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ABN AMRO and Mitsubishi join forces for circular construction

News - 12 March 2019

Our colleagues in the Netherlands have entered into a partnership with the Mitsubishi Elevator Europe to make the construction sector more sustainable. Miranda Stokkingreef (CEO, ABN AMRO Asset Based Finance) and Evert Visser (Senior Managing Director, Mitsubishi Elevator Europe) signed the agreement in the Mitsubishi factory in Veenendaal.

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.

Circular together
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.