A Broader Company Focus
Sunnking, an IT asset disposition (ITAD) company, has recently rebranded itself with a new name representing its diverse offerings beyond just asset recovery. The new area of focus for the company is its ability to provide clients with detailed sustainability metrics.
Announcing this transformation on April 9th, the New York based firm revealed its updated identity as Sunnking Sustainable Solutions. The name change reflects a pull towards four primary service areas, specifically: IT asset disposition, asset retrieval, secure data erasure, and environmental, social, and governance assessments.
New Direction Taken Based on New York’s E-Scrap Program
Adam Shine, the president of Sunnking, speaks of how the business has transformed over the years since its establishment in 2000. Initially concentrating on providing free device retirement services for businesses and maximizing resale value, the company witnessed a monumental change in 2010. This shift was brought about by the introduction of New York’s e-scrap program which prompted Sunnking to pivot towards recycling consumer electronics.
After the program experienced growth and the firm established routine collection events to gather a consistent flow of incoming material from consumers, Shine mentioned that company executives made a decision to refocus their efforts on catering to business customers.
As part of this transition, Sunnking would enhance used PCs received from corporate clients by upgrading components like memory and software before returning them for redeployment.
Through interactions with these particular clients, the organization recognized a new opportunity for expansion. Many corporate customers expressed a growing need to communicate their environmentally responsible practices to shareholders, as data shows that managing assets responsibly plays a crucial role in a corporation’s sustainability efforts.
“So as part of this rebrand, it was really important that we had an ESG focus, so that our larger customers can report back to shareholders,” Shine stated. He also noted Sunnking’s commitment to measuring ESG metrics within its operations, aligning with the increasing emphasis on sustainability within recycling companies.
Novel Online Platform Rolled Out
In addition to the rebranding, Sunnking introduced a new online platform which enables customers to monitor information related to their obsolete devices, focusing on ESG criteria. These metrics are based on data provided by the U.S. Environmental Protection Agency and encompass various factors, such as the reduction in greenhouse gas emissions achieved through device refurbishment, the conservation of water resources through device reuse rather than new material mining, and the amount of electricity saved.
Incorporating IT Asset Disposition (ITAD) practices can also contribute to the social and governance aspects of ESG initiatives. These include activities like linking charitable contributions to device disposal or collaborating with nonprofits, and prioritizing compliance with data destruction protocols. Sunnking’s digital platform offers a means to track and assess the impact of these efforts and allows clients to gauge their overall ESG performance.
ITAD ESG Reporting Continues to Gain Popularity
ESG reporting has only just begun to gain traction within the realm of IT Asset Disposition (ITAD). According to the latest annual client survey conducted by Cascade Asset Management, customers involved in ITAD consistently express curiosity about environmental reporting. However, many tend to prioritize effective data management and value recovery over environmental concerns when making business decisions.
It was clear to Shine that the current timing is only the beginning of a potential shift in the ESG landscape. He suggested that the ESG movement might undergo a rebranding or expand to encompass a wider range of business endeavors. Despite this uncertainty, he expressed confidence in the constant relevance of environmental reporting in one way or another.
“I think the concept behind it is here to stay, and I think it’s going to become more and more important to certain customers, that if you can’t provide that service, we can’t work with you,” Shine remarked.
