The big differences are mainly due to the transport required to transport money around the country.
– They usually happen with heavy, diesel-powered vehicles. There, emissions could be reduced by switching to biofuel, or eventually electricity, says Niklas Arvidsson, professor at the Royal Institute of Technology, KTH.
Surprisingly big differences
In the study, he and his research colleagues compared the climate impact when paying with cash, payment notes, cards, Swish and e-invoices.
– It surprised me that there was such a big difference between cash and other payment methods, says Niklas Arvidsson and explains that he had thought that the electricity consumption of the digital solutions would play a bigger role.
– After all, they require enormous computer systems.
Overall, our payments account for 0.01 percent of Sweden’s total carbon dioxide emissions, which was lower than the researchers expected. Niklas Arvidsson emphasizes, however, that although the emissions may sound small on a national level, it is important for the companies behind the digital solutions to have knowledge of their climate impact in order to live up to today’s sustainability requirements and also improve their products.
Cash still important
The study was commissioned by the Riksbank and is to serve as a frame of reference in their work to review how a possible future digital central bank currency, a so-called e-krona, could be designed.
But there is no reason to worry that cash would disappear, and the Riksbank emphasizes that there are more aspects to sustainability than climate emissions.
– Cash continues to fulfill an important function for everyone in society to be able to pay and for society’s preparedness, says Nathalie Lundberg at the Riksbank.