Three in 10 currency departments have a climate strategy

Around half of central banks recycle banknotes but few measure their carbon footprint

Central bank currency departments are yet to take concrete action to ensure their banknote operations are climate friendly. 

According to Central Banking’s Currency Benchmarks 2021, only three in 10 central banks have a dedicated climate strategy, and even fewer measure the specific carbon footprint of their banknotes. 

The number of central bank currency departments with a climate strategy fell in 2021 from 36% to 29%. However, this was a product of differences within the sample. Meanwhile

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