ERI creates Design for Sustainability programme to help OEMs hit circularity targets
ERI, an electronics asset disposition provider and hardware company, has developed a programme for consumer electronics industry manufacturing partners to help them reach their circularity goals.
Described as the largest fully integrated IT and electronics disposition provider (ITAD), ERI has earned a reputation through its work in de-manufacturing, recycling and refurbishing electronic devices using eco-friendly methods. Furthermore, ERI is one of the only companies in the industry with a SOC 2 certification for security and data protection.
The Design for Sustainability programme will help original equipment manufacturers within consumer electronics achieve their goals regarding sustainability and circularity. ERI has been described as the first company in the e-waste recycling industry to develop a collaborative programme with the intention of empowering manufacturers to engage with the end-of-life process. This, in turn, will help manufacturing partners achieve their circularity and sustainability goals.
The organisation has received an A rating from the Circulytics tool, which tracks progress towards circularity, developed by the Ellen MacArthur Foundation, and is working with partners to increase the amount of material that is manufactured in a closed loop.
The Design for Sustainability programme sees the organisation collaborate with engineers, sustainability specialists, as well as executives from original equipment manufacturers (OEMs). The programme creates a dialogue between ERI and members of the industry, with the goal of producing new products in a sustainable way. That could be via the use of recycled material resources like steel and plastics, or through manufacturing techniques and protocols.
“It is an honor and privilege to engage directly with so many of the world’s leading consumer electronics manufacturers and to play a role in their circular economy and zero waste journeys,” said ERI Co-Founder, Chairman and CEO, John Shegerian.
“As industry leading recyclers, we feel it’s part of our mission to work with all stakeholders across the consumer electronics lifecycle – retailers, consumers, and in this case the manufacturers – who have really stepped up and exhibited significant commitment to sustainable materials management. The time for a consumer electronics circular economy is now and we are excited to see so many of our OEM partners passionately embracing our program to help us all get there. It is hugely rewarding for ERI to be playing a role in these iconic brands’ success as we work together to protect our planet.”
ERI partners make large investments in circularity
A new firm centring on sustainability and circularity was recently established by Brookfield Asset Management Inc. The company made a deal with Closed Loop Partners LLC to establish a new company named Circular Services, following an investment of around €678 million ($700 million).
The new Circular Services entity comprises five of the portfolio companies owned by Closed Loop. Circular Services will centre on circularity with materials such as paper, metal and glass across seven states in the United States. This would make it the largest closely held recycling company in the country.
It was also reported that Brookfield Asset Management Inc. has invested approximately €193.75 million for a minority stake in Circular Services. A further €484 million ($500 million) has been invested to help Circular Services with growth and scaleability.
Natalie Adomait, chief investment officer of the transition fund, told Yahoo Finance: “There’s a massive opportunity to scale up the recycling infrastructure to actually provide more of the product that’s really in demand, which is recycled materials.”
ERI released a public statement applauding the deal, stating: “Congratulations to our friends and partners at The Closed Loop Fund for making the world a better, more sustainable place!”.
Reports also note that the capacity of Circular Services is expected to grow exponentially. Currently, the company is able to recycle around one million tonnes of material on an annual basis. This figure is expected to rise to five million tonnes in five years, according to Ron Gonen, chief executive officer of Closed Loop Partners.
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