E-waste Management: Converting the E-waste Challenge to a Business Advantage
E-waste management is gaining importance as the use and demand for electronics have snowballed, further motivated by new technologies and our dependency on connectivity in our daily lives.
However, our reliance on all things electronic comes at the price of the negative impact of electronic waste (“e-waste”). Let’s dissect the challenge, associated risks, and what companies can do to accommodate e-waste into a long-term sustainability strategy.
What is e-waste?
E-waste used to be classified as computers, servers, monitors, tablets, printers, and cell phones. But, in today’s tech-savvy world, e-waste encompasses many more products used in households and businesses—household appliances and devices, toys, tools, music, cars, and wearables. As these goods reach the end of their useful life, they become e-waste.
According to the 2020 UN Global E-waste Monitor, e-waste is the world’s largest waste stream globally. It contains materials that negatively impact human health and the environment, and very little is recycled.
The world generated 53.6 million metric tons of e-waste in 2019. Only 17.4% of that was recycled. The fraction not recycled (82.6%) represents $47 billion in lost value from materials that could have been recovered, including cobalt, palladium, copper, and other conflict minerals.
Source: 2020 UN Global E-waste Monitor
The Business Benefits of E-waste Management
A company’s biggest asset disposal mistake is looking at it as a stand-alone program. Your e-waste management procedure should be envisioned as a strategic lifecycle decision that has the potential to add value to the business.
By ensuring that e-waste management is at the core of your business operations you can take your company to greater heights of recognition, reputation, trust, and success. It allows you to build a strong relationship between your working environment and the world.
Here are some methods in which your business can benefit from e-waste management.
It can boost your Corporate Social Responsibility (CSR)
According to consumer behavior reports, consumers believe it is essential for a company to be socially responsible. Businesses that practice sustainable e-waste management and stay transparent with the customers regarding their progress have a higher probability of increasing their business and reaching a wider group of consumers. For consumers, it is a reflection of a company’s commitment to safeguarding human as well as environmental health.
It Minimises Your Environmental Impact
Practicing sustainable e-waste management is the safest and healthiest way to minimize your business’s negative environmental impact. Recycling old electronics saves the environment from the hazardous effects of landfill disposal. Companies like Coca-Cola have adopted using recycled products as their primary business strategy.
It Saves your Business Money
Authorized e-waste management companies take your old IT equipment and give you back the best actual price they can. By practicing sustainable e-waste management, you’re a responsible citizen and saving costs for your business.
It Improves your Business Reputation
What is more essential for a business than maintaining a clean and credible reputation? When you take your corporate social responsibility seriously, you improve your business reputation. Consumers prefer to engage with companies with a credible reputation as it shows their trust in the business’s services and products.
Get Maximum Return On Your Retired Electronics
Every component in your retired electronics is still valuable and can be used efficiently. Reusing the components recycled from your e-waste, as a whole or in parts, can get your company maximum return.
Get A Competitive Edge Over Your Competitors
Suppose a business publicizes the fact that it is being socially responsible and committed to sustainable e-waste management through eco-friendly recycling. The business is cultivating its competitive existence in the market by doing so. Your company recycles every bit of e-waste you produce, makes you unique and positively visible in society — an incredibly potent competitive edge over your competitors.
What Can GreenTek Reman Do For Your Business?
Did you recently update all your office IT and electronic equipment? Are you looking for sustainable e-waste management of your business electronics? We can help you!
We are APAC’s 1st R2v3 certified e-waste management and ITAD company. We take your unwanted and obsolete IT equipment and recycle them securely and responsibly.
