Bangko Sentral ng Pilipinas (BSP)
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Environmental Sustainability
- Security
- Hygiene
Environmental Achievements
- Reduced greenhouse gas emissions by up to 53% in the production of banknotes (compared to paper banknotes)
- Polymer banknotes last at least 2.5 times longer than paper banknotes, reducing the need for frequent replacement and associated environmental impact.
- Polymer banknotes can be recycled to produce various products.
Social Achievements
- Improved hygiene and reduced bacterial transmission due to the non-absorptive surface of polymer banknotes.
- Reduced survival time of COVID-19 virus on polymer banknotes compared to paper banknotes.
Governance Achievements
- Enhanced security features in polymer banknotes making them more difficult to counterfeit, leading to a significant reduction in counterfeiting cases in other countries.
Climate Goals & Targets
Environmental Challenges
- Counterfeiting of banknotes
- Need for sanitization of banknotes during the COVID-19 pandemic
- Environmental impact of producing and disposing of paper banknotes
Mitigation Strategies
- Introduction of 1000-Piso Polymer Banknotes with enhanced security features.
- Polymer banknotes are more resistant to dirt, viruses, and bacteria, reducing the need for frequent sanitization.
- Polymer banknotes are more durable and sustainable, reducing environmental impact.
Supply Chain Management
Climate-Related Risks & Opportunities
Sustainable Products & Innovation
- 1000-Piso Polymer Banknotes