Digital lending and payments non-bank financial institution WLTH has announced the launch of the WLTH Parley Ocean Card, the first card of its kind in Australia made from recycled materials.
All layers in the card body are made of Parley Ocean Plastic, a type of material developed by WLTH’s partner Parley for the Ocean alongside financial security firm Giesecke+Devrient, which is 80 per cent produced from plastic waste, primarily water bottles, that have been collected, cleaned, processed, and manufactured into plastic sheets. The external overlays are made from recycled PET (polyethylene terephthalate), and the remaining layers (75 per cent) of the card are from upcycled marine debris collected from the global coastlines and communities.
About 45,000 Visa cards will be issued on a limited basis as part of this campaign.
“For us, this card is not only the solution, but it’s also a symbolic strategy,” WLTH CEO and Co-founder Brodie Haupt said. “We have a hundred percent eco and sustainable card. From the packaging, to the envelope, to even the glues, everything is plastic-free, and of course to the card itself and the design. Our customers are becoming more socially conscious and we are empowering them to be more involved in protecting the environment.”
“Everyone has the power to demand change and take action to help create it, but it’s on industry leaders to own the responsibility of bringing new and better options into reality,” Cyrill Gutsch, CEO and Founder of Parley for the Oceans, added. “The keys are collaboration and eco-innovation.”
“Our partnership with Parley is to really raise awareness that the issue is currently present. I think it’s up to us as business leaders to take charge and take control of the issue,” WLTH co-founder Drew Haupt said.
WLTH and Parley’s partnership is designed to minimise the amount of plastic ending up in the world’s oceans, with over 116 million tonnes of plastic currently making up around 80 per cent of marine debris. On average, each Australian uses 130kg of plastic annually, with less than 12 per cent of this plastic ending up recycled, according to WWF Australia.
WLTH and Parley for the Oceans team have first partnered last year to remove debris from the Whitsundays Islands. This was followed by a journey in June 2022 to clean up the coastlines of Cape Bedford and Cape Flattery.
WLTH has also pledged to clean up 50 square meters of beach and coastline for every settled loan with the bank.
