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Leasing: The New Circular Ownership Model

Leasing agreements benefit the circular economy

Leasing is an ownership model in which a person rents, rather than buys, a product from a company. Instead of paying the full price upfront in exchange for ownership over the product – as done in a purchase-based ownership model – the customer instead pays the company in installments in exchange for continued access to the product over an agreed period of time. During this time, the customer can keep the product and make use of it as they wish, but they never actually own the product. The provider is the one who maintains ownership over the product, as well as the responsibility to maintain it, replace it if it is broken or outdated, and retrieve it once the lease period is over.

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5 circular economy strategies to stay below 1.5°C warming

forest fire

The World Meteorological Organization has reported that global temperatures are predicted to rise 3-5 degrees Celsius by the year 2100. This far surpasses the maximum limit of a 2°C rise in temperature that absolutely must be avoided in order to prevent the worst effects of climate change, such as devastating droughts, severe storms, uncontrollable fires, rising sea levels, and the loss of many plant and animal species. In 2015, the Paris Agreement was signed by 174 countries, who on that day pledged to strive to limit the rise to 2°C – nonetheless, the mechanisms currently in place by these countries are simply not enough to meet this target. Circular economy strategies, however, are hardly included in these countries’ plans, yet show huge potential for keeping the global temperature below the limit.

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