CSR: why financial rental is a weapon against waste

Nowadays, more and more companies are involved in Corporate Social Responsibility (CSR). This is particularly the case for companies that use financial rental to acquire equipment, rather than a more traditional method of purchase - for example, a bank loan. Indeed, financial rental could well be a weapon against waste and contribute to the preservation of the environment: a key pillar of CSR. Why? How? We explain...

The circular economy: a key pillar of CSR

In 2011, the European Commission defined CSR as "companies’ responsibility for the effects they have on society". CSR thus covers major themes such as responsible purchasing, equality in the workplace, and the circular economy, a principle that includes financial rental.

The circular economy, as opposed to the linear economy inherited from industrialisation, consists of producing goods and services in a sustainable manner, minimising the consumption and wasteful use of resources, as well as the production of waste. It is a new economic model that aims to move away from the "throwaway" mentality and address different issues:

  • preserving exhaustible resources
  • preserving the environment by minimising carbon footprints
  • enabling the economic and industrial development of local regions in a sustainable way
  • reducing waste and wastefulness, notably through recycling.

Is financial rental a CSR driver?

The circular economy is based on various pillars such as sustainable procurement (taking into account the environmental impact of the resources used), responsible consumption (taking into account the environmental and social impacts at all stages of the product's lifecycle, whether the buyer is public or private) and the functional economy (also called the "usage economy"). The latter concept is intended to promote use over possession, the sale of a service rather than a physical asset. And that's exactly what the financial rental proposed by Olinn is all about.

Rather than buying an asset or piece of equipment, you rent it over a long period of time. You thus pay for the use of the equipment during the time it is provided, and not for its ownership. At the end of the contract, Olinn will take back, recondition and recycle your old equipment through specialised channels. Thus, when you renew your equipment, you always have access to state-of-the-art machines and are part of a responsible and sustainable business model.

Financial rental: managing the various lives of the product

Financial rental not only provides a piece of equipment, but also covers maintenance and returns. For example, if you opt for the financial rental system for your computer or mobile equipment, it will be reconditioned and given a new life with businesses or individuals. If it is at the end of its life, its components can be recycled. This limits waste, since computers are not thrown away when they are no longer capable of satisfying your needs.

The same principle applies to a fleet of vehicles: at the end of your contract, we take back your vehicles and replace them with newer, more fuel-efficient models, for example electric or hybrid vehicles. In addition, your cars are always well maintained, and therefore less polluting.

This principle can also apply to medical equipment, with maintenance service included, and equipment replacement where necessary. Companies that opt for financial rental to obtain what they require are thus part of a CSR model. Its objective: to limit wastefulness and extend the product's lifecycle, while guaranteeing the company's efficiency.

Olinn helps you manage your professional equipment!