Page 42 - Paragon ID

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Anticipating future regulations
In 2022, the European Commission presented a roadmap which included a gradual ban, on polyvinyl chloride (PVC) and its additives.
Risk
MEDIUM AND LONG-TERM PVC BAN
As part of “Payment Solutions” business activities, Paragon ID, through its subsidiary Thames Technology, produces and sells PVC cards. Any ban on PVCs could have a detrimental impact on its business. Consequently, in 2020 we introduced “green” cards to the market, which are more environmentally-friendly, as part of a voluntary process aimed at replacing traditional PVC cards.
Thames Technology offers a range of more environmen- tally-friendly cards manufactured using both plastic and non-plastic materials.
Over the last three years, the sales volumes of this en- vironmentally-friendly cards have steadily increased, demonstrating the growing appeal of more sustainable solutions.
By 2025, Thames Technology aims to switch all of its clients to these sustainable products, consequently becoming the first card manufacturer in Europe to be fully “virgin plastic free”. The company has also submitted its cardboard cards for Mastercard and Visa accreditation.
Percentage of environmentally-friendly cards sold / total number of cards sold
80 60 40 20
0
51.41%
2020/2021
54.79%
2021/2022
68.11%
2022/2023
TARGET
INDICATOR
% of Eden cards sold / total 2025 number of cards sold: 68.11% 90% (54.79% in 2021/2022)
Thanks to AmaTech’s technology, Thames Technology also manufactures metal payment cards, offering an alternative to PVC. The production of metal cards at Thames Technology began during the 2022/2023 financial year, reaching 15,950 units produced over the year. The target is to produce 200,000 units by 2025.
Production of metal cards (in units)
20,000 15,000 10,000
5,000 0
0
2021/2022
15,950
2022/2023
| Extra-Financial Performance Statement 2022/2023