DLL received the 2023 Circular Economy Model Award from Leasing Life, a European leasing industry journal, 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 that includes 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 for the award 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 to be considered established wisdom within the asset finance and leasing sectors. The awards jury said: “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.”

“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,” Gaurav Sharma, global head of circularity and life cycle asset management at DLL, said. “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.”