Going green in finance: embracing digital business cards for a sustainable future

In the ever-evolving realm of finance, staying ahead encompasses more than managing assets; it extends to social responsibility. Environmental, social, and governance (ESG) considerations have rightfully taken the spotlight, making sustainability an imperative. For wealth managers and asset managers, transitioning from paper business cards to digital ones presents a simple yet impactful way to contribute to a greener world.

The paper problem

Every year, billions of paper business cards are produced and distributed worldwide, contributing to deforestation, amplified carbon emissions, and the generation of waste. These seemingly inconspicuous cards collectively wield a substantial environmental impact:

Deforestation: The paper industry significantly drives deforestation, a critical concern for biodiversity preservation and climate change mitigation. By embracing digital business cards, the demand for paper decreases, offering protection to our invaluable forests. Every year a business of 100 people typically consumes 1 whole tree's worth of paper business cards. When other waste is factored in, like those cards that gather dust in the bottom drawer, staff turnover, office address updates and job promotions, the true environmental cost of printing cards looks even worse.

Carbon footprint: The production, transportation, and disposal of paper business cards contribute to carbon emissions. Research shows the pulp and paper industry is among the top five most energy-intensive industries globally and is the fourth largest industrial energy user. This industry accounts for approximately 6% of global industrial energy use and 2% of direct industrial CO2 emissions.

Waste generation: Traditional paper business cards are often discarded, with 80% typically thrown in the trash within 1 week of being received. Waste quickly piles up and paper accounts for 26% of landfill accumulation. Digital alternatives can eliminate this waste entirely, alleviating environmental strain.

The green solution: digital business cards

Transitioning to digital business cards entails various advantages for both professional image and environmental welfare:

Resource preservation: The production of one ton of paper necessitates about 2-3 times the weight in trees and 54,000 litres of water. Embracing digital business cards conserves trees, water, and energy resources.

Emission reduction: The production of paper cards emits roughly 1,000 kg of carbon dioxide. However unlike paper cards, digital versions require no printing, transportation, or disposal. This reduction in carbon emissions is a pivotal stride toward attaining carbon neutrality objectives.

Convenience and cost-effectiveness: Digital business cards can be effortlessly shared through different channels. Our Smartcards for instance can be shared via weblinks, QR codes, NFC, smart phones and watches or Apple and Google wallet. This digital approach streamlines networking while saving money, and contributing to a sustainable future.

Taking the leap: Embrace digital business cards

As trailblazers in the finance industry, wealth managers and asset managers play a pivotal role in sculpting a more sustainable financial future. Adopting digital business cards transcends mere modernisation; it actively contributes to a greener planet, aligning seamlessly with ESG principles.

This simple transition fosters waste reduction, resource conservation, and a positive environmental impact. While a small step for individuals, it signifies a colossal stride toward sustainability.

Transitioning to digital business cards is a very easy step to take, but it is much more than an easy win for the environment. Digital business cards will land you a better first impression with prospects, help you automate admin and generate analytics to help boost engagement. Plus in most cases you will actually save money from your original budget by avoiding printing costs.

There are some great options out there, so it is always worth looking around. At GoUpscale, our Smartcards are designed specifically for the demands of professional services like wealth and asset management, where mainstream retail providers struggle with stringent data security and regulatory compliance requirements.

If you’re interested in learning more about our digital business cards or want to arrange a showcase of their full functionality then drop us a message here.