Banknote recycling remains limited at most central banks
Just a few institutions track carbon footprints of banknotes
Central banks recycle damaged banknotes as part of efforts to reduce their environmental impact, but not all institutions recycle at maximum potential, the Currency Benchmarks 2023 find.
Data from 32 central banks showed that 13 (40.6%) institutions recycle 100% of unfit banknotes in their jurisdictions. Three (9.4%) respondents said more than 50% of unfit banknotes are recycled. Fewer than half of mutilated notes are recycled at two (6.3%) currency departments. The remaining 14 (43.8%)
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