HSBC issues recycled plastic cards in Vietnam

The roll-out of the card is part of a new programme launched by HSBC Group aimed at introducing sustainable cards across all of its global locations, with a view to supporting its global commitments to sustainability and a net-zero future.

A representative from HSBC Vietnam said the switch applies to Premier MasterCard, Premier Debit Card, and Classic Debit Cards from January. In addition, other kinds of cards will be switched from May.

According to the bank’s website, by the end of 2026 it will eliminate single-use PVC plastic in favour of recycled PVC plastic (rPVC).

The programme includes HSBC’s debit, credit, and commercial cards and is part of the bank’s wider strategy to reduce its carbon emissions and achieve net zero in its operations and supply chain by the year 2030 or sooner.

HSBC said the new rPVC cards are made from 85% recycled plastics. With 23 million cards issued by HSBC per year, the switch to rPVC is expected to reduce 161 tonnes of C02 emissions a year and reduce plastic waste by a total of 73 tonnes annually, which is the weight of over 40 cars.

Pramoth Rajendran, head of Personal Finance and Wealth Management Services at HSBC Vietnam, said the launch of  rPVC cards is a new step in helping the bank and its local clients create a positive impact on the environment.

In his opinion, the environment represents an important issue for Vietnam as the country faces risks caused by climate change.

Switching to recycled plastic cards will therefore contribute to helping the country fulfill its strong commitments at the UN Climate Change Conference (COP26), including developing and implementing strong emissions reduction measures and achieving net-zero emissions by 2050.