In early February, Foxway had the honor of supporting the first-ever Circular Markets event held by CCS Insight. The event brought together key players in the tech sector to tackle the way forward in the fast-evolving circular economy. The exclusive gathering offered a unique platform for representatives from 90 leading companies in the industry to discuss the huge opportunities in this space.
CCS Insight has observed the growing demand for second-hand devices in recent years, but the same rapid market expansion leaves us with numerous challenges. The event emphasized the need for industry-wide collaboration to address and overcome these obstacles, and showed that progress can be achieved with collective effort.
In one of the panel sessions, our Chief Impact Officer Stefan Nilsson focused on the topic of prioritizing sustainability — from addressing regulatory and market challenges in the used device sector to setting realistic, authentic goals. Next, we’ll highlight the key standpoints we shared in our panel discussion, which remain central to our approach.
Getting beyond 2030 net zero targets with industry-wide commitment
Largely driven by international policies and treaties such as the Paris Agreement, the industry has heavily focused on its net zero targets for 2030. A crucial question arises: what happens after that? Achieving long-term sustainability goals requires more than short-term profitability or quick wins in compliance-driven efforts. A sincere, ongoing commitment to sustainability must be embedded in industry practices — not just as a temporary business initiative.
While many companies have made significant investments in solutions aimed at reducing emissions, true progress will depend on a broader, industry-wide approach that extends beyond financial motives and the immediate goal of 2030. What about 2040 or 2050?
Achieving sustainable outcomes in the long run requires all players working together. Only this way, can we achieve standardized quality and a trusted customer experience — aspects that are critical to wide-spread adoption. Ensuring that sustainability is not seen as an isolated effort, but part of a collective responsibility will set the foundation for success in the years ahead.
Navigating ESG regulations: aiming for accountability, not accounting
The regulatory maze can make it difficult for businesses to understand their true impact and responsibilities. While initiatives like the Right to Repair and the Ecodesign framework are positive steps, sustainability shouldn’t boil down to compliance checkboxes.
“It’s clear that regulation has played a role for years, driving inspections and compliance. However, with the EU now having an overwhelming 7,000 ESG-related regulations, the focus has increasingly shifted to accounting rather than tech longevity and real impact. It shouldn’t be about accounting, but about accountability.”
Stefan Nilsson, Chief Impact Officer at Foxway
In an era of growing environmental concerns, device longevity should be at the forefront of efforts to reduce the industry’s negative environmental impact. Extending tech lifecycles aligns with broader sustainability goals, yet it often gets overlooked amidst complex regulatory frameworks.
For the industry to drive real change, unified and transparent frameworks are essential. This will not only simplify compliance but ensure a level playing field—one that holds all stakeholders to the same high standards while driving genuine progress.
Refurbished is cool and it’s here to stay
We’ve witnessed initiatives that are a step in the right direction, such as the GSMA’s that by 2030, operator take-back schemes must recover at least 20% of the number of new mobile devices sold to customers. But the panelists agreed with us that the industry can and should aim higher. Reaching 30% or beyond is possible, yet will require addressing several key barriers, such as:
- finding the correct partner for buyback services,
- creating awareness and trust in handing your device over to a service provider,
- ensuring pricing consistency.
The other side of the coin is the ambition to repair, reuse or recycle 100% of the collected devices. One of the main obstacles of remarketing is consumer perception — many still hesitate to choose refurbished over new due to concerns about reliability and performance. This hesitancy is reinforced by the lack of industry-wide quality standards, which leads to inconsistencies in customer experience.
Enterprises, however, are increasingly recognizing the value of high-quality refurbished devices and are willing to pay premium prices for them. If businesses can trust the quality and longevity of refurbished technology, widespread adoption will follow.
“The industry needs consolidation, to unite on quality standards. We must focus on educating consumers on the benefits of sustainability and the role that tech plays in it. The more transparent the industry, the easier it is for consumers to trust the secondary market and to overcome the stigma attached to owning a refurbished device.”
Stefan Nilsson, Chief Impact Officer at Foxway
Education is another critical factor. Consumers and businesses alike need clear, transparent information on the benefits of refurbished devices — not just from a cost-saving perspective but in terms of sustainability and circularity as well. Extending device lifecycles through refurbishment reduces e-waste and lowers the overall negative environmental impact of the tech industry.
If the industry aligns on quality standards, educates consumers effectively, and strengthens collaboration, surpassing the 20% target is not only possible — it’s inevitable. Refurbished devices are no longer just an alternative; they are the foundation of a more sustainable and circular tech economy.
What impact do events like Circular Markets have?
The secondary tech market is still evolving, and industry-wide collaboration is essential to accelerating its growth. Events like Circular Markets provide a unique space for key players to come together — not just to discuss challenges but to align on collective actions that can drive real impact.
Unity in quality standards, establishing consumer trust, and general awareness are issues the industry is facing daily. While consumers and businesses are increasingly open to refurbished and reused devices, many still hesitate to fully embrace them. Unlike the automotive industry, where trading in used cars is the norm, electronic devices often remain forgotten in drawers, despite their continued value. Changing this mindset is critical to increasing device trade-in rates and ensuring that valuable technology stays in circulation.
“Some of us may be competitors, but we can also help each other. We are the ones driving this business, and we have the power to make changes — whether that’s influencing EU regulations or simply agreeing on industry-wide improvements. If we work together, we can create a more transparent and efficient market for reused and refurbished devices.”
Mikkel Frid, President of Recommerce Mobiles at Foxway
By improving aiming for common quality standards, fostering trust, and making reuse the default choice, the industry can unlock significant potential. A more coordinated approach to quality assurance, and trade-in programs will not only help reach higher adoption targets but also reinforce the long-term viability of the secondary market.
The Circular Markets event made one thing clear: the future of tech is circular and shaping it will require a shared commitment from businesses, regulators, and consumers alike.
Read more:
Recommerce Sustainability
