The circular economy is no longer just a concept; it has reached “megatrend status,” according to The Circular Economy Foundation. Over the past five years, discussions and reports about the circular economy have nearly tripled, reflecting its growing significance. Companies are recognizing the potential of this economic model to align with their ESG (environmental, social, and governance) goals, optimize operations, and drive sustainability and profitability. 

One innovative way organizations are embracing circularity is through product-as-a-service (PaaS) finance models. These models offer a streamlined, sustainable approach to managing assets, minimizing waste, and maximizing resource efficiency. Here’s a closer look at how PaaS works and how it can help achieve your ESG goals. 

What is Product-as-a-Service? 

In PaaS models, customers pay for the outcomes or services a product delivers rather than owning the product outright. Instead of making a large upfront purchase, businesses pay a subscription fee, while the provider retains ownership of the product throughout its lifecycle. 

These contracts, often structured as operating leases, typically include value-added services such as procurement, maintenance, and end-of-life management. When the lease ends, the asset is returned to the provider, where it can be repaired, refurbished, or recycled, reducing waste and preserving valuable resources. 

Now, let’s explore three ways PaaS models support ESG objectives. 

1. Accelerate your investment in green technology 

Transitioning to greener operations is a cornerstone of ESG strategies, but high upfront costs can be a barrier to adopting sustainable technologies like electric fleets, renewable energy systems, or battery storage. PaaS financing eliminates this hurdle by spreading costs over manageable monthly payments, enabling faster adoption of green tech. 

PaaS contracts often come with additional services, such as training and maintenance, helping organizations improve operational efficiency and lower resource strain. For manufacturers, this approach also enhances customer relationships. 

Collaboration between manufacturers and financial institutions further strengthens these contracts, enabling manufacturers to scale PaaS offerings without impacting their balance sheets. PaaS is also a great way to gather customer insights and enhance marketing strategies. This win-win approach benefits businesses and boosts industry-wide sustainability efforts. 

2. Leverage data insights to optimize sustainability 

PaaS models often incorporate advanced asset management tools that provide real-time insights into product usage, location, and health. These data-driven systems empower businesses to maximize efficiency, reduce waste, and minimize emissions. 

Take the agriculture industry, for example. Farmers use precision sensors and software embedded in PaaS contracts to automate operations, optimize resource use, and reduce the environmental impact of chemicals and fuel. Similarly, other industries benefit from better asset utilization, which enhances productivity while driving sustainability. 

By integrating these data-driven tools, organizations can make smarter decisions about asset deployment, renewal, and disposal, directly supporting their ESG objectives. 

3. Ensure sustainable end-of-life management 

One of the standout benefits of PaaS models is the built-in circular management of assets. Since ownership remains with the provider, manufacturers are incentivized to extend product lifecycles through repair, refurbishment and recycling. 

This approach not only reduces environmental impact but also shifts the responsibility of sustainable disposal away from businesses. Many PaaS providers include services like reverse logistics, data sanitization, and compliance with local recycling regulations in their contracts, making it easier for organizations to meet their ESG goals without additional burdens. 

A circular future 

Meeting ESG expectations from investors, regulators, and customers is now a top priority for organizations worldwide. The circular economy provides a practical roadmap to grow sustainably, and PaaS models are a powerful way to integrate circularity into your business operations. 

By embracing PaaS, organizations can eliminate the complexities of traditional asset ownership, access cutting-edge green technologies, and create long-term value for all stakeholders. At BNP Paribas Leasing Solutions, we are committed to helping our partners and clients advance their sustainable transition, promoting circular economy principles, and driving innovation through PaaS business models. 

Let’s work together to build a more efficient, sustainable future. 

PaaS can accelerate the transition to a Circular Economy by extending the lifespan of assets and maximising resource utilisation.

BNP Paribas Leasing Solutions, has published an in-depth research report spanning industries including IT, green technology, agriculture, healthcare, transportation, and construction, unveiling the transformative potential of Product as a Service (PaaS) in enabling the Circular Economy. The report titled, “The Circular Opportunity – Harnessing the Power of Product-as-a-Service”, presents a clear case for PaaS as a practical, scalable business model for driving sustainable change. 

The report not only demonstrates the environmental benefits of PaaS but also highlights its economic value. Business can decouple growth from resource consumption while addressing challenges such as supply chain disruptions, price volatility, and resource dependence.  

The Circular Economy Imperative

 The Circular Economy prioritises designing products to remain in circulation for as long as possible, extracting maximum value and use from all raw materials, products and waste. Despite this vision, only 7.2% of the global economy is currently circular, and the share of secondary materials we consume has dropped 21% since 2018.[1]

The study emphasises PaaS as a key driver in accelerating this shift. Under this model, customers pay for the use or value of a product rather than owning it outright, while ownership remains with the provider. Since the provider’s revenue depends on efficient product use, they are incentivised to minimise waste, reduce resource consumption, and extend the product’s lifecycle. This model has the potential to transform industries like agriculture, construction, green technology, and IT by promoting asset longevity and resource optimisation. 

Unlocking Opportunities Across Industries 

The report illustrates the important role of cross-sector collaboration between financial institutions, manufacturers, dealers and specialist service providers to realise the benefits of PaaS in enabling the Circular Economy. By highlighting implementation challenges and fostering collaboration, the report reveals how stakeholders can unlock the full potential of sustainable business models that drive both economic growth and environmental conservation. 

Backed by case studies of successful PaaS in action and exclusive industry insights, the report discusses implementation pathways for businesses. This includes navigating regulations, adopting legally binding risk-sharing agreements and leveraging AI for asset residual value assessments. 

Anne Pointet, Head of Company Engagement at BNP Paribas: 

“This report provides actionable insights on how PaaS can enhance usage resource efficiency, extend product lifecycles, and offer cost-effective solutions for businesses to reduce their carbon footprint. By moving from ownership of products to a service-based model, PaaS is transformative for manufacturers and can enable them to embed sustainability into their operations and strategies.” 

Neil Pein, CEO of BNP Paribas Leasing Solutions, comments: 

“The Circular Economy offers a transformative alternative to the traditional linear model by maximising asset value and minimising waste. Sustainable finance and innovative models like Product-as-a-Service (PaaS) enable circularity, unlocking new revenue streams for manufacturers, fostering stronger customer relationships, and supporting investments in innovation and sustainability.”  

The report The Circular Opportunity Harnessing the Power of Product-as-a-Service can be read in full here.

ENDS 

This report has been commissioned by BNP Paribas and BNP Paribas Leasing Solutions. The research was conducted by Do Well Do Good, a purpose-led strategy consultancy. The report aims to contribute to advancing Product-as-a-Service (PaaS) business models, in line with the European Union’s efforts to promote the transition towards a circular economy.  

The report offers an overview of the role of the PaaS in the circular economy ecosystem. It also explores two key sectors in depth, examining how agricultural equipment and green tech have responded to opportunities and challenges presented by PaaS models. Additional insights have also been gathered across four other sectors – heavy vehicles, healthcare, IT, and construction. Interviews were conducted with 28 industry experts across six industries.  

About BNP Paribas Leasing Solutions 

Press Contacts : 

BNP Paribas Leasing Solutions : Suhale VORAJEE – suhale.vorajee@bnpparibas.com  Aspectus Agency : Arthur INSTONE – bnpparibas@aspectus.com

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[1] Circular Economy Foundation, The Circularity Gap Report, 2024, https://www. circularity-gap.world/2024 (Accessed: 2024) 

• New 3,500 square metre IT refurbishment and remarketing center in the Yvelines department will support businesses to maximise the lifespan of their IT devices through refurbishment, promoting a circular economy.
• Operated by BNP Paribas 3 Step IT, the centre aims to handle equipment from both the Bank’s clients and BNP Paribas entities in continental Europe.

BNP Paribas has opened a new IT refurbishment and remarketing centre in the Yvelines department (78), reinforcing its commitment to addressing the growing challenge of electronic waste in Europe. This investment aligns with BNP Paribas’ commitment to advancing the circular economy by extending the lifecycle of IT equipment such as laptops, desktops, mobile phones and tablets.

This centre is operated by BNP Paribas 3 Step IT, a joint venture launched in 2019 between the professional equipment financing subsidiary of BNP Paribas, BNP Paribas Leasing Solutions, and the Finnish company 3stepIT, a Nordic leader in circular technology services.

BNP Paribas 3 Step IT aims to gradually increase the processing capacity of the centre, which could reach up to 400 000 reprocessed IT equipment per year, with a first target of 100 000 equipment by the end of 2025.

With this new centre, BNP Paribas 3 Step IT allows the Bank to provide more efficient and sustainable IT lifecycle management services to its clients across Europe, as well as to its own entities. The centre will also operate a ‘buyback’ service (also known as IT Asset Disposition or ITAD) where businesses can send their decommissioned IT equipment knowing it will be either refurbished or responsibly recycled, with data securely and fully erased.

Carmen Ene, CEO of BNP Paribas 3 Step IT states:

The investment in this centre underscores BNP Paribas’ commitment to advancing the circular economy in Europe, aligning with the European Union’s ambitious goals to promote circularity and sustainable resource use. This also marks a significant milestone for BNP Paribas 3 Step IT, reinforcing our mission to help clients maximise the value of their technology while reducing electronic waste.

Neil Pein, CEO of BNP Paribas Leasing Solutions adds:

This is a major step for BNP Paribas, strengthening its commitment to supporting clients in their transition to a more resource-efficient and low-carbon use of their IT assets. This centre also upholds a responsible employment policy, which values and supports people with disabilities, those in social reintegration, and older adults.

About BNP Paribas

BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 63 countries and has nearly 183,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

About BNP Paribas Leasing Solutions

BNP Paribas Leasing Solutions offers capital-efficient business equipment financing solutions in key sectors including agriculture, construction, transportation, materials handling, ICT, healthcare, and green tech. Drawing on its 70-year history, its partners and clients rely on its market expertise, asset know-how, and advisory services to propel their growth, transformation, and transition to a low-carbon circular economy. Present in 18 countries across Europe and Turkiye, and employing over 3000 experts, BNP Paribas Leasing Solutions offers vendor finance solutions in the USA and Canada in partnership with Bank of Montreal, and in China through Jiangsu Financial Leasing. In 2024, BNP Paribas Leasing Solutions advanced €16.3 billion in asset finance and presently manages a €40.4 billion leased asset portfolio. BNP Paribas Leasing Solutions is fully owned by BNP Paribas and is positioned within the Group’s Commercial, Personal Banking & Services division. For more information, visit leasingsolutions.bnpparibas.com

About BNP Paribas 3 Step IT

BNP Paribas 3stepIT is a leading provider of circular technology services, helping businesses transition to a more sustainable model for all their technology needs. As a joint venture between BNP Paribas Leasing Solutions and 3stepIT, BNP Paribas 3 Step IT offers end-to-end services that enable businesses to procure, manage, and refurbish their digital assets securely and efficiently while contributing to a more sustainable and responsible tech consumption model. With a presence in seven European markets and four Nordic countries thanks to 3stepIT, BNP Paribas 3 Step IT partners with a wide range of businesses and organisations to drive digital transformation while embedding sustainability at the core of IT operations. To learn more, visit 3stepit.bnpparibas

The European Union’s ambitious goal of becoming the first climate-neutral continent by 2050 has spurred industries to transform their product offerings, leading to the development of numerous green technologies, from electric vehicles to battery-powered solar storage systems. As a significant contributor to greenhouse gas (GHG) emissions, the manufacturing sector plays a pivotal role in driving the transition to a low-carbon future. 

In this challenging environment, product-as-a-service (PaaS) models can empower manufacturers to strengthen their businesses, diversify their revenue streams, and deliver more sustainable outcomes for both their customers and the planet. 

A rich and diverse service offering 

The energy transition is driving significant business transformation, with organizations across industries adopting smart, green tech solutions on a large scale. From wind and solar power systems to energy-efficient heat pumps and electric vehicle charging infrastructure, businesses increasingly require sustainable solutions to future-proof their operations. 

PaaS models enable manufacturers to shift from single-product sales to a service-based approach. This encompasses multiple customer touchpoints throughout the asset’s lifecycle, including deployment, maintenance, and product renewal. 

A prime example of this approach is Schiphol Airport’s partnership with Signify (formerly Philips Lighting) to implement a circular lighting solution. This comprehensive lighting-as-a-service contract includes design, installation, maintenance, replacements, and sustainable end-of-life handling. The connected lighting system allows for immediate identification and repair of failures, enhancing efficiency and improving the customer experience. 

By adopting PaaS models, manufacturers gain numerous opportunities to engage with customers throughout the contract period, fostering trust and loyalty. Instead of shouldering the upfront investment, customers pay for the service they use or the agreed-upon outcomes. This creates a more dynamic and continuous sales cycle, reducing reliance on one-time product sales. 

Fulfilling producer responsibility 

The EU has implemented several regulations establishing Extended Producer Responsibility (EPR) frameworks, requiring producers to manage the entire lifecycle of their products, including end-of-life disposal. 

PaaS models are valuable tools for fulfilling EPR requirements. They allow manufacturers to retain ownership and track their assets. When an asset reaches the end of its useful life, it is returned to the manufacturer, enabling them to close the loop on materials and contribute to a circular economy. By retaining ownership and accountability, manufacturers are better positioned to meet their sustainability commitments. 

In a world increasingly focused on sustainability and circularity, PaaS models not only make sound business sense but also help pave the way for a greener, more resilient future. 

In a world grappling with resource scarcity and environmental challenges, the circular economy emerges as a groundbreaking approach to economic development. As the European Union sets its sights on becoming carbon neutral by 2050, the circular economy is a a transformative model that promises both environmental stewardship and economic opportunity. 

What is the Circular Economy? 

Traditional economic models follow a linear path: take resources, make products, use them, and discard them. The circular economy flips this script entirely. It’s an innovative approach designed to maximize the value of resources, minimize waste, and create a regenerative economic system. The core principle is simple yet powerful: keep resources in use for as long as possible, extracting maximum value while minimizing environmental impact. 

The statistics are stark. Currently, global resource consumption exceeds the Earth’s regenerative capacity by 1.7 times annually. Shockingly, about 90 percent of worldwide resources end up as waste. But the circular economy offers a compelling alternative, with analysts predicting it could unlock $4.5 trillion in economic growth by 2030. 

Enter Product-as-a-Service (PaaS) 

One of the most exciting innovations driving the circular economy is the Product-as-a-Service (PaaS) model. Instead of traditional ownership, customers pay for the service and outcomes a product provides. This approach fundamentally reimagines how we think about assets and consumption. 

In a PaaS model, responsibility for the asset remains with the provider, and customers pay periodic fees to use the product. This approach comes with significant benefits: 

• Reduced waste through extended product lifecycles 

• Incentives for manufacturers to create more durable, repairable products 

• Better asset tracking and management 

• Improved data collection for optimization 

How businesses can benefit 

Two primary financial solutions are emerging to embed circularity: 

1. Operating Leases: Provides access to assets with additional services, without the option to purchase 
2. Subscription-Based Services: Flexible contracts with recurring fees for product access 

These models introduce innovative billing approaches like pay-per-use and pay-per-outcome, creating more flexible and sustainable business relationships. 

The broader impact 

The circular economy isn’t just an environmental strategy – it’s a comprehensive business transformation. By simplifying product acquisition, maintenance and disposal, companies can: 

• Optimize operational and financial performance 

• Minimize waste 

• Make more informed decisions about asset management

Looking ahead 

As ESG reporting and environmental consciousness grows, businesses that embrace circular economy principles will gain a significant competitive advantage. The transition requires reimagining product design, business models, and customer relationships. 

The European Union’s ambitious carbon-neutral goal by 2050 is driving this change, but the opportunity is global. Companies across sectors – from construction and agriculture to IT and healthcare – can leverage product-as-a-service models to meet new environmental expectations while unlocking economic value. 

The circular economy represents more than a trend. It’s a fundamental shift in how we understand resources, consumption, and economic growth. For forward-thinking businesses, it’s not just about reducing environmental impact – it’s about creating more resilient, efficient, and innovative business models. 

Are you ready to close the loop? 

The transition to a circular economy is no longer a distant aspiration; it’s a pressing reality. The EU’s ambitious target of a fully circular economy by 2050 demands a fundamental shift in how we design, produce, distribute, and consume goods. This necessitates a systemic overhaul, requiring the development of new technologies, processes, and innovative business models. 

One of the most promising tools in this journey is Product-as-a-Service (PaaS). This innovative business model offers a pathway for organizations to adopt and embed circularity into their operations effectively. At BNP Paribas Leasing Solutions, we explore this opportunity in depth in our latest report, Harnessing the Power of Product-as-a-Service, which examines the role PaaS can play in transitioning from a linear to a circular economy. 

What is PaaS?

PaaS reimagines how goods and services are delivered and consumed. Traditionally, consumers or businesses purchase ownership of a product outright. Once it reaches the end of its lifecycle, it is often discarded – characteristic of the linear, single-use economy. 

In contrast, PaaS shifts the focus from ownership to access. Instead of purchasing the asset, users pay for the value or benefits the product provides. The manufacturer or financier retains ownership throughout the product’s lifecycle, offering value-added services – such as maintenance, upgrades, and eventual recycling – on a subscription-style basis. 

Is PaaS relevant to your sector? 

The potential of PaaS extends across a wide range of industries, offering unique advantages for both businesses and the environment: 

• Agriculture: Farmers can access high-value equipment like tractors and harvesters through flexible subscription models, reducing upfront costs and improving cash flow. Manufacturers benefit from predictable revenue streams and the opportunity to optimize equipment utilization through data analytics. 

• Green Tech: PaaS simplifies the adoption of sustainable technologies like electric vehicles (EVs) by bundling vehicle purchase, charging infrastructure, and maintenance services into a single, predictable subscription. This reduces upfront costs for consumers and accelerates the transition to cleaner transportation. 

• Transportation: Truck-as-a-Service models, where operators pay per kilometre travelled, optimize vehicle utilization, reduce fuel consumption, and improve driver safety through advanced telematics and predictive maintenance. 

• Healthcare: PaaS models for medical equipment, such as MRI machines, ensure optimal utilization and reduce the burden of upfront capital investment for healthcare providers. Manufacturers can optimize equipment maintenance and extend the lifespan of assets through data-driven insights. 

• Information Technology: Device-as-a-Service models provide businesses with access to the latest technology while minimizing the risks associated with hardware obsolescence. Manufacturers can recapture value through device refurbishment and remarketing, extending the product lifecycle and reducing electronic waste. 

• Construction: PaaS models for heavy equipment allow construction companies to access the latest technology without significant capital outlay. Manufacturers can optimize equipment utilization, improve maintenance efficiency, and recapture valuable materials at the end of the equipment’s lifecycle. 

Key PaaS challenges 

While the potential of PaaS is significant, several challenges must be addressed to facilitate widespread adoption: 

• Developing robust data infrastructure: Collecting, analyzing, and sharing data across the value chain is crucial for optimizing PaaS models and measuring their environmental impact. 

• Building trust and transparency: Establishing clear contracts, ensuring data privacy, and fostering open communication between providers and consumers are essential for building trust and long-term relationships. 

• Addressing regulatory and legal frameworks: Adapting existing regulations and developing new frameworks to support circular business models and facilitate the transition to PaaS. 

• Investing in skills and training: Developing the necessary skills and expertise within the workforce to design, implement, and manage circular business models. 

Product-as-a-Service represents a powerful tool for driving the transition to a circular economy. By shifting the focus from product ownership to value delivery, PaaS models can unlock significant economic and environmental benefits. As businesses and policymakers embrace this innovative approach, we can move closer to a future where economic growth is decoupled from environmental degradation, creating a more sustainable and equitable future for all. 

For manufacturers and dealers in every industry, competition is fierce. Strategic choices about how to keep stock moving, improve cash flow and purchasing power, and offer customers greater flexibility can make a huge difference to the bottom line and give businesses significant competitive advantage. 

Leasing is a crucial part of the equation, with a range of solutions available to fund equipment as it moves down the supply chain from manufacturers to dealers to end users. But with so many options on the market, how do you find a trusted equipment finance partner that’s right for your business?

Global outlook, local knowledge

Today, borders are dissolving as businesses expand their enterprises internationally, trading in a global economy with complex supply chains, and comply with regulations across multiple jurisdictions. 

Navigating this environment demands trusted partners with a global outlook, who can support businesses to be flexible and resilient in the face of economic challenges, and adaptable to take advantage of the world of opportunities at their fingertips. 

But local knowledge is just as important. Finding a global asset finance partner with local teams on the ground that can offer tailored wholesale and retail asset finance solutions for each market and understand the day-to-day realities of doing business is crucial to success.

Unrivalled industry knowledge

Equipment manufacturers and dealers know their industries inside out and a good asset finance partner must too. One equipment finance solution does not fit all, and each industry requires tailored options and support. 

In the construction industry, for example, local authorities and the private sector are busy building cities fit for the future. But fluctuating payment schedules, rising material costs, and supply chain challenges means being able to plan investments is crucial. Asset finance can help, but only if businesses partner with a provider that has top sector experts on the team that can tailor bespoke working capital and financing solutions to meet client needs.  

With a finger on the pulse, the right asset finance partner will have specialist knowledge of your operating environment, industry trends, challenges, and opportunities, as well as the individual needs of your business. 

A one-stop-shop

Leading manufacturers and dealerships are streamlining operations and simplifying supply chains. Rather than dealing with multiple suppliers, complex invoicing and extra administrative burden, many are seeking a one stop shop for equipment finance, with tailor-made asset finance solutions for both clients and distribution networks, and options for every stage of the asset lifecycle, from commercial agreements to private label agreements, strategic alliances, and Joint Ventures.  

For example, Floorplan Finance can allows manufacturers to offer extended dealer payment terms for the purchase of inventory, enabling better cash flow, faster order fulfilment, and optimised asset management.  

Finding the right working capital and financing solutions can drive sales growth and promote long-term customer retention, through point-of-sale financing options, ranging from simple white-label programmes to fully integrated in-house financing operations. With the right partner, the result is seamless customer experiences, improved operational efficiency, and better financial control. 

Why BNP Paribas Leasing Solutions? 

• Global outlook, local knowledge: BNP Paribas Leasing Solutions operates directly in 17 countries, supporting partners with a local presence, and those operating multi-market, international businesses. We ensure our partners benefit from a global outlook, executed locally.  
• Unrivalled industry knowledge: With over 70 years’ experience, we are proud of the depth of our industry expertise. Today, we have more than over 50 international partnerships across Europe, supported by a team of experts in construction, agriculture, green tech, healthcare, IT, transport and materials handling, and more. 
• A one-stop-shop: We have tailor-made solutions for manufacturers and their distribution networks across every stage of the equipment lifecycle. We’ve streamlined our vendor finance offer so our partners can streamline and grow their businesses too.  
• Strong financial stability: BNP Paribas Leasing Solutions is a subsidiary of BNP Paribas, which was recognised by Euromoney as the ‘World’s Best Bank for Sustainable Finance‘ in 2023. With our strong financial record and diversity of expertise across the bank, our partners can be confident we will help navigate the business challenges that arise, no matter how complex.

BNP Paribas Leasing Solutions claims European Lessor of the Year at the Leasing Life Conference & Awards 2024.

BNP Paribas Leasing Solutions celebrated another successful year at the 21^st Leasing Life Conference and Awards. The prestigious event, held in Milan, brought together senior business leaders from the world of leasing to discuss industry trends and recognise outstanding achievements.

During the conference, Pascal Layan, Deputy CEO at BNP Paribas Leasing Solutions and Carmen Ene, CEO BNP Paribas 3 Step IT shared insights on the evolving leasing landscape. They emphasised the benefits of advanced ecosystems, especially within vendor leasing, as a way to solve client challenges and deliver exceptional customer value.

The evening culminated in the highly anticipated awards ceremony, where BNP Paribas Leasing Solutions was once again honoured with the title of “European Lessor of the Year.” This back-to-back win solidifies the company’s position as the leading leasing company in Europe. Additionally, BNP Paribas 3 Step IT was recognised for its outstanding contribution to the circular economy, receiving the award for “Best Circular Economy Model.”

“We are incredibly proud to be recognised by the industry for our commitment to excellence and innovation,” said Pascal Layan, Deputy CEO at BNP Paribas Leasing Solutions. “These awards are a testament to the hard work and dedication of our talented teams. We are grateful to our partners and clients for their continued trust and support.”

BNP Paribas Leasing Solutions remains committed to supporting its partners and clients in their transition to a low-carbon future. By leveraging and promoting sustainable financing solutions, the company is driving positive change in the asset finance industry.

BNP Paribas Leasing Solutions announced the appointment of Neil Pein as its new Chief Executive Officer, effective March 18, 2024. Pein succeeds Isabelle Loc, who has been promoted to Head of Commercial & Personal Banking in France and will join the BNP Paribas Executive Committee.

Pein, previously Head of Payments for BNP Paribas, brings extensive experience within the Group to his new role. He will report to Thierry Laborde, Chief Operating Officer of BNP Paribas and Head of Commercial, Personal Banking & Services (CPBS).

“With his extensive experience in the Group, Neil has all the qualities needed to support the development of Leasing Solutions, a business in which he knows the challenges and the teams. I’m sure that Neil will be able to take up the torch from Isabelle, who has successfully led the transformation of this business at the heart of the real economy,” said Thierry Laborde.

Neil Pein, 42, had held the position of Head of Payments for BNP Paribas since 2021, where he played a pivotal role in the business’s transformation. He rejoined the Group in 2018 and was instrumental in the creation of Axepta BNP Paribas, a business line serving retailers. Additionally, he spearheaded the development of “New Digital Business,” a unit that unites payment-related Fintechs within the Group, including Nickel, Floa, and Lyf.

Prior to BNP Paribas, Pein began his career in financial markets with Goldman Sachs. He joined BNP Paribas in 2007 as an equity derivatives trader before transitioning to the Group’s Financial Management department from 2013 to 2016. During this period, he focused on acquisitions, divestments, and capital optimization initiatives. In 2016, he was appointed Sales Director at BNP Paribas Leasing Solutions for technology equipment leasing in France.

Neil Pein holds a Master of Science degree from New York University and is a graduate of Ecole Polytechnique.

BNP Paribas Mobility today announced a new offering to simplify and accelerate the transition to electric vehicles for both companies and individuals across Europe. This comprehensive package, launched on a European scale, tackles a key barrier to electric vehicle adoption: convenient and affordable charging points, primarily where a majority of recharges* occur – at home and in the workplace. The initiative actively promotes the transition towards sustainable mobility.

The solutions, Arval Charging Services and Leasing Solutions Charge & Lease, cater to diverse needs:

• Arval Charging Services: Individuals leasing an electric vehicle through Arval gain access to a hassle-free home or office charging solution. This all-in-one package includes station installation, maintenance, and even removal and recycling if needed. For corporate clients, optional employee home charging reimbursement adds further value. Arval Charging Services combines perfectly with the existing Arval public charging offers, allowing customers to have access to charging everywhere they need.

• Leasing Solutions Charge & Lease: Corporate fleet managers can tailor a charging infrastructure package for their companies with various power levels, electric infrastructure, signage, and installation support. Shade huts and energy storage options are available as optional add-ons. This solution seamlessly integrates with existing fleets or alongside Arval’s electric vehicle leasing solutions.
  This offer can be combined with Arval’s existing Public Charging Card for convenient on-the-go charging, and with Arval’s SMaRT consulting approach to assist in selecting the right equipment (electric vehicles and charging stations) based on customer needs.

With Arval, a key player in long-term vehicle leasing and specialist in mobility solutions, and BNP Paribas Leasing Solutions, European leader in corporate equipment finance, this new offering reflects BNP Paribas Mobility’s commitment to a more sustainable future. Arval aims to have 350,000 battery electric vehicles in its global fleet by 2025, lowering CO2 emissions by 35% to an average of 93g per vehicle per kilometer. BNP Paribas Leasing Solutions, meanwhile, plans to finance €240 million in charging infrastructure across Europe by 2025, empowering companies on their path to net zero carbon emissions.

Arval Charging Services is launched in France since January 11, 2024, in collaboration with EDF Group** under the name Arval Charging@Home. It complements existing on-the-go and office charging solutions available within the broader Arval Charging Services and Leasing Solutions Charge & Lease framework.

With this innovative and timely offering, BNP Paribas Mobility is charging headlong into the future of electric mobility, making the switch easier, more convenient, and more affordable for everyone.

Alain VAN GROENENDAEL, Chairman and CEO of Arval, said, “As an international player in long term vehicle leasing and new mobility services, energy transition is at the heart of our strategy. We are proud to help accelerate and promote technological innovations that complement our electric vehicle leasing offer.” He added, “This solution sustains the global increase of electric vehicles in fleets, making accessible to their users convenient and more accessible charging points at home or at the office, cheaper than public charging.”

Isabelle LOC, CEO of BNP Paribas Leasing Solutions, said, “At BNP Paribas Leasing Solutions, our mission is to support the real economy by facilitating access to financing of less polluting equipment and helping our partners and customers transition to electric mobility. Switching to electric cars creates a massive need for charging infrastructure. A successful ecological transitionwill require a network of reliable charging infrastructures.”

*Demand for EVs is soaring. Is Europe’s charging station network up to speed? | Euronews

**Through its IZI by EDF and IZIVIA subsidiaries.

#BNPParibasMobility

About Arval :

Arval specialises in full-service vehicle leasing and new mobility solutions, leasing close to 1.6 million vehicles as at the end of June 2023. Every day, more than 8,000 Arval employees in 29 countries offer flexible solutions to make journeys seamless and sustainable for its customers, ranging from large international corporate groups to smaller companies and individual retail clients.

Arval is a founding member of the Element-Arval Global Alliance, a world leader in the fleet management industry, with more than 4.4 million vehicles in 56 countries. Arval was founded in 1989 and is fully owned by BNP Paribas. Arval is positioned within the Group’s Commercial, Personal Banking & Services division.

www.arval.com