Rigby Capital partners with Lombard to help financial professionals recycle their customers’ high-tech hardware.
The deal will see Rigby and its channel arm SCC help recycle laptops and mobile phones, with the aim of preventing 1 million items from ending up in landfill over the next five years. .
The channel player provides an as-a-service option that Lombard presents to customers who want to dispose of older technology.
The service allows users to track how their technology is disposed of, both in terms of recycling or reclamation into the secondary market, as well as providing options for equipment upgrades.
Ian Isaac, managing director at Lombard, said the whole company was committed to sustainability goals and being able to bring older technology into the circular economy had wide-ranging benefits.
“Companies today need to invest in the latest technology to achieve sustainable growth, but are under pressure to reduce their carbon footprint,” he said.
“Through this unique collaboration with Rigby Capital and the wider 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 this solution will help prevent at least one million electronic devices such as mobile phones and laptops from ending up in landfills,” he added.
From Rigby Group’s perspective, this partnership was seen as an opportunity to highlight the relationship between finance and sustainability.
“IT asset finance is no longer just about raising money, it’s about managing the entire lifecycle of an asset, especially at the end of its useful life,” said Simon Everidge, managing director at Rigby Capital.
“With Rigby Capital and SCC’s operational capabilities with our market-leading IT recycling facility, we are able to provide Lombard and its customers with complete end-to-end management of their IT assets: customers, suppliers, funders and asset management. “Circular economy and ESG demands on everyone in the supply chain, including companies and manufacturers, will become even stronger over the next five years,” he added.
Last month, the industry was given the opportunity to highlight its recycling efforts with Electronic Waste Day, warning that too many devices continue to end up in landfills.
A recent report from the Platform for Accelerating the Circular Economy (PACE) and the United Nations E-Waste Coalition states that around 50 million tonnes of e-waste is produced and only 20% is formally recycled .
SCC is vocal about its ESG commitments and is keen to plant trees and install solar panels on the roof of its Birmingham data center to reduce energy consumption.
SCC’s parent company, Rigby Group, has already publicly stated that it aims to achieve net zero by 2040.
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