Lombard, the asset finance division of NatWest Group, has teamed up with Rigby Capital and SCC to launch a collaborative effort aimed at addressing the pressing issue of electronic waste, or e-waste.
According to a press release, the partnership introduces an as-a-service solution designed to prevent over a million electronic devices, including company mobile phones and laptops, from ending up in landfills over the next five years.
E-waste is now one of the world’s fastest-growing waste streams, posing significant environmental concerns. Annually, approximately 50 million tonnes of e-waste is generated, with only 20% being formally recycled. Without intervention, this figure is projected to more than double to 120 million tonnes by 2050.
In response to this crisis, Lombard, in collaboration with Rigby Capital and SCC, aims to provide businesses with a streamlined solution for reducing electronic waste and promoting a circular economy. SCC has committed to sending zero waste to landfills. Through this joint initiative, businesses will gain access to a comprehensive solution that enables them to invest in and deploy the necessary hardware and software, manage required services, and document the recycling and re-utilisation of electronic devices at the end of their life cycles, using established pathways to secondary markets.
Moreover, businesses opting for this as-a-service solution to meet their technology needs can enjoy the benefits of simplicity and flexibility under a single contract.
Ian Isaac, Managing Director of Lombard, said: “Today’s businesses need to invest in up-to-date tech to achieve sustainable growth, but they are under pressure to reduce their carbon footprint. That’s why Lombard is supporting a complete solution that enables businesses to access the technology they need to thrive, whilst reducing the wastage involved in the refresh of IT assets.
“Through this unique collaboration with Rigby Capital and the broader Rigby Group, we can not only help businesses access the technology they need, but also help them achieve their sustainability goals. Over the next five years we believe that this solution will help to stop at least a million electronic devices like mobile phones and laptops from becoming landfill.”
