05-04-2022 09:00

Green and upgraded: Nordea Finance ready with new circular IT leasing

Nordea Finance is now launching a new circular IT leasing product in Norway where the aim is to increase the number of recycled and reused computers, printers and other tech equipment.
Guy configures the computer for mining cryptocurrency

IT equipment production is very resource intensive and has a high carbon footprint. In addition, some of the components rank high in toxicity while others are recoverable and should be properly recycled.

Electronics waste is one of the fastest-growing waste streams in the EU, where less than 40% of e-waste is recycled. Significant value is lost when fully or partially functional products are discarded.

A solution to this is to take care of the whole lifecycle of the equipment. That is why Nordea Finance is now offering a new type of IT leasing product within our Sustainable Choice product family. 

Green, safe and easy

“We want to support our customers in their green transition and also contribute to achieving Nordea’s long-term environment and sustainability goals,” explains Ole Morten Skaugseth, Sales Director at Technology Finance, Nordea Finance Equipment. “Ensuring that employees have access to the right IT equipment is crucial for many companies, while renewal of it both has a high impact on costs and the environment. With our new circular lease product, we are extending the lifetime of IT equipment while the customer can be sure that outdated equipment is handled with respect for nature.”

The circular IT lease product will be offered to customers in Norway. The emphasis is on a safe and easy process for the customers: the equipment is picked up at the customer’s location and all data is deleted afterwards by authorised partners.

Together with a partner, Nordea Finance will deliver environmental reports with relevant figures for the leasing arrangement. This makes it easier for our customers to see the impact their leasing arrangement has on their own sustainability reporting.

How does it work?

The illustration shows how the circular lease works in practice.

Ole Morten Skaugseth sees the new offering as a good solution to several of the challenges around sustainability that many small or mid-sized companies deal with:

“Integrating sustainability into your business requires insights and resources as there are many regulations and standards to understand. We want to make it easy for companies to go from a “use-and-throw-away” model for IT equipment to a certified circular “use-and-reuse” model.” He adds:

“Our new offering is aligned with the EU’s Circular Economy Action Plan so it’s also a way for companies to future-proof their business, and I hope we are able to present more offerings based on circular thinking in the future.”

Want to know more about Nordea Finance?

Nordea Finance offers a wide range of asset finance, sales finance and receivables finance solutions. 

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