Payments and sustainability

Sustainability of banknotes and coins

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 this work, the selection of materials and distribution of denominations are important factors for obtaining an efficient, environmentally-friendly and sustainable banknote and coin series. 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 some of the cotton used in the banknote paper be organically grown. 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.

When the Riksbank destroys worn and invalid banknotes, the waste material is burned and used for district heating, while worn and invalid coins are sold to be melted down and recycled.

Payments in Sweden shall be safe, efficient and accessible

The Riksbank's objective is for payments in Sweden to be safe, efficient and accessible. The work takes into account not only climate aspects but also other sustainability risks to promote a well-functioning payment system. It shall be possible for everyone in Sweden to pay at a reasonable cost. Users must have good access to payment services and there must be different payment methods to choose between, depending on the situation and conditions.