In an unprecedented alliance, Lombard, the preeminent asset finance provider in the United Kingdom and a subsidiary of NatWest Group, has joined forces with Rigby Capital and SCC to furnish comprehensive technology services, empowering businesses to invest in cutting-edge technology, access indispensable services, and champion their sustainability ambitions.
This collaborative endeavor is poised to empower enterprises in enhancing the sophistication of their IT infrastructure while significantly curbing the surge of electronic waste, thereby contributing to SCC’s ambitious objective of averting the disposal of over a million electronic devices into landfills within the next half-decade.
Lombard, the financial arm of NatWest Group, in conjunction with Rigby Capital and SCC, proudly proclaims a groundbreaking partnership that endorses an innovative as-a-service solution. The primary aim is to thwart the relegation of more than a million electronic gadgets, encompassing company-owned mobile phones and laptops, to the wastelands of landfills over the ensuing five years. This pioneering collaboration offers enterprises access to a holistic technological solution, poised to elevate the efficiency of their IT infrastructure, all while mitigating the environmental consequences entailed in the disposal and renewal of electronic devices.
Electronic waste stands as the swiftest proliferating waste category worldwide, casting an ominous shadow over the environment. Annually, approximately 50 million tonnes of electronic and electrical waste (e-waste) are generated, with merely 20% undergoing formal recycling. Without decisive action, this voluminous waste stream is anticipated to more than double by 2050, culminating in an annual tally of 120 million tonnes.
By virtue of their partnership with Rigby Capital and SCC, Lombard aspires to simplify the process of electronic waste reduction for enterprises and espouse the principles of the circular economy, with SCC pledging a zero-waste-to-landfill commitment. Through this novel collaboration, businesses shall gain access to an all-encompassing solution. This will empower them to invest in and deploy the requisite hardware and software, oversee the indispensable services they necessitate, and furnish tangible evidence of the recycling and reutilization of their electronic devices at the culmination of their life cycles, utilising well-established avenues leading to secondary markets. Additionally, businesses opting for this as-a-service solution to fulfill their technological requisites stand to reap the benefits of the inherent flexibility and simplicity encapsulated within a singular contractual agreement.
Ian Isaac, the Managing Director of Lombard, articulated: “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 to 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.”
Simon Everidge, the Managing Director of Rigby Capital, remarked: “We are delighted to support Lombard through our close collaboration, enabling them to help their customers achieve their ESG objectives. IT asset finance is no longer just about funding, it’s about full life cycle management of assets and particularly the management of end-of-life assets. Rigby Capital and the operational capabilities in SCC, with its market-leading IT recycling facilities, can provide complete end-to-end management of IT assets for Lombard and its customers. The circular economy and ESG demands on everyone in the supply chain, including customers, suppliers, funders, asset managers and manufacturers, is only going to intensify in the next five years; we are delighted to collaborate with Lombard and jointly commit to helping support the ESG agenda.”