From Small Steps to Scaled Impact: How Financial Institutions Can Lead Environmental Change

As sustainability has become a strategic priority across the financial sector, issuing banks are uniquely positioned to help scale initiatives that can support environmental objectives. With direct access to millions of customers and strong links to innovative startups, banks can influence behaviour and help unlock funding for solutions that can be deployed at scale.

At Thales, we’re proud to work alongside organisations that are taking practical steps on environmental initiatives. In this conversation, Simon Rosenberger, Head of Payment Card Program at Parley for the Oceans, and Jessie Huang, Product Marketing Manager at Thales, share their perspectives on  innovation in payments and on material choices for payment cards using the Thales Gemalto Ocean Plastic® payment card, co-created by Parley and Thales, as a real-world example of an alternative-material payment card. 

Where should issuing banks start when driving sustainable innovation?

Banks don’t need to have a fully developed sustainability strategy to get started. What matters is recognising their unique position and using it to take small, concrete steps that contribute to environmental progress.

For instance, starting with an alternative card or supporting a local environmental company such as Parley for the Oceans, or any other environmental organisation aligned with bank’s priorities, can be a practical first step

A powerful example of this approach is the Thales Gemalto Ocean Plastic® card developed through the partnership between Thales and Parley for the Oceans. 

As a pioneer in bringing Ocean Plastic® cards to the payment industry, Thales worked with Parley to transform plastic waste collected from coastal communities into secure, high-performance payment cards. The journey was not without challenges: introducing new recycled materials while maintaining the strict security, durability and certification standards required for payment cards demanded significant innovation. 

Yet the results demonstrate what’s possible when material innovation and technology move forward together. From an initial rollout of a few hundred thousand cards, the initiative has now grown to more than 36 million cards in circulation worldwide, with the number continuing to grow.  For issuing banks, this kind of scale represents an opportunity to pilot and expand defined initiatives through product choices, partnerships and programmes. 

Beyond that first step, what role can issuing banks play in accelerating sustainable innovation?

A significant role can be played by supporting alternative materials and other lower impact choices where benefits are defined and can be evidenced. Issuing banks are in a unique position because they are very close to the end customer, giving them considerable power to influence behaviour. They have millions of customers and can leverage this customer base.

At the same time, they have a direct line to startups and cleantech companies – many of which need funding. Funding is essential when trying to enact widescale changes. Financial institutions shouldn’t lose sight of the power they have to drive solutions that create positive change.

And how does this power play out practically?

Issuing banks operate at the intersection of consumer behaviour and capital allocation. Through everyday payment interactions, they can encourage more lower-impact choices,  such as cards made of alternative materials,  that aim to reduce waste, and partnerships that support specific environmental initiatives. 

Their capacity to direct investment into climate innovation and cleantech startups enables solutions to scale effectively. This dual influence over both customers and capital positions banks as powerful drivers of systemic change within the sustainability ecosystem.

From Small Steps to Systemic Change in Sustainable Finance

The message is clear: environmental leadership in banking does not require a complete reinvention from day one. It requires commitment, collaboration and the willingness to begin. 

Whether through alternative material payment cards, product and programme design that aims to reduce waste or partnerships with relevant organisations, issuing banks have the reach, resources and responsibility to help scale initiatives with clearly defined objectives. By leveraging customer base and supporting climate-focused start-ups, financial institutions can help move promising initiatives from niche pilots to broader deployments.