Equipment finance and leasing firm Quadrent has launched Australia’s first ever equipment ‘Green Lease’ product to help businesses reduce the amount of e-waste they are producing.
How will Green Lease help businesses reduce e-waste?
According to the Australian Bureau of Statistics’ latest Waste Account, Australia disposes of 539,000 tonnes of e-waste in a year. The new financial product aims to reduce these figures, and make it easier for businesses to make a measurable and tangible difference. Quadrent’s Green Lease enables large corporate and government organisations to fund their technology purchases such as laptops, mobile phones, screens, and other office items, via a lease.
At the end of the lease term, they are passed back to Quadrent who responsibly recycle and repurpose the technology, as well as donate a portion of high-spec and high-quality technology devices to the young Australians in our communities that need them most.
Australia generates almost 22 kilograms of e-waste per person each year, well above the global average of about 7 kilograms, and the volume is forecast to increase 40% by 2030. Yet while many Australians take having access to use a laptop, a mobile phone and the internet for granted, 800,000 Australian kids are at risk of being digitally excluded.
How critical has Quadrent been for Aussie businesses?
“We’re helping large businesses disrupt the traditional supply chain, procurement and ownership models associated with tech, and simultaneously solve two of Australia’s most pressing problems: e-waste and digital inequality,” says Martyn Masterson, CEO at Quadrent.
“In the last few years, we have reshaped our core leasing services, which extend the life of assets and reduce the level of waste by up to 10 times. The launch of our Quadrent Green Lease is not only another step in our commitment to sustainability, but will help our clients measure their environmental impact and improve their social contribution,” said Martyn.
“We are giving large organisations a way to be at the forefront of innovation and digitisation while reducing e-waste and emissions, and helping vulnerable communities around Australia get online and take part in the digital economy,” Martyn further commented.
Green finance has become popular in the world of business, with some touting it as a way to incentivise lower carbon emissions. Improving sustainability is also a priority for companies wanting to lower their own cost of capital by meeting ESG goals, or in an effort to appeal to employees and consumers who are becoming increasingly socially conscious.