2 November 2023: Lombard, the asset finance arm of NatWest Group, Rigby Capital, and SCC, have today announced a new collaboration2 supporting an as-a-service solution that aims to stop over a million electronic devices such as company mobile phones and laptops from becoming landfill over the next five years. The collaboration gives businesses access to an end-to-end technology solution that can improve the efficiency of their IT estate, whilst reducing the environmental impact involved in the disposal and refresh of their electronic devices.
Electronic waste is now the fastest growing waste source in the world and it’s a major problem for the environment. Each year, approximately 50 million tonnes of electronic and electrical waste (e-waste) are produced; only 20% is formally recycled. If nothing is done, the amount of waste will more than double by 2050, to 120 million tonnes annually3.
By collaborating with Rigby Capital and SCC, Lombard aims to make it simpler for businesses to reduce their electronic waste and support the circular economy, with SCC committing to send zero waste to landfill. Through this new collaboration, businesses will have access to an end-to-end solution; supporting them to invest in and install the hardware and software they need, manage the services they require, and be able to evidence how their electronic devices have been recycled and re-used at the end of their lifecycles, utilising well-established routes to secondary markets. Additionally, businesses using this as-a-service solution to support their technology requirements can benefit from the flexibility and simplicity it provides 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 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, Managing Director of Rigby Capital said:
“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.”
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Notes to editors
- ‘Lombard, the UK’s largest asset finance provider’ is from the Asset Finance 50 report published by Asset Finance Connect in association with Asset Finance Policy Alfa-AF50 UK 2022/2023 (assetfinanceinternational.com)
- Lombard, the market-leading asset finance provider and part of NatWest Group, is collaborating with Rigby Capital, part of the Rigby Group. Rigby Capital provides funding for a wide range of technology solutions, including those provided by their sister company SCC, the largest independent IT services company in the UK.
- According to the latest report from the Platform for Accelerating the Circular Economy (PACE) and the UN E-Waste Coalition.
Security in the form of guarantees and indemnities may be required. Product fees may apply. Finance is only available for business purposes. Eligibility criteria and T&Cs apply (Lombard North Central plc. Registered office: 250 Bishopsgate, London, EC2M 4AA). Lombard provides funding to facilitate Rigby Capital and SCC transactions. The IT products and services are provided by Rigby Capital Limited (Bridgeway House, Bridgeway, Stratford-upon-Avon, Warwickshire, CV37 6YX) or Specialist Computer Centres PLC (James House, Warwick Road, Birmingham, B11 2LE). This arrangement ensures that Lombard customers have access to a wider range of products and services that meet their technology needs.
For more information on this press release please contact Lucy Chislett, Media Relations Manager, on lucy.chislett@natwest.com or 07974864900.
