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. That means conducting our business in a way that is sustainable and contributes to the communities in which we work.
Crane Currency CSR Policy 2018
Preservation of natural resources is important and there are many ways for companies to improve their processes.
Waste prevention and alternative energy sources
One example is our operations in Dalton, MA, where two raw material processing mills and two paper mills operate.
Since 1996, all residuals from the pulp and paper manufacturing processes are recovered and composted. By mixing it with leaf and yard waste, these byproducts of the currency paper production are turned into topsoil – a fertile mix valued by the local farming community. Every year we produce more than 15,000 cubic yards (approximately 11,500 cubic meters) of this composted organic matter for agricultural use.
Crane Currency also uses renewable power sources such as hydroelectricity and steam cogeneration in its manufacturing facilities. In 2013, a new hydroelectric turbine was commissioned to generate electric power used to produce currency paper. This project reduces our emissions of sulfur dioxide and nitrous oxide by 12,000 pounds annually and reduces our emission of greenhouse gases by 1.4 million pounds annually.
In Dalton, 95 percent of the energy used to produce US currency and security papers is taken from a community waste-to-thermal energy supplier.
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:
“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.”