Standard Chartered launches electric and hybrid vehicle salary sacrifice scheme

Standard Chartered salary sacrifice
Credit: MOZCO Mateusz Szymanski /

Banking organisation Standard Chartered has introduced an electric and plug-in hybrid vehicle salary sacrifice scheme for all of its UK-based employees.

Delivered in partnership with Tusker, the scheme provides the bank’s more than 2,500 members of staff with access to plug-in hybrid and electric vehicles that emit less than 75 grams of carbon dioxide per kilometre travelled, as part of a complete motoring package for a fixed monthly amount.

As part of the scheme, employees sacrifice part of their gross salary before tax through fixed monthly payments and receive income tax and national insurance savings. It also offers fully comprehensive motor insurance, servicing, routine maintenance and repairs, breakdown cover and MOTs.

According to Standard Chartered, the initiative supports its sustainability agenda and targets, and encourages colleagues and their families to take their own action against climate change by moving into cleaner, greener vehicles.

Julie Everitt, head of HR for Europe and Americas at Standard Chartered Bank, said: “Climate change is by far the greatest challenge facing the world today and the launch of our new electric and hybrid vehicle salary sacrifice scheme is another step forward in making a positive difference to sustainability. The employee benefit helps our UK colleagues to improve their own environmental impact and supports the bank’s commitment to reaching net zero carbon emissions in our own operations by 2025.”

The bank offers other sustainable benefits such as up to three days, or 21 hours, of paid leave per year for volunteering, which can include climate change related causes, train ticket season loans to promote use of public transport, and a bieks-for-work loan scheme including electric bikes that helps employees to reduce their individual carbon footprint.
Additionally, employees can donate to environmental charities through the organisation’s Give As You Earn programme, with the bank matching £500 a month.