Mitsubishi, a service provider in vertical mobility, was the first to launch a circular lift in 2016, in accordance with its 'M-Use®' concept. M-Use® is the name for a unique circular model, offering high quality and guaranteed performance lift installations for a low initial investment. Mitsubishi remains the owner of the lift and therefore responsible for its maintenance. As a result, an M-Use® lift will last longer than standard lifts. When a lift eventually needs to be replaced, Mitsubishi recycles or reuses the materials, meaning more than 95% of the lift’s parts are repurposed.
ABN AMRO recognises the potential of these M-Use® contracts. This is why the bank is entering into a long-term partnership with Mitsubishi to encourage the use of such solutions in customer construction projects. Miranda Stokkingreef, CEO of ABN AMRO Asset Based Finance says: "ABN AMRO is keen to assist customers in the transition to sustainable business practices. We are constantly looking for new business models. With Mitsubishi as our partner and the M-Use® project, we are taking a nice concrete step towards an even greener construction sector."
Sustainability is part of the strategy
Sustainability is a core element of ABN AMRO's strategy. The bank has concrete targets on circular deals. By 2020, the bank aims to have financed at least 100 circular deals with a total loan volume of at least EUR 1 billion. In 2017, ABN AMRO opened the circular pavilion 'Circl', which contains an M-Use® lift.
ABN AMRO Commercial Finance and ABN AMRO Lease are trading names of ABN AMRO Asset Based Finance N.V.