The card manufacturing industry is at a pivotal point, with consumers and partners alike demanding sustainable solutions for payment methods. This shift is evident in the growing importance of environmental, social, and governance (ESG) policies in the industry.
A recent report by the IBM Institute reveals that over half of consumers consider sustainability more important now than it was a year ago, with many willing to pay a premium for sustainable products. This trend is not lost on financial institutions, which are increasingly recognizing the opportunities and risks associated with ESG. As a result, banks are not only concerned with their own ESG footprint but also with the ESG risks and opportunities they face as lenders.
This brings us to the question: Why is now the time for a recycled PVC (rPVC) core in card manufacturing? The benefits are clear:
Reduction in first-use PVC plastic: By using sustainable plastics for either individual layers or the entire card, the amount of first-use PVC is significantly reduced.
Immediate savings: The use of rPVC in set-up sheets, which are for internal use only, results in immediate cost savings compared to using 100% virgin material.
Exceptional print results: Advances in technology and manufacturing processes have made it possible to achieve exceptional printing results with rPVC.
Color control: The rPVC market has a limited amount of bright white material. By using bright white ink, manufacturers can achieve a visual standard nearly identical to that of virgin material.
Color accuracy: By compounding in 40,000 # lots, color accuracy is ensured within 0.8 Delta.
Engaging with clients in their transition to sustainable practices is crucial. Manufacturers should lead with sustainability, highlighting the clear consumer demand for green solutions. Additionally, discussing the potential savings on material costs, which can range from 20-40% depending on market conditions, can further incentivize the shift to sustainable practices.
The European Union is already moving in this direction, and the U.S. industry is likely to follow suit. Early adopters of these sustainable practices will reap the benefits, while those who delay will be left scrambling to catch up.
In conclusion, the time is ripe for the card manufacturing industry to embrace sustainable practices and make the shift to a recycled PVC core. The benefits are clear, and the market is moving in this direction. Those who act now will be well-positioned for success in the future.
