Why has the circular economy become a strategic priority for businesses today?
Emmanuelle Bru (EB): For many years, the circular economy was primarily viewed as one of the key levers for decarbonisation. Today, however, businesses are facing very tangible challenges to supply chain management, driven by geopolitical dependencies, price volatility and increasing pressure on critical resources. In this context, circularity is becoming a real question of resilience. Among our industrial clients, for example, some clients are securing access to critical materials through closed-loop recycling systems. This involves collecting products once they reach the end of their life cycle, recovering valuable materials and reintroducing them into the manufacturing of new products.
At the same time, we are seeing the emergence of a more structured, robust regulatory framework. In Europe, discussions on the Circular Economy Act (announced in early 2025 as part of the Clean Industrial Deal) demonstrate that the circular economy is now viewed by policymakers as a strategic driver of competitiveness and industrial sovereignty. Finally, a growing number of large companies are setting revenue targets linked to circular activities, highlighting the business opportunities generated by this model. Circularity is therefore no longer simply about managing supply chain risks; it is increasingly being recognised by businesses as a source of growth and value creation.
Samuel Lefevre (SL): Absolutely. Having recently changed entities within the Group, it’s clear to me that businesses approach circularity differently depending on their sector and priorities. Drawing primarily from my experience at BNP Paribas Leasing Solutions, we have observed that the circular economy is increasingly becoming central to many company business models.
The question is no longer simply, “How can we reduce our environmental footprint?” but rather, “How can we make better use of our equipment, optimise costs and build a more sustainable business model over the long term?”
This is particularly relevant for BNP Paribas Leasing Solutions, whose business model is centred on helping companies optimise how they acquire, use and manage equipment throughout its lifecycle. These trends are also explored in our latest report, Professional Equipment in Europe: Outlook 2026, based on research conducted among 1,000 decision-makers across 11 countries and six industries.
EB : The circular economy is becoming a strategic solution across a growing number of sectors. Ultimately, it represents a profound transformation in the way value is created, products are manufactured and resources are consumed.
In concrete terms, what does a circular approach mean for companies?
SL: Circular economy principles are often thought to be highly theoretical, when in reality they are very practical. It can mean extending the lifespan of equipment, improving rates of use, recovering products at the end of use to recondition them and give them a second life. This is where there’s a strong connection to leasing. By moving from an ownership model to a usage-based model, companies can track products more effectively over time, optimise their use and maximise the value extracted from the resources embedded within these products.
EB: Yes, circularity also fundamentally changes the way companies think about value creation. Rather than focusing solely on the purchase of a new product, businesses begin to consider the product’s entire lifecycle. Value is no longer generated only at the point of sale, but throughout the successive uses of a product over time. It is also a way to progressively separate economic growth from the consumption of new resources. For many companies, this shift requires a fundamental change in how they approach their product design, service offerings and relation with clients.
SL: Equipment and products are no longer viewed as something to simply be consumed and replaced. Instead, it becomes an asset capable of generating value over an extended period of time. This also creates opportunities for new business models centred on services, maintenance, reuse and reconditioning.
In addition to the positive environmental impacts, how can circular business models drive economic value and growth?
EB : C'est une question essentielle, parce qu'on observe aujourd'hui un changement très significatif dans la manière dont les entreprises abordent la circularité. De plus en plus d’entreprises considèrent la circularité comme un véritable relais de croissance. On voit par exemple apparaître des objectifs chiffrés ambitieux dans des secteurs aussi différents que la chimie, l'automobile ou les biens de consommation.
SL: Yes, that’s because circularity creates new sources of value. When equipment retains residual value at the end of its contract, that value can be reintegrated into the business model. For clients, this can translate into a lower total cost of use. For businesses, this enables the development of more comprehensive, sustainable and differentiated offerings. Companies are no longer simply selling equipment; they are building long-term solutions supported by services and focused on overall performance.
BNP Paribas Leasing Solutions: DRIVING THE CIRCULAR ECONOMY
The transition towards a circular economy requires businesses to rethink traditional production and consumption models. BNP Paribas Leasing Solutions plays a key role in supporting this transformation through financing and usage-based solutions tailored to these evolving challenges.
Present in 21 countries serving approximately one million end customers, BNP Paribas Leasing Solutions offers a broad range of solutions, from credit to product and service-based leasing models. These service-based leasing solutions are particularly innovative because they enable companies to optimise equipment lifecycle management while controlling costs and reducing their environmental impact.
A key example of this is the sustainable management of technology assets. Through BNP Paribas 3 Step IT, the Group’s joint venture specialising in IT lifecycle management, equipment is recovered at the end of its contract, securely processed, reconditioned and reintegrated into a new usage cycle. This approach reduces resource waste and extends the lifespan of valuable materials.
Beyond operational support, BNP Paribas Leasing Solutions is also committed to measuring the environmental impact of circular business models. A study conducted in partnership with Circul’R (available in French only) revealed significant results:
- Equipment lifespans extended by an average of two years;
- 25% reduction in raw material consumption;
- 9 out of 10 equipment products from reconditioning centres successfully found a second life.
These figures clearly demonstrate how financing and usage-based services can accelerate the transition towards a more sustainable economy while creating value for businesses and their broader ecosystems.
What conditions are still needed to accelerate the transition to a circular economy?
SL: Several challenges remain. First, we still need to deploy these circular models at scale. While usage-based approaches are gaining traction, they remain a minority practice in many sectors. Secondly, data is becoming increasingly important. To develop these models effectively, businesses must be able to better predict residual asset values, reconditioning potential and opportunities for reuse.
EB: It also requires greater collaboration across the value chain. The circular economy relies on interconnected ecosystems involving manufacturers, suppliers, financiers, logistics providers, reconditioning specialists and public authorities. The more closely all stakeholders can work together, the more efficient and economically viable these circular models become. At the same time, implementation must remain adapted to the realities of each sector, use case and geographical context.
SL: Exactly. The underlying principles are highly replicable, but implementation is always shaped by local circumstances. That is what makes these models both ambitious and practical.
