banking are at the forefront of developments,” comments Christian Pedersen, Managing Partner for TietoEVRY Norway.
The need to take a holistic approach
Sparebanken Sør and TietoEVRY are signatories to the UN Global Compact, a global network for companies that seek to work on sustainability and to contribute to responsible and sustainable business practices. The UN Global Compact is the world’s largest initiative for corporate sustainability (ESG).
“Achieving the UN’s Sustainable Development Goals requires innovation, adaptability and creativity in every area. Sustainable cards are a good example of this, and they illustrate how important collaboration is to achieving the Sustainable Development Goals,” comments Kim N. Gabrielli, Executive Director of the UN Global Compact Norway.
In addition to the sustainable cards themselves, Sparebanken Sør and TietoEVRY have committed to working towards reducing the emissions associated with all the other aspects of the card production and distribution process.
Geir Remman, Communications Lead, TietoEVRY Norway, +47 97055017