Progress on ECB’s Environmental Cash Programme

The Banco de España has issued a press release about meeting the European Central Bank’s (ECB) waste goal for banknotes. It puts this in the context of the ECB’s wider programme.

The ECB has taken a number of steps to reduce the environmental impact of euro banknotes. In 2012 the €5, €10 and €20 euro banknote specifications changed to include a varnish coating to extend their average note life. Longer life reduces the need to replace notes, which means fewer raw materials and energy used to produce the notes are needed.

In 2014 the ECB decided only to use cotton from sustainable sources, with a transition through until 2023 to achieve this. The Dutch National Bank had been the pioneer of this idea.