Pascal Layan, deputy chief executive officer of BNP Paribas Leasing Solutions, has appeared on French television show Green Reflex to discuss the circular economy and remarketing of equipment.

Speaking to presenter Erwan Morice, Layan detailed an overview of the leasing process, explaining how ownership is retained by the lessor and how remarketing is integral to many sectors.

Of an example sector BNP Paribas Leasing Solutions worked in, Layan said: “BNP Paribas Leasing solutions works with technological equipment including smartphones, laptops, and photocopiers. For remarketing this equipment we will go through a logistics system, where we will do the repairs needed, such as destroying customer data [on the remarketed device].

“In another very different sector we work in, a combine harvester, when well maintained, has a high resale value. Combine harvesters, can be used, depending on the original usage for up to ten years, so it is a material that can have two, even three different lives depending on the use that has been made.”

Continuing on the subject of a circular economy, Layan said: “With a smartphone, a few years ago we threw them away once the technology became obsolete. Today, there is a huge market for resale, and it is a market which makes it possible to remarket it for a second life. Another thing that is very interesting, is that it allows us to integrate the value of resale of the asset in the original price of the lease. So, the customer will actually benefit from our ability to reconfigure the material and offer it to another client.”

According to Layan, for a smart phone that has been used for three or four years, in 98% of cases BNP Paribas Leasing Solutions is able to reconfigure and find a second life for the equipment. The company also has partners who will recycle raw martials and reinject them eventually into the circuit.

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Earlier this month BNP Paribas Leasing Solutions made appointments to the role of country supervisor and managing director of the technology solutions international business line.