Sustainability: A Part of Life at Australia’s Banknote Precinct

Sustainability as a concept has been best defined by the United Nations Brundtland Commission as 'meeting the needs of the present without compromising the ability of future generations to meet their own needs'.

Supporters of polymer banknotes argue that their development created a product that could significantly extend note life and be 100% recyclable at the end of its life. Note Printing Australia (NPA) and the Reserve Bank of Australia (RBA) have recycled 100% of polymer production waste and unfit banknotes for the last 20 years. The lower carbon emissions associated with the extended note life are claimed to be benefits that central banks need to consider as sustainability moves up the governance priority list.

In countries like Australia where recycling is a mature activity, the recycled plastics manufacturing industry is able to produce useful products that replace the use of primary natural resources. For example, recycled polymer planks, which can include recycled banknotes, are being sold to local councils around the nation for use as walking tracks along coastlines or in rainforests. These recycled polymer products are estimated to last 40-60 years and, based on current recycling technology, can be melted down and remanufactured a total of three times. Thus, polymer banknotes can be part of a truly circular economy.