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How the asset finance industry is encouraging sustainability

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In recent years, the asset finance industry has focused itself on progressing into the digital world – but now that narrative has changed. Experts say the topic of discussion in the industry has moved from digitisation to sustainability, which they believe will make the industry more attractive.

GlobalData’s Leasing Life writer Athena Chrysanthou says: “BNP Paribas Leasing Solutions and 3stepIT recently announced a joint venture which prioritises sustainability and creating a circular economy.

“The venture offers a more sustainable way to manage technology life-cycles to help companies manage technology investments – primarily smartphones, tablets, PCs and laptops. One of the aims of the venture is reducing e-waste by extending the life of assets and reusing returned equipment.

“Some 97% of returned devices are refurbished for reuse with less than 3% being recycled as waste. This plays a key role in attempting to reduce the annual 50m-tonne global e-waste pile.”

Carmen Ene, chief executive at 3stepIT says: “The asset finance industry has an incredible role to play in the current environment as an enabler of the circular economy because we know the assets, we can prolong the life of the asset and give it a second life.”

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