We are the only company in the world that managed to get big tech brands (e.g. Fujitsu, Samsung, Vodafone) to commercially benefit from adopting a green/circular innovation.
Tech users are not able to apply their (personal) values on their devices, today. This results in the biggest market mismatch of the decade: 74% of customers say they would like their device to be a bit greener (according to BCG research). But there is hardly any offer out there that delivers on that need in a positive, simple, safe and engaging way. Green needs to be painless, otherwise you get what you see now: no-one uses it.
Closing the Loop is an award-winning – industry, research, government and NGO supported – ‘social enterprise’. It created a circular business model that creates commercial value, today. Brands such as Vodafone and Samsung used its service called “waste compensaation.” The service makes new devices (e.g. phones) waste-neutral by ‘compensating’ them: for one device sold by Vodafone, one scrap device is collected and recycled. A new device can only be compensated by recycling waste that would otherwise not be recycled.
The service builds on the 10 years of experience of Closing the Loop in collecting electronic scrap in countries such as Ghana and Nigeria. Here, local communities are paid for collecting and safely managing the waste they can not use. This creates job and income and reduces local waste. The scrap is then properly recycled, but only after it has been documented as collected and recycled. This documentation connects the waste reduction to the sale of new devices by tech brands. It’s ‘circularity as a service.’