The Riksbank's Climate Report 2025

Payments have a low carbon footprint

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Payments have a low carbon footprint

The Riksbank works to reduce the carbon footprint of cash management and payment infrastructure

Published: 21 February 2025

The Riksbank has the sole right to issue banknotes and coins in Sweden. This means that the Riksbank supplies and destroys worn-out banknotes and coins and redeems invalid banknotes. The Riksbank works on sustainability from various aspects relating to banknotes and coins. Key areas of work include design, procurement and agreements, and the handling of banknotes and coins.

In the lower denominations, the Riksbank issues coins instead of banknotes. Lower denominations are used more often and therefore suffer more wear than higher denominations, but coins last longer than banknotes. In 2015-2017, the Riksbank introduced a new banknote and coin series. The new coins and banknotes contain more climate-friendly components, which has a positive impact on production, transport and degradation. The new banknotes are smaller than the previous ones, making production more efficient. A 200-krona banknote was introduced to achieve a more efficient distribution between denominations, so that fewer banknotes need to be used. The two-krona coin was reintroduced for the same reason and, above all, to reduce the number of one-krona coins in circulation.

The Riksbank also requires that a certain part of the cotton used in the banknote paper ise organically grown, which means that it is grown without pesticides and with respect for the natural environment and human beings. The cotton is certified by the Global Organic Textile Standard (GOTS). The paper in Swedish banknotes is designed to be as physically sustainable as possible. This means that banknotes can circulate for longer than before and fewer banknotes need to be printed. The new coins are lighter than the previous versions, leading to lower transport costs. The Riksbank has also stopped using nickel and other alloys that were used in older coins. Steel, which has a lower environmental impact from mining, is mostly used today. Nickel and other alloys can also cause allergy problems for people using the coins. In 2022, the Riksbank also started using new banknote sorting machines that automatically and more accurately determine when used banknotes should be destroyed. This prevents banknotes from being unnecessarily destroyed.