The Conversion to Polymer Continues By Nikki Strickland, The transition to polymer continues around the world. In recent months the Scottish and Northern Irish Banks have issued their polymer £20 banknotes and the is working on its new polymer £50. The of Egypt has announced its 10 and 20 denominations will move to polymer. The National Bank of Angola is midway through the introduction of its four polymer banknotes and the Central Bank of Trinidad and Tobago have unveiled their updated concept designs. Multiple others are in discussions or considering upgrading. So why are central banks transitioning De La Rue has developed an environmental That said, De La Rue recognises that the to polymer? and carbon footprint assessment tool, type of local counterfeit threat plays a role Often the reasons cited are that polymer working with the leading environmental in the most appropriate security is cleaner, greener, more secure and more impact organization ThinkStep to align to an features, and so continues to advance durable than their paper counterparts. This internationally recognised approach. This paper-based security features and ensure article explores the themes in more detail. tool covers global warming potential, non- central banks and note issuing authorities The cleanliness comes from the zero renewable primary energy demand, abiotic have the choice they need. porosity of the polymer banknotes, which resource depletion potential, acidification One of the most obvious benefits of means that dirt doesn’t get trapped in the potential, eutrophication potential and polymer banknotes relates to its durability substrate and the notes look cleaner in photochemical ozone creation potential. and the consequent cost saving benefits circulation for longer. During the COVID-19 This tool continually demonstrates the associated with notes lasting longer. Over pandemic this also means that wiping benefits of polymer over paper banknotes, ten thousand data points in DLR Analytics™ the notes with sanitizer means polymer in alignment with other independent studies demonstrate that polymer banknotes last, notes can be treated like every other conducted by central banks such as the on average, 2.5 times longer than paper hard surface (and even though the role Reserve Bank of , banknotes and that this is a statistically of surface transmission is now thought to and Bank of England. significant difference that stands out be much less, than airborne particles the Furthermore De La Rue also offers a carbon despite all the other factors that influence wiping-down of surfaces has become more neutral banknote service – partnering with banknote lifetime. common place). Carbon Footprint Ltd to quantify and balance When looking at specific examples of More generally, the greater cleanliness of out emissions associated with banknotes central banks who have transitioned to polymer notes has the additional advantage across their life cycle, then offsetting that polymer, the actual improvement in note of unlocking a broader palette of colours impact. Via this service it supported the life can be as large as a factor of six times because historically paper banknotes Central Bank of in issuing the world's increase. As a result of this many central have avoided colours that show the first ever carbon neutral banknote. banks experience cost benefits across the dirt. The result is that banknote issuing The security benefits can be seen from the lifetime of the banknotes, with the Reserve authorities can then select brighter, fresher reduction in counterfeit rates as banknotes Bank of Australia recently stating that it looking banknotes. transition to polymer. The Bank of England, has saved over $1 billion dollars since the The greenness comes in part from Reserve Bank of , Bank of transition to polymer. the improved durability of the polymer and Bank of Canada were some of Many more evidence points and banknotes. Banknotes that last longer need the central banks who experienced a drop references exist on this topic. Between replacing less frequently and so consume in counterfeits after transitioning to polymer. October and February De La Rue will host fewer raw materials. Banknotes that look Whilst no banknote is, or ever will be, three webinars exploring the theme of better in circulation are more likely to be entirely counterfeit proof, research suggests sustainable confidence when converting re-issued into circulation more times at that techniques to produce a high-quality to polymer. These webinars cover the the point of local sorting, requiring less counterfeit polymer banknote are slow, ‘why’ and the ‘how’ of transitioning to transportation overall. expensive and require a high level of polymer and will share the experiences of Polymer banknotes are also fully recyclable effort and technical expertise. Digital central banks, banknote issuing authorities at the end of their useful life – a benefit inkjet and toner print don’t adhere to it and others involved in the upgrade to of being a pure substrate that is widely and the presence of a window is hard to polymer banknotes. recycled. Banknotes return to the central simulate convincingly in paper banknotes. The first webinar entitled ‘Sustainable bank for destruction, which means that Many aspects of counterfeiting paper Confidence: Why Central Banks Convert they have the potential to be recycled. banknotes become more complicated for to Polymer’ will take place on 28 October Access to specialised recycling facilities is polymer notes or require new techniques at 08.00, repeated at 16.00 GMT. Susan possible without having to build specialist and equipment. Kumar (Chief Manager, Reserve Bank equipment, with ‘clean’ recycling options of ), Andrew Baker (Senior Manager, (ie. ones that don’t release toxic fumes) Bank of England) and Timothy Antoine in existence. (Governor, Eastern Caribbean Central Bank) will join us to share their experiences and answer questions.