(BOE) has decided to keep using polymer, an ingredient containing beef for its banknotes.

The new polymer £5 note featuring Sir Winston Churchill Joe Giddens/WPA Pool | Getty Images News | Getty Images

The (BOE) has decided to keep using polymer, an ingredient containing beef, for its banknotes despite a backdrop of animal rights activists angered by the move. The U.K.'s central bank said on Thursday that it would continue using the substance in future print runs, and that the only other viable options to printing polymer notes was to use chemicals derived from palm oil. Concerns were raised over the latter option as palm oil has been linked to serious environmental issues surrounding deforestation, climate change and the survival of endangered species. The BOE's decision followed a lengthy consultation involving 3,544 people. Of those who expressed their thoughts, 3,010 (88%) were against the use of animal-derived additives and 1,472 (48%) were against the use of palm oil derivatives. Just under a third of respondents (31%) expressed preference against the use of both animal and palm oil derivatives.

Bank of England governor Mark Carney poses with a new polymer five pound note on September 13, 2016 in London Stefan Wermuth/WPA Pool | Getty Images News | Getty Images

"The Bank fully recognizes the concerns raised by members of the public, both prior to and during the consultation, and has not taken this decision lightly," the BOE said in a statement on Thursday. "The Bank also understands that the decision it has reached may not address the concerns of all parties, but in making this decision, the Bank has considered very carefully the relevant factors and taken into consideration all of its objectives, including its responsibility to maintain confidence in the currency through the issuance of high quality, secure bank notes and achieve value for money for taxpayers." Polymer will be used in the printing of the new £20 and £10 notes, and will still be used for the printing of future runs of the £5 banknote. Earlier this year, . The introduction of the controversial note led to protests by vegan-led animal rights activists last November, which consequently prompted the institution to launch an investigation into better substitutes for the ingredient.

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