ESG INITIATIVE AND INNOVATION
Sustainability, Social Responsibility
and Banknote Ethics
All companies have to comply with environmental laws and regulations. At Crane Currency, our ambition is to go one step further and continuously improve. Our ESG Initiative is a systematic approach to support the communities in which we work and live and pursue systemic improvements in strategic areas such as water usage, energy savings, climate emissions and waste reduction.
Waste prevention and alternative energy sources
Our sustainability ambition is to continuously improve and streamline production. The priority is always to recycle as much paper waste as possible internally and bring it back into production.
At our paper mill in Tumba, Sweden, 230 tons of shredded banknote paper are today recycled by a consumer paper mill in the Netherlands, producing high-volume tissue paper, e.g., toilet paper, household towels and facial tissue.
Our operations in Dalton, MA have two raw material processing mills and two paper mills. Since 1996, all residuals from the pulp and paper manufacturing processes are recovered and composted. By mixing it with leaf and yard waste, these by-products of the currency paper production are shipped to a compost facility and some is direct land applied.
Our modern banknote printing plant in Ħal Far, Malta, has been designed with conservation in mind. The latest investment in 2022 was a huge solar farm covering 6,500 m2 (70,000 ft2) on the roof of the facility.
Chemical substitution and water preservation
During the paper manufacturing and printing processes, we thoughtfully select chemicals to create products of the best quality. We are constantly evaluating the material alternatives in order to minimize environmental impact.
Using water from lakes and municipal water conduits consumes energy too. So Crane Currency has equipped its papermaking operations with fiber and water recovery systems that allow water to be captured and reused for appropriate processes.
A good corporate citizen
At Crane Currency, we have always regarded community responsibility as part of our corporate identity. It was a hallmark for the Crane Currency family to participate in building the surrounding communities – and we continue to encourage a strong corporate citizen focus.
Crane Currency encourages and supports employee volunteers in our communities through the Crane Currency Charitable Ambassador program. Crane Currency has also donated numerous land holdings for conservation making new areas permanently open to the public for hiking and outdoor enjoyment.
Another important aspect of our work is ethical business practice. It has always been the policy of Crane Currency to comply fully with all laws governing our operations and to conduct our business in keeping with the highest moral, legal, and ethical standards.
The company is a founding member of the Banknote Ethics Initiative (BnEI) which focuses on the prevention of corruption and on compliance with anti-trust laws within the banknote industry.
R. T. Crane Resolution
When acquired by Crane Co. in January 2018, Crane Currency quickly adopted the resolution of R. T. Crane, the founder of Crane Co. The values expressed in the resolution were very much aligned with how Crane Currency operates its business – and still valid when now being part of Crane NXT:
“I am resolved to conduct my business in the strictest honesty and fairness;
to avoid all deception and trickery;
to deal fairly with both customers and competitors;
to be liberal and just toward employees;
and to put my whole mind upon the business.”