Polymer £20 bank notes – what’s the Score?

The Bank of England has said it is investigating the use of palm oil or coconut oil to act as a polymer substrate in future £20 notes.

The introduction of polymer banknotes has so far used a miniscule amount of animal tallow in five and ten pounds notes, bringing criticism from vegetarian and religious groups.

Though it will continue to print ten pounds notes with tallow, the Bank is consulting on alternative substrates, with partner Innovia Solutions. The company has recommended palm oil due to its advanced supply chain.

Palm oil is also a contentious choice for substrates, as it is derived from vast plantations in the tropics where rainforest is replanted with palm trees.  

The Bank of England continues to invite submissions to its consultation on Polymer Additives, responses can be lodged here.