CPI® joins other leading companies to scale the
use of ocean-bound plastics; builds on CSR initiatives and Second
Wave™ recovered ocean-bound plastic credit and debit cards
NextWave Plastics, a Lonely Whale initiative convening leading
companies to develop the first global network of ocean-bound
plastics supply chains, today announces CPI Card Group Inc. (OTCQX:
PMTS, TSX: PMTS) (“CPI” or the “Company”), a payment technology
company and leading provider of credit, debit and prepaid
solutions, as the latest new member company to join the
consortium.
In September 2019, CPI introduced the first to market payment
card featuring a core made with recovered ocean-bound plastic.
Named Second Wave™, the high-quality card from CPI is EMV®
compliant and dual interface capable.
Second Wave™ offers businesses an opportunity to engage a
growing market of environmentally-conscious consumers while helping
reduce first-use plastic and divert plastic waste from entering the
ocean. CPI estimates that, for every 1 million Second Wave™ payment
cards produced, over 1 ton of plastic will be diverted from
entering the world’s oceans, waterways, and shorelines. Since
launching the card in 2019, CPI has produced and delivered over 10
million Second Wave™ cards, diverting at least an estimated 10 tons
of plastic from entering the ocean.
“CPI is dedicated to being a responsible corporate citizen - and
we take pride in offering financial institutions and companies
across various card industry segments an innovative way to
incorporate sustainable solutions into their portfolios,” said Guy
DiMaggio, SVP & General Manager of Secure Card Solutions at CPI
Card Group. “Joining NextWave supports our commitment to addressing
the problem of plastic entering the Earth’s oceans. We look forward
to collaborating with and learning directly from the leading
technology companies and consumer brands that are NextWave members
– as we explore new ways to incorporate ocean-bound plastics into
our products and better protect our planet.”
Lonely Whale, a nonprofit that develops data-driven campaigns
that reconnect us to each other by encouraging behavior change away
from single-use plastic and toward a healthy, thriving ocean,
launched NextWave Plastics alongside Dell Technologies in 2017 to
bring together a cross-industry consortium of companies to scale
the use of ocean-bound plastics. Member companies include Dell
Technologies, Bureo, General Motors, Herman Miller, HP Inc.,
Humanscale, IKEA, Interface, Solgaard, Trek Bicycle, and now, CPI
Card Group.
As a NextWave member company, CPI is reinforcing its
sustainability efforts by joining the ranks of other leading
companies who have collectively diverted 850 tons of plastic from
entering the ocean in two years. Through NextWave, CPI will add to
and learn from the existing body of knowledge on ocean-bound
plastic sourcing and recycling, advancing near-term solutions to
protect the ocean from plastic pollution. Additionally, CPI’s
ocean-bound plastics supply chain in Haiti is a part of the same
supply chain utilized by HP for its products including the HP Elite
Dragonfly, the world’s first notebook with ocean-bound plastics; HP
EliteDisplay E273d, the world’s first display manufactured with
ocean-bound plastics; and the Original HP ink cartridges made with
plastic bottles collected in Haiti. With two member companies
sourcing different types of material from the same location,
NextWave is able to have a more widespread impact in Haiti. This
furthers NextWave’s core mission of scaling ocean-bound plastic
supply chains worldwide.
“At HP, we envision a low carbon and circular economy that
creates a healthier planet, provides income opportunities for
people and communities, and respects human rights,” said Ellen
Jackowski, Chief Sustainability and Social Impact Officer at HP
Inc. “HP has diverted more than 780 tonnes of plastic (equivalent
60 million bottles) from the ocean and upcycled them into premium
HP products. Now with CPI joining NextWave and sourcing from the
same supply chain that we use, the expanded collaboration will
allow us to quickly scale the supply chain and solve critical
issues to stop plastic from reaching our oceans and to create
lasting, positive impact on our planet.”
NextWave member companies have introduced more than 10 new
products integrating recycled ocean-bound plastic content as of the
end of 2019, with more to come – and are currently on track, in
alignment with UN SDG 14.1, to have diverted a minimum of 25,000
tons of plastics, the equivalent to 1.2 billion single-use plastic
water bottles, from entering the ocean by the end of 2025.
“CPI Card Group’s addition to NextWave Plastics marks a total of
11 companies collaborating to turn off the tap of plastic entering
the ocean,” said Kendall Starkman, director of NextWave Plastics at
Lonely Whale. “NextWave Plastics unites private-sector competitors,
many of which are direct competitors, to work together openly and
transparently. Most companies keep supplier relationships and
product development confidential, but by building trust, NextWave
fosters transformative collaboration to facilitate innovation at
scale. We are thrilled to have CPI join us as a NextWave Plastics
member company – another bold leader standing up for our
ocean.”
To learn more about Second Wave™, click here.
For more information on NextWave, visit
www.nextwaveplastics.org. You can also connect with NextWave on
Facebook, Twitter and LinkedIn.
About CPI Card Group®CPI
Card Group® is a payment technology company and leading provider of
credit, debit and prepaid solutions delivered physically, digitally
and on-demand. CPI helps our customers foster connections and build
their brands through innovative and reliable solutions, including
financial payment cards, personalization, and Software-as-a-Service
(SaaS) instant issuance. CPI has more than 20 years of experience
in the payments market and is a trusted partner to financial
institutions and payments services providers. Serving customers
from locations throughout the United States, CPI has a large
network of high security facilities, each of which is registered as
PCI compliant by one or more of the payment brands: Visa,
Mastercard®, American Express® and Discover®. Learn more at
www.cpicardgroup.com.
About Lonely Whale Lonely
Whale is an award-winning incubator for courageous ideas that drive
impactful market-based change on behalf of our ocean. Founded in
December 2015 by Adrian Grenier and Lucy Sumner, Lonely Whale is
inspired by the power of community to create the change needed to
ensure a healthy planet. Lonely Whale is working towards a new era
of radical collaboration, together facilitating the creation of
innovative ideas that push the boundary on current trends in
technology, media and advocacy that positively impact the health of
our ocean. The organization spearheaded the global Strawless Ocean
movement, which permanently removes single-use plastic straws from
establishments and markets, and NextWave Plastics, the first global
network of ocean-bound plastics supply chains. Lonely Whale’s work
has been recognized by Fast Company’s World Changing Ideas and Most
Innovative Companies, the Shorty Awards, the ADDY Awards, the SEAL
Awards, the P4G 2018 Circular Economy Award sponsored by the Danish
Government, the HALO Awards, and more. Lonely Whale is a proud
supporter of the UN Environment’s #CleanSeas campaign. To learn
more and support, visit www.lonelywhale.org or follow
@LonelyWhale.
About NextWave Plastics
NextWave Plastics is an industry-led, open-source collaboration
among leading technology companies and consumer brands to develop
the first global network of ocean-bound plastics supply chains.
Convened by Lonely Whale, this consortium aims to keep plastic in
our economy and out of the ocean and has committed to preventing a
minimum of 25,000 tons of plastic waste from entering the oceans by
2025 across countries most impacted by plastic pollution. Members
include Dell Technologies, Bureo, CPI Card Group, General Motors,
Herman Miller, HP Inc., Humanscale, IKEA, Interface, Solgaard, and
Trek Bicycle. To learn more, visit www.nextwaveplastics.org or
follow @NextWavePlastics.
EMV® is a registered trademark in the U.S. and other countries
and an unregistered trademark elsewhere. The EMV trademark is owned
by EMVCo, LLC.
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ICR Inc. for CPI Card Group Sourav Das 203-682-8283
media@cpicardgroup.com
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