The European Central Bank (ECB) is seeking public feedback on their proposed themes for a series of new “high-tech” euro banknotes, which are supposed to be more environmentally-friendly than their predecessors.
“We are working on a new series of high-tech banknotes with a view to preventing counterfeiting and reducing environmental impact,” said Executive Board member Fabio Panetta.
The ECB offers a variety of “shortlisted” themes that they have compiled, including birds, because they promote freedom of movement across borders.
“Birds know nothing of national borders and symbolise freedom of movement,” the group said.
“Their nests remind us of our own desire to build places and societies that nurture and protect the future. They remind us that we share our continent with all the lifeforms that sustain our common existence.”
They also propose the theme of European rivers, which it says covers the “broader themes of interconnectedness and sustainability,” while another suggested theme would be around “European values” and “our respect for nature and the preservation of the environment.”
A survey is available on the ECB website which is open until August 31st, allowing citizens to weigh in with their thoughts.
ECB President Christine Lagarde hailed the survey, saying: “There is a strong link between our single currency and our shared European identity, and our new series of banknotes should emphasise this. We want Europeans to identify with the design of euro banknotes, which is why they will play an active role in selecting the new theme.”
The ECB says that the outcome of the public’s response will help the bank to select the theme for the next generation of banknotes by 2024. After that a design competition will take place, at which point European citizens will again have the chance to express their preferences on the design options resulting from that competition. The ECB is expected to take the decision on the future design, and on when to produce and issue the new banknotes, in 2026.
In a press release the group said that “it is necessary to issue new banknotes on a regular basis” to stay ahead of criminal counterfeiters, but emphasised the environmental aspect as well.
“Beyond security considerations, the ECB is committed to reducing the environmental impact of euro banknotes throughout their life cycle, while also making them more relatable and inclusive for Europeans of all ages and backgrounds, including vulnerable groups such as people with visual impairment,” the statement read.
The bank further claims that “the total environmental impact caused by the 3 billion euro banknotes produced in 2003 was equivalent to the environmental impact of each European citizen driving a car for one kilometre or leaving a 60W bulb switched on for 12 hours.”
Counterfeiting is currently a small problem in Europe. According to the ECB, in 2022 13 counterfeits were detected per million genuine banknotes in circulation, which is the second-smallest proportion since the introduction of euro banknotes.