This is part of our strategy to reduce our carbon emissions and achieve net zero in our operations and supply chain by 2050, or sooner.
Net zero refers to the balance between the amount of greenhouse gas (GHG) that's produced and the amount that's removed from the atmosphere.
At the Conference of Parties (COP26) in January 2021, Vietnam made a commitment to bring net emissions to zero by the middle of the century. This can be achieved through a combination of emission reduction and emission removal.
In January 2022, following the exchange, HSBC was proud to become the first bank in Vietnam to issue cards made of recycled polyvinyl chloride (rPVC).
At COP28, in December 2023, the Bank reiterated its efforts to support Vietnam in achieving its sustainability goals.
All cards we issue – including HSBC debit and credit cards – will now be made from 85% recycled plastic. As a next step, we’re planning to move to cards made from 100% recycled plastic.
In order to be as sustainable as possible, we’ll only replace your card when it naturally expires or is lost, stolen or damaged.
Conventional payment cards are made from polyvinyl chloride acetate (PVC).
The industrial waste produced from this material is challenging. Across the world, 6 billion plastic payment cards are produced every year.
Recycled PVC plastic (rPVC) has the same durability and expiry date (5 years) as the PVC product. However, it's less harmful to the planet as we're using material that would otherwise be incinerated or sent to landfill.
The new card is made from 85% recycled plastic derived from industrial waste. This will help reduce carbon emissions by half a tonne and save 0.2 tonnes of plastic per year in Vietnam. In total, HSBC Vietnam and other HSBC Group markets can help reduce 161 tonnes of carbon emissions and 73 tonnes of plastic waste each year worldwide.
All of our cards now have a vertical design. The characteristic hexagonal symbol is integrated with natural motifs, such as stones, crystals and pebbles, in the center of the card.
This combination represents the connection between people and nature – an important factor for a more sustainable, balanced and prosperous future.
The new design of the card is also a symbol of the door opening to a world full of opportunities from HSBC.
From using less plastic to saving energy and reducing waste, more of us are changing our habits and making eco-friendly purchasing decisions.
Small changes can, and do, add up – not only to benefit the environment, but to save you money, too.
