European Central Bank study: Euro banknotes have a low environmental impact

According to a study, the use of euro banknotes has a relatively small impact on the environment. The environmental footprint of one person’s annual use of euro notes was the equivalent of an eight-kilometre car trip in 2019, according to research published today by the European Central Bank.

By comparison, producing a cotton shirt that is washed once a week for a year is equivalent to the environmental impact of driving 55 kilometers by car, according to the study.

According to the information, the specified value of euro notes represents 0.01 percent of the total environmental impact of the annual consumption of resources resulting from a person’s activities in Europe.

“Although payments made with euro banknotes have a very small overall impact on the environment, the European system is committed to continuing to reduce this impact,” the study says.

According to the study, energy supply for ATMs (37 percent) and banknote transportation (35 percent) have the greatest impact on the environment. The study relies on the European Commission’s method to calculate the environmental footprint of products.