How BNP Paribas is Tackling Europe’s E-Waste Problem

SEATTLE (Scrap Monster): Electronic waste (better known as e-waste) is one of the fastest-growing waste streams around the world today. 

The International Telecommunication Union estimates that 53.6 million tonnes of e-waste were generated worldwide in 2019, with less than 20% properly recycled.

The rapid turnover of IT equipment — driven by technological advancement and planned obsolescence — only exacerbates this issue. 

With that being said, demand for refurbished technology is growing all the time.

"People are going through a kind of crisis in buying power," explains Reynold Simmonet, Co-Founder of Dipli, a French company facilitating the refurbished mobile phone market across Europe. 

"They have less money in their bank accounts since COVID-19 and now they're not willing to spend one thousand euros every 24 months on a phone."

In essence, there is a gap in the market for cheap and reliable refurbished technology. BNP Paribas, the French finance giant, is now staking a claim to fill that gap.

BNP Paribas has unveiled a new IT refurbishment located in Buchelay, France, aimed at tackling electronic waste across Europe.

At 3,500 square metres, the new refurbishment and remarketing hub is huge. 

When operating at full capacity, the centre is designed to process up to 400,000 IT devices each year, including equipment from the bank's operations and its corporate clients across Europe.

With this project, BNP Paribas hopes to champion circularity and promote sustainable technology management.

 The banking group's venture into circular technology began in 2019 with the formation of a joint venture with 3StepIT, a Nordic company with a focus on closing the loop on tech lifecycles. 

At the venture's launch, Jarkko Veijalainen, Chairman of 3 Step IT, explained: "This joint venture enables us to serve our customers across Europe. We wanted a strong partner to help us spread our service concept globally."

The partnership has continued to develop, with the Buchelay facility representing its latest in a series of impressive achievements.

 Courtesy: www.technologymagazine.com