The Philippines has made a significant stride towards sustainable currency management with the introduction of polymer banknotes.
These durable notes, with a lifespan of up to 7.5 years, offer a significant environmental advantage over paper notes, which typically last only 1.5 years.
A recent study by De La Salle University confirmed the lower environmental impact of polymer banknotes, highlighting their reduced carbon footprint.
A 2023 study by De La Salle University found that polymer banknotes have a 38.36% lower global warming potential compared to paper notes, owing to their longer lifespan and reduced resource consumption, the BSP said.
The notes are also resistant to water, oil, and dirt, making them easier to clean and sanitize, an advantage underscored during the COVID-19 pandemic, according to the Department of Health.
Polymer banknotes incorporate advanced features, including clear windows, embossed denominations, and iridescent figures, to deter counterfeiting.
The Philippines joins more than 40 countries using polymer banknotes, part of a global shift toward more secure, durable, and environmentally sustainable currency solutions.
