DLL received the 2023 Circular Economy Model Award from Leasing Life, one of the top leasing industry journals in Europe, during the 20th Leasing Life Conference & Awards event in Budapest, Hungary.
Current market trends show a transition from ownership to usage, as well as a rise in pre-owned asset sales. These two trends form the basis of the Circular Economy; a concept including various closed material loops such as reuse, refurbishment and recycling. The Leasing Life Circular Economy Model Award is a new award that recognizes financial companies that have implemented operational solutions covering the full value chain from collection of used equipment to remarketing. Criteria consist of processes to source used equipment from off lease and/or trade in from existing fleets, refurbishment capabilities including data erasure and waste management, as well as remarketing capabilities.
The concept of the circular economy, once considered novel, has now evolved into established wisdom within the asset finance and leasing sectors. The awards jury cited, “One particular contender drew the judge’s admiration for its extensive historical track record of initiatives and comprehensive operation solutions that span the entire value chain. The winner’s impressive capabilities are reflecting its combination of central and local teams, specialized processes, and a robust asset management information system. Notably, the solutions by this winner are applicable across various asset classes and industry sections. It is with great pleasure that we announce that the recipient of the Circular Economy Model Award 2023 is DLL.”
DLL’s Asset Management & Asset Sales
DLL optimizes the value and lifecycle of assets by providing end-to-end financial solutions for the complete asset life cycle. To ensure we continue the life of an asset beyond the end of lease, DLL focuses on enabling processes by maximizing the opportunity to redeploy assets into the market and reach a broad audience of potential buyers and new customers. New service-based financial solutions ensure sustainable equipment reuse and the ability to create second (and third) life revenue streams. This circularity approach has the benefit of enabling new business models for our vendor partners and meeting the increasingly sustainable business needs of our customers. In a world faced with supply-chain issues and resource scarcity, it also contributes to the optimization of currently available resources, and it plays an important part in tackling climate change. A key aspect of DLL’s remarketing capabilities is working closely with the end-user; not only to understand their equipment use aspirations after the end of the lease term, but to strike the balance between usage of the equipment and its value.
Gaurav Sharma, Global Head of Circularity and LCAM at DLL, said “Circular Economy is a key lever for DLL to help identify new business opportunities, as well as to progress towards our own and partners’ sustainability targets. DLL’s Circularity and Life Cycle Asset Management Strategy is designed to help DLL’s partners transition to increased sustainable solutions. Together with partners and stakeholders we develop asset-specific strategies to create the most optimal solution for replacement, refurbishment, redeployment, and so on. We are very proud to receive the 2023 Leasing Life Circular Economy Model Award.”