A new study conducted by the European Central Bank (ECB) has revealed the ecological footprint left by Euro banknotes as a means of payment. According to the study, the average ecological footprint of Euro banknote payments in 2019 was found to be 101 micro points (µPt) per citizen of the Eurozone. This is equivalent to driving eight kilometers by car or 0.01 percent of the total environmental impact of an average European citizen’s annual consumption activities.

The study identified the main factors contributing to the ecological footprint, which include the energy consumption of ATMs and transportation, followed by processing by national central banks, paper production, and authenticity verification of banknotes in stores. The study measures the potential environmental impacts of all activities throughout the lifecycle of Euro banknotes, from raw material procurement to production, distribution, circulation, and disposal by the national central banks of the Eurozone.

However, due to the long lifespan of banknotes and their widespread use for numerous transactions, the environmental impact of banknote production is relatively lower compared to transportation and distribution.