Is an EV salary sacrifice scheme the right choice for our sustainability journey?

I’m fully aware that our team is integral to the success of Compare Ethics . That’s why it’s so important to James and me that our company benefits reflect how much we value everyone who contributes to our mission, making sure they feel supported both at work and beyond.

It means a lot to me that some of our first hires are still with us three years on—something I don’t take lightly. As we grow, we want to offer benefits that not only attract new talent but keep our current team engaged. That’s why we’re exploring options like an EV salary sacrifice scheme, which not only supports the team but also ties into our commitment to sustainability.

Aligning employee benefits with our company mission

It’s clear that sustainability is becoming a major factor for employees when deciding where to work. A recent Deloitte survey found that 69% of employees want their companies to invest in sustainability, and 27% said they’d consider a potential employer’s stance on sustainability before even accepting a job. Given what we do at Compare Ethics, this rings especially true for our team.

With that in mind, I’ve been exploring employee benefits over the past few months that contribute to a greener future. The goal is to find options that add real value to the team while helping us reduce our environmental impact. One option that recently caught my attention is the electric vehicle (EV) salary sacrifice scheme.

What is an EV salary sacrifice scheme?

EV salary sacrifice schemes make it easier for employees to lease electric cars by giving up a portion of their salary (which comes with pretty decent tax savings). It’s similar to the cycle-to-work scheme, but for cars instead of bikes. It can be a great option for those who need a car—especially parents or those with longer commutes where cycling isn’t practical.

When I looked into it further, I found that in 2022, 28% of the UK’s net greenhouse gas emissions came from domestic transport, with the vast majority being road vehicles. Reducing these emissions is crucial for hitting our climate targets, and switching to EVs can make a real difference.

Are EV schemes as green as they seem?

I’m always mindful that not all green initiatives are as straightforward—or as genuine—as they might appear. Given our expertise at Compare Ethics in verifying green claims, we need to apply the same level of scrutiny to any initiative we take on, just as we would for our clients. Some benefits look great on paper but, in reality, might not live up to expectations.

So, I’ve done some digging into the real impact of EV salary sacrifice schemes. There are clear benefits—like reduced carbon emissions, lower running costs, and tax savings for employees. But we also need to look at the bigger picture, such as how green the energy used to charge these vehicles really is.

Why Octopus Electric Vehicles stands out

In researching providers, Octopus Electric Vehicles really stood out to me. With over 20,000 EVs delivered, they seem to have a solid track record in this space. Their offering is also designed to be cost-neutral for businesses—a big plus when you’re scaling a company.

What I liked most about Octopus Electric Vehicles is that they offer the full package—car, charger, and energy. This makes the switch to electric much smoother, especially for busy teams (myself included!). After exploring the options, we’ve decided to trial their scheme, and I’ll be testing it personally over the next few months to see how well it works for the team.

No silver bullets, but a step forward

We all know there are no quick fixes when it comes to sustainability. But I appreciate that Octopus Electric Vehicles seems to have considered the bigger picture. They offer 100% green energy for EV home charging, and I’ve looked into how they back this up. They balance the grid by ensuring that for every unit of energy used, an equivalent amount of renewable energy is generated.

On top of that, they offer employees an exclusive ￡500 renewable energy credit that can be used for solar panels or heat pumps, which adds an extra layer of support for making homes greener.

Looking ahead

As we keep exploring the best benefits for our team, the EV salary sacrifice scheme is definitely one that stands out. It’s practical, aligns with our sustainability mission, and could offer real value to employees. I’m excited to see how it works in practice and, most importantly, how the team finds it works for them.