From assets to access
ING’s report ‘Rethinking finance in a circular economy’, published in May 2015, has been widely read and recognised as a key document on how the financial industry can support the transition to a circular economy. An updated report, ‘From assets to access’, has just been released and takes a closer look at the steps the capital goods industry can take to move closer to a circular economy.
Increasingly, European industrial companies earn money with services related to a product. Whereas in 1995, 66% of (labour) income still came from production activities, that figure has declined to around 56% twenty years later. Trends such as ‘from ownership to use’ and customer demand for flexible solutions will strengthen this tendency in the coming years.
‘From assets to access’ focuses on capital goods manufacturers. Sales of EU capital goods manufacturers amount to approximately €2,200 billion. Technology presents these manufacturers with new opportunities for evolving from the traditional product sales model to a service model. However, the significant opportunities are matched by significant challenges: the switch from a product-oriented company to a service provider is a major one.
Also read the ‘Rethinking finance in a circular economy’ report (PDF, 3.2 MB)