Komatsu Group, a world leading manufacturer of construction, mining & utility equipment, and BNP Paribas Leasing Solutions, European leader in professional equipment finance, have decided to extend their Cooperation Agreement to the Nordic region.

The Agreement was first launched in 2018 in France, Germany, Italy, and then in Belgium and the Netherlands. As part of the extension, it was launched in Sweden in mid-October before being extended to Norway and Denmark in the years to come. It will allow Komatsu Group to support their clients’ growth and development in this high potential region through finance solutions for their equipment needs.

Arnault Leglaye, CEO of BNP Paribas Leasing Solutions in the Nordics said, “I’m very happy to see Komatsu Finance and BNP Paribas Leasing Solutions join forces to offer innovative and competitive finance solutions to Komatsu’s clients. The fact that this long-term partnership is now extending to the Nordics is only proof of our close collaboration. We are confident of the market potential and our synergies to make it a success.”

Johan Appelros, Sales manager for Komatsu Finance in the Nordic region said, “This is a long-term investment with the goal to offer Komatsu’s Nordic customers with sustainable and favorable investment terms. BNP Paribas Leasing Solutions is the perfect partner for us as we now establish in this region.”

When the European Commission launched the landmark EU Green Deal in December 2019 it set out a bold plan for the continent to transition to a sustainable economic future. Described as “Europe’s man on the moon moment”, in broad brush strokes it outlined its ambition to be the world’s first carbon neutral continent by 2050.

Four years on and the road map outlined in the Green Deal has delivered significant change, and today, Europe undoubtedly leads the world in the transition to a low carbon, circular economy.

But as climate change accelerates and we inch ever closer to the 2050 deadline, one thing is clear – unlike the moon landing, Europe’s final destination is still unknown and if the Green Deal is to be an equally historic success, the devil will be in the detail.

WHAT IS THE EU TAXONOMY? HOW DOES IT LINK TO THE TRANSITION TO A CIRCULAR ECONOMY?

The EU Taxonomy, Europe’s sustainable finance framework, is the place to dig into that detail. It underpins the Green Deal by setting a standard for economic activities that can be classified as environmentally and socially sustainable. It includes the transition to the circular economy as one of its key objectives and could help to unlock the trillions in finance needed to make circularity mainstream.

A recent taxonomy policy development has circular economy enthusiasts talking, with new guidelines that set out criteria to determine whether certain economic activity makes a “substantial contribution to the transition to a circular economy” – a transition that could be worth €1.8 trillion to the EU economy by 2030.

FROM A SIDE NOTE TO A KEY THEME

What caught my attention is that product-as-a-service (PaaS) has re-emerged as a key theme for the EU and an important lever for achieving the circular transition.

In 2020, PaaS was given just a passing mention as part of the 35 actions set out in the Circular Economy Action Plan (a major building block of the EU Green Deal), but through this taxonomy update the EU has signalled that it will prioritise PaaS as a mechanism to achieve the circular economy and, crucially, give organisations the criteria they need to implement it successfully.

The new technical guidance defines product-as-a-service models as “providing customers with access to products through service models, which are either use-oriented services, where ownership remains with the provider and the product is leased, shared, rented or pooled; or result-oriented, where the payment is pre-defined and the agreed result is delivered (i.e. pay per service unit)” (pg. 67).

It goes on to list a range of manufactured product groups that fit the bill, including textiles, electronics, furniture, and more (pg.67). This alone is a welcome step towards acknowledging the breadth of possibility that PaaS models can deliver.

However, the list is far from exhaustive, with medical tech, agricultural machinery, construction equipment, and automotives all notable omissions. Most, if not all, manufacturing sectors are being transformed by digitalisation at a rapid and increasing rate, meaning products become obsolete overnight and extracting the maximum value from resources, via circular models like PaaS, is paramount. The guidance will surely be broadened in future updates to capture the endless opportunities that as-a-service models can offer a multitude of industries.

The guidelines also set out criteria PaaS models must meet to be considered to be making a substantial contribution to the circular economy. First and foremost, the activity must “provide the customer with access to, and use of product(s), while ensuring that the ownership remains with the company providing this service, such as a manufacturer, specialist or retailer” (pg. 67).

THE LEASING INDUSTRY’S ROLE IN CIRCULAR TRANSITION

This is a call to arms for the leasing industry, which has an important role to play in helping organisations to implement systems that aid the circular transition. There is an opportunity here for lessors to build on our expertise in offering customers residual value pricing on assets (which inherently fosters the preservation of assets and their value) to offer a broad range of services covering the full lifecycle of an asset from asset management tools to data analysis to in-life maintenance support and sustainable end-of-life disposal.

Interestingly, the guidance also states that both a longer useful economic life through, for example, repair/refurbishment, and greater usage intensity (i.e. ride share services) are positive outcomes to be derived from PaaS models that will promote the transition to the circular economy (pg. 68). Clearly, the results for each of these approaches is very different because the more intensely a product is used, usually the shorter its life will be.

This is a powerful motivation for organisations to move away from traditional ownership models and work with lessors, who advocate for an optimum life of an asset rather than sweating an asset beyond its useful life, resulting in low value components with little opportunity for reuse. When managed properly, assets can deliver maximum value for organisations in their first lifecycle, be sustainably and securely refurbished and go on to fuel the second-hand market with high-quality products. These are the hallmarks of a truly circular economy.

Only three years after PaaS was just a side note in the EU Green Deal, it is now explicitly included in EU taxonomy, which is a hugely positive step forward. There’s still lots to do to create a framework that supports a truly circular economy and give investors and businesses the tools they need to implement circular solutions.

Setting these parameters will help the EU scale up sustainable investment, prevent greenwashing, and support organisations to transition to a more sustainable, future-proof way of doing business. Get this detail right and the sky really is the limit.

At the 17th Leasing Life Conference & Awards held on 17 March in Barcelona, Spain, we received the European Leaser of the Year award for the sixth time since 2011.

Organised by Leasing Life, Europe’s leading magazine in the leasing industry, the Leasing Life Awards recognise the greatest achievements of the European equipment finance industry and bring together key market players.

By giving us this award, the jury once again reiterated our position as the European leader in professional equipment finance. With a presence in 20 countries across 3 continents, our teams support the development of our clients and partners with solutions that are both global and adapted to local specificities.

This award also recognises the diversity of solutions and services. We are the only player in the industry offering a range of solutions and services for each stage of the equipment life cycle and that respond to the different needs of our clients, partners and their distribution networks.

The award was received by Pascal Layan, Deputy CEO, and Pascale Favre, Head of the International Technology and Lifecycle Solutions Business Line.

The awards ceremony was preceded by a conference day during which Pascal Layan analysed the major post-COVID trends in the leasing market. Pascale Favre also participated in a roundtable discussion that addressed the lessons we learned from the pandemic.

BNP Paribas Leasing Solutions, European leader in professional equipment finance, announces the appointment of Myriam Beque as Managing Director of the Bank Leasing Services International Business Line. She replaces Philippe Bricault who has been appointed the Deputy CEO of BNP Paribas Factor. In her new role, Myriam joins the Executive Committee of BNP Paribas Leasing Solutions and reports to Pascal Layan, Deputy Chief Executive Officer and Head of International Business Lines of BNP Paribas Leasing Solutions.

Myriam Beque, 56 years old, spent the initial years of her career on industrial restructuring programs, notably in the Arcelor group. She joined BNP Paribas in 2006 in the Midcap Structured Finance team where she supported executives in the financing of their acquisition projects.

In 2012, Myriam introduced a banking support approach for start-ups within and outside of France through the creation and development of We Are Innovation (WAI) networks.

In 2014, she launched business acceleration programmes and two centres for innovation: WAI Paris and Massy Saclay.

At the end of 2018, she created the Innovation and New Business Models department within the Business team for corporates of French Retail Banking, thereby developing the ‘Beyond Banking’ offers and approach for the markets like energy transition and digital transformation.

Myriam Beque is a graduate from the Ecole Centrale de Lyon.

Pascal Layan, Deputy Chief Executive Officer and Head of International Business Lines said, “Myriam’s holistic knowledge of the different business lines of the BNP Paribas Group will be a true asset in her new role where she will be working very closely with the banking division. I’m convinced that she has everything it takes to succeed in this strategic role and welcome her on behalf of everyone at BNP Paribas Leasing Solutions.”

BNP Paribas Leasing Solutions, European leader in professional equipment finance, announces the appointment of Mirco Fusari as Chief Financial Officer (CFO). He replaces Gianluca Masciadri who has been appointed the Chief Financial Officer of BNL. In his new role, Mirco will report directly to Isabelle Loc, Chief Executive Officer (CEO) of BNP Paribas Leasing Solutions.

Mirco Fusari, 46 years old, has 21 years of experience in the leasing industry.

After a first experience at an Italian bank, he joined BNP Paribas Leasing Solutions in 2000. During his initial years at BNP Paribas Leasing Solutions, he held various positions within the Finance department: in 2003, he was a part of the Accounting, Reporting and Regulatory Affairs team and the following year, he became the Head of ALM & Management Control. In 2009, he became Deputy CFO and handled the merger with BNL and Fortis for Finance.

In 2012 he was appointed CFO of the Italian branch of Leasing Solutions and a member of the local Executive Committee.

In 2017, he moved to France and became Head of Corporate Management Control within the Leasing Solutions Corporate Finance division. He is an Economics graduate from the University of Bologna.

Isabelle Loc, CEO of BNP Paribas Leasing Solutions said, “Over the years, Mirco has proven his numerous skills and has been a true asset to the Finance department. His expertise, his excellent knowledge of the business, his vision and his commitment will be priceless in implementing the ambitions of our métier.”

BNP Paribas Leasing Solutions, den europæiske leder inden for finansiering af professionelt udstyr, annoncerer udnævnelsen af Andrey Maramzine som Chief Sustainability Officer med virkning fra den 2. maj 2022. I sin nye rolle indtræder Andrey i BNP Paribas Leasing Solutions’ direktion og vil referere til Isabelle Loc, CEO for BNP Paribas Leasing Solutions.

Som CSO vil Andrey få ansvaret for at opbygge, implementere og fremme BNP Paribas Leasing Solutions’ bæredygtighedsstrategi. Hans mission bliver at accelerere og strømline de eksisterende bæredygtighedsinitiativer, samtidig med at han udvikler yderligere strukturelle tiltag i samarbejde med interne og eksterne interessenter.

“At integrere bæredygtighed i alle aspekter af vores forretning og støtte vores kunder og partnere i deres energiomstilling samt øge deres positive indvirkning er en topprioritet for BNP Paribas-koncernen og BNP Paribas Leasing Solutions. Oprettelsen af CSO-rollen vidner om den strategiske betydning for vores virksomhed, og med Andrey ved roret, vil vi kunne accelerere vores ambitioner takket være hans lederskab og kompetencer,” udtaler Isabelle Loc, CEO for BNP Paribas Leasing Solutions.

Andrey kom første gang til BNP Paribas i 2005. Siden november 2018 har han været Equity and Investment Financial Analyst med ESG-ekspertise i Economics and Strategy-forskningsafdelingen hos CIB Global Markets. Han er fast medlem af French Society of Financial Analysts (SFAF) og er Certified ESG Analyst (CESGA) fra European Federation of Financial Analysts Societies. Derudover har han opnået CFA Certificate in ESG Investing fra CFA Institute.

Andrey er uddannet fra HEC Paris og Sciences-Po Paris.

On June 19th, the 19 members of our Executive Committee made a strong commitment by signing the #NeverWithoutHer charter from BNP Paribas. This charter aims to promote the representation of women in the public sphere and has also been signed by 72 individuals across all the countries where our company is present.

Signing this charter means committing to be agents of change. We pledge to actively encourage women’s participation in all events and to promote their visibility and influence within and outside the company.

Joining this charter is not just a symbol; it is an additional concrete action to build a professional environment where women are represented, heard, and respected.

This issue is everyone’s issue, so we invite every employee to individually support this initiative by actively participating in the implementation of this charter in our daily practices. It is through our collective and individual commitment that we will make a significant difference for gender equality.

BNP Paribas Leasing Solutions, European leader of professional equipment finance, announces the appointment of Isabelle Loc as Chief Executive Officer, with effect from 19th May 2021. She succeeds Charlotte Dennery, who becomes Chief Executive Officer of BNP Paribas Personal Finance.

Isabelle Loc will report to Thierry Laborde, Chief Operating Officer (COO) of the Retail Banking division of the BNP Paribas Group and will be responsible for pursuing the growth and development of BNP Paribas Leasing Solutions and for outlining and implementing its next Medium-Term strategic plan (2022-2025).

Thierry Laborde, COO of the Retail Banking division of the BNP Paribas Group said, “I would like to thank Charlotte Dennery for the strong momentum that she has built for BNP Paribas Leasing Solutions through the expansion and transformation of the business over the past six years. With her expertise and solid knowledge of the Group, Isabelle Loc has the necessary skills to continue accelerating the growth of a business that lies at the heart of the real economy.”

Isabelle Loc, 38 years, has been the Head of Real Assets, EMEA at BNP Paribas CIB since 2018 and has played a key role in advising and financing clients across the energy, natural resources, infrastructures, transportation and real estate sectors. Between 2018 and 2016, she was a Senior Banker in charge of BNP Paribas’ strategic clients. She first joined the BNP Paribas Group Paribas in 2010 within the Global Equity & Commodity Derivatives teams and was later appointed the Secretary of the Group’s Executive Committee in 2013. Isabelle Loc began her career at McKinsey & Company. She is a graduate from Ecole Polytechnique and from Columbia University.

Der er ingen tvivl om, at 2023 har været et år præget af evaluering og genovervejelse for de fleste virksomheder. Det globale forretningsmiljø ændrer sig hurtigt, med stigende energipriser, forstyrrelser i forsyningskæderne og inflation, som konstant tvinger organisationer til at tilpasse sig og være på forkant.

Alt i alt har dette gjort erhvervslivet stærkere, mere fleksibelt og mere effektivt. Vi er blevet bedre til at vurdere, hvad der skaber værdi og hvad der ikke gør.

Både forbrugere og virksomheder vil gå ind i 2024 med en vis forsigtighed, men jeg håber, at det nye år også bringer en forsigtig optimisme. Nogle gange er det netop de største udfordringer, der fører til de mest betydningsfulde forandringer. Det ser vi tydeligt i den fremgang, der sker mod en lavemissions- og cirkulær økonomi – en udvikling, der heldigvis intensiveres både på trods af og på grund af økonomiske udfordringer.

Dette alene bør give os grund til håb. Så hvordan fastholder vi momentum, og hvilke muligheder kan ligge foran os i de næste 12 måneder?

GEOPOLITISKE USIKKERHEDER ACCELERERER SKIFTET MOD REN ENERGI

Konflikterne i Rusland og Mellemøsten har haft katastrofale konsekvenser for millioner af mennesker og skabt alvorlige udfordringer i den globale økonomi.

Samtidig har disse kriser sat fokus på nødvendigheden af alternative energikilder. Energiresiliens og uafhængighed er blevet en topprioritet for regeringer og EU, som arbejder intensivt på at sikre forsyninger og fremskynde overgangen til grøn energi.

Overgangen til grøn energi er ikke længere blot en økologisk nødvendighed – den er også en økonomisk nødvendighed. Efterspørgslen efter infrastruktur til ren energi er stigende, og den finansierede mængde af energiproducerende udstyr nåede sidste år op på 1 milliard euro, ifølge de seneste data fra Leaseurope.

Leasingsektoren vil få en vigtig og voksende rolle i at muliggøre indførelsen af ren energiteknologi og -infrastruktur ved at sikre, at det er et tilgængeligt og bæredygtigt alternativ til status quo. Det vil kræve fleksibilitet og innovation fra udlejerne, som skal finde løsninger til at finansiere nye aktivklasser og tilbyde kunderne værdiskabende tjenester som en del af disse aftaler. Det vil bidrage til skiftet fra traditionelt kontantejerskab til en servicebaseret, cirkulær tilgang til forvaltning af aktiver.

ØGET PRODUCENTANSVAR STYRKER DET SEKUNDÆRE MARKED

EU’s regulering stiller i stigende grad krav til producenter om at tage ansvar for deres produkter gennem hele livscyklussen, også længe efter de har forladt fabrikkerne. Dette er en udfordring for producenterne, da de nu også skal være ansvarlige for produkternes end-of-life. Dog fremmer lovgivningen også nye forretningsmodeller som Product-as-a-Service (PaaS).

Når en producent bevarer ejerskabet af sit produkt gennem hele livscyklussen, kan den få en meget dybere forståelse af dets komponenter, slid og restværdien af de brugte varer. Skiftet til en servicebaseret tilgang giver også producenterne mulighed for at udvikle nye indtægtsstrømme ved at tilbyde kunderne værdifulde tjenester i forskellige faser af livscyklussen – fra digital forvaltning af aktiver til dataindsigt og bæredygtig og sikker bortskaffelse af aktiver.

Vi oplever nu en stigende efterspørgsel fra leverandører, der ønsker at sikre aktiver i slutningen af deres levetid, samt ønsker at investere i renoverede og genanvendte aktiver. Det giver producenterne mulighed for at reagere på kundernes øgede efterspørgsel efter brugte eller renoverede aktiver, der skal udgøre en obligatorisk procentdel af buddene som led i ESG-tilpassede indkøbsprocesser, overholdelse af lovgivningen og budgetovervejelser.

Leasingselskaber kan spille en vigtig rolle i udviklingen af PaaS-modeller ved at samarbejde med leverandørpartnere for at sikre, at ansvaret for aktiverne bevares i hele livscyklussen, samt at tjenester, der fremmer genbrug, integreres i produktudbuddet. Samarbejdet sikrer ligeledes at kunderne støttes i at anvende principperne for den cirkulære økonomi i hele deres virksomhed.

DIGITAL OMSTILLING ER I FOKUS, NÅR ORGANISATIONER REDUCERER OMKOSTNINGER

Teknologi har været et centralt tema i 2023, og trods de globale usikkerheder, har vi dette år set en robust efterspørgsel for forretningsudstyr, særligt investeringer, der er centrale for forretningsdriften.

Virksomhederne træffer nu strategiske beslutninger baseret på, hvor kritiske investeringerne er for væksten, og teknologi er en klar drivkraft for både effektivitet og konkurrenceevne.

Fremskridt inden for kunstig intelligens (AI) vil uden tvivl fortsætte i 2024. For leasingsektoren skaber det nye, spændende muligheder for at forbedre kundeoplevelsen ved at fremskynde transaktioner som kreditgodkendelser og gøre sporing af svindel mere pålideligt og konsekvent.

Samtidig kan leasing understøtte virksomhedernes digitalisering ved at reducere de indledende omkostninger og gøre teknologiinvesteringer lettere at håndtere. I dag kommer omstillinger i mange former, men den digitale omstilling vil være afgørende for at støtte organisationen i at vokse bæredygtigt.

Leasingbranchen spiller igen og igen en central rolle, der hjælper virksomheder med at fremtidssikre deres forretning og bidrage til en bedrefremtid.

Vi står over for en unik mulighed for at skabe endnu større værdi, og jeg tror det kalder på en forsigtigoptimisme.

Isabelle Loc, Administrerende direktør, BNP Paribas Leasing Solutions

At the Global Capital European Securitization awards held in London on 27th April, BNP Paribas Leasing Solutions received the Debt Issuer of the Year Award for our first ever securitization operation that was conducted at the end of 2021.

Organised by Global Capital, these awards bring together over 300 market participants. The Awards are a result of a comprehensive process of market research including an online poll and pitches.

By giving us this award, Global Capital recognised the standard of our pitch. They also appreciated the innovative nature of our securitization operation. Indeed, the EUR 500 million transaction was the first ever public securitisation on professional equipment leasing contracts in Europe with a placement of all tranches to investors. The successful completion of this transaction allowed us to extend our service offering to the benefit of our clients, which consists mainly of mid-size companies and SMEs in the real economy. The deal attracted strong demand from investors and was oversubscribed across the capital structure.

The award was received by Isabelle Loc, CEO of BNP Paribas Leasing Solutions on behalf of the company.

SECURITISATION OPERATION – Find out more about our successfully closed securitisation operation.