A company’s sustainability performance is now more important than ever. The term was first used in the mid-2000s, and while back then people could see its importance, no one could have guessed just how important it would become – not only in the day-to-day running of a company, but what it would mean to the investment market. Pension fund managers now look closely at the sustainability reports of companies they might invest in.
From a business owner’s point of view, maximising your sustainability credentials is not only a way of raising your company’s profile, it can also be a way of saving large sums of money. A firm might make use of a government grant to install solar panels and save money on fuel bills; it might adopt biodegradable packaging for its products; or it might switch to electric vehicles for the company fleet. All will help improve an organisation's sustainability goals.
The UK government is committed to the phasing out of petrol and diesel vehicles in favour of electric, and will impose a ban on the sale of new ones from 2035 onwards. Any company with a vehicle fleet should consider what this will mean for its business. It must also accept that the aspirations of its workforce and how they relate to sustainability are crucial to its success.
One cost-effective solution is to introduce an electric car salary sacrifice scheme for employees, whereby a lump sum is deducted from their monthly wage and an electric car provided in return. Both the employee and the employer stand to benefit this way. The employee, through savings on National Insurance and tax, and the employer, by reducing their employee National Insurance contributions.
Through ElectriX and our specialist leasing partner CBVC, we can provide electric cars, manage the fleet and take care of maintenance. Specialist electric car vehicle insurance and the installation of electric car home chargers can be tied in with the leasing contract too.