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Bank of England backs palm oil to replace animal fat in plastic The Bank of England has backed the use of palm oil in its new20 note following a backlash from vegans and religious groups over the use of animal fat in kate spade outlet canada the plastic super sale kate spade 5 note.
The Bank said the world's most commonly used vegetable oil was the "only practical alternative" to tallow, following considerations about cost and availability. Launching a public consultation on how future plastic banknotes should be made, the Bank estimated that using palm oil instead of tallow would add around 5m to production costs over the next 10 years of around 300m. It kate spade private sale said palm oil offered a "mature supply chain and is available at reasonable cost". The Bankhas started "extensive testing" of palm oil to ensure it meets "technical and operational requirements". The tests are expected to conclude this summer. The Bank said De La Rue and Innovia Security, which produced the 5 and 10 plastic banknotes, had a "high degree of confidence" that the oil could be used in the plastic 20 discount kate spade bags note, which will be introduced in 2020. Environmentalists have warned that palm plantations destroy forests and other valuable ecosystems, accounting for 8pcof global deforestation between 1990 and 2008. However, the Bank said using coconut oil, also identified as a suitable substitute, would require "more land to produce the same volume of oil". The Bank expects to print around five billion polymer 20 notes over 10 years. It said the palm oil needed to produce the notes couldbe sourced "from one year's production of less than six hectaresof palm oil plantation". In 2013, there were around 12 million hectares of palm in Malaysia and Indonesia alone, it said. Using animal fat would "equate to the usage of tallow by products from around 25 30 cattle". Emma Keller, agriculture commodities manager at theWWF, welcomed the "thorough and extensive review" conducted by the Bank, including a detailed report bythe Experts in Sustainable Forest Agricultural Advice (Efeca). However, she stressed that growing demand for palm oilcame at the "expense of human rights and tropical forest", and that the organisation would only support oil where production could be traced and certified by the Roundtable on Sustainable Palm Oil (RPSO).
"People don't want the bank notes in their pocket to come with such a high environmental cost," she said."The bank must only source RSPO certified sustainable palm oil or none at all.".
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