Monday 22 September 2014 – Media Release

Canary Wharf Group is First Property and Construction Company to Make Living Wage Commitment

Canary Wharf Group is proud to announce that it has become the first major UK Property and Construction company to be accredited as a London Living Wage employer. This is the culmination of several years’ effort to realise the Group’s longstanding commitment to this goal.

The London Living Wage commitment will ensure that everyone working for Canary Wharf Group, regardless of whether they are permanent employees or contractors, receives a minimum hourly wage of £8.80, significantly above the national minimum wage of £6.31.

Sir George Iacobescu, CEO and Chairman of Canary Wharf Group said: “We are tremendously proud to be the first major UK developer and construction company to have received this accreditation. The decision to pay a Living Wage underlines our appreciation of each and every member of staff and the communities around all our London developments from which many of our colleagues come. We’re proud to be taking the lead on this initiative in our industry.”

Camille Waxer, Chief Administrative Officer of Canary Wharf Group said: “We’re very pleased that all the hard work colleagues across the company have put into securing our status as a Living Wage employer has finally come to fruition today. It has taken several years to achieve this milestone. We pride ourselves on being a good employer and today’s accreditation is a testament to our unwavering ethos.”

The Mayor of London, Boris Johnson, said: “Paying the London Living Wage ensures hard working Londoners are helped to make ends meet, providing a boost not only for their personal quality of life but delivering indisputable economic dividends to employers too. This in turn is good for London’s productivity and growth. It is extremely heartening to see Canary Wharf Group signed up and I hope this spurs on even more organisations to do the right thing.”

Rhys Moore, Director of the Living Wage Foundation, said: “We are delighted to welcome Canary Wharf Group to the Living Wage movement. This brings the Living Wage to a new sector, and to some of the most iconic development sites in the capital, such as Canary Wharf, 20 Fenchurch Street in the City and Shell Centre on the Southbank. We anticipate that the leadership this commitment has shown will encourage others in the development and construction industry to consider how they reward the lowest paid members of their work force, and help tackle in-work poverty in the UK. The best employers are voluntarily signing up to pay the Living Wage now. The Living Wage is a robust calculation that reflects the real cost of living, rewarding a hard day’s work with a fair day’s pay.”

In London the Living Wage is set annually by the Greater London Authority and covers all boroughs in Greater London. It is based on a combination of a basic living costs approach and income distribution, with respect to a variety of household types which takes account the unique circumstances of living in London, for example lower car usage and higher general cost of living than the rest of the UK.

Employers choose to pay the Living Wage on a voluntary basis. The concept enjoys cross party support, with public backing from the Mayor, the Prime Minister and the Leader of the Opposition.

ENDS

For further information please contact:
John Garwood or Elizabeth Adams
Canary Wharf Group plc
+44 (0)20 7418 2000

Notes to Editors

About Canary Wharf Group
Canary Wharf Group plc is an integrated property development, investment and management group of companies. It is focussed on the design, construction, leasing and management of grade A office space and high-quality retail, residential and leisure facilities in central London. Over the past 20 years Canary Wharf Group has regenerated derelict wharves into one of the world’s premier business and shopping districts, constructing over 16m sq ft of office space; more than any other company in London. These buildings are now occupied by over 100,000 people.

Canary Wharf Group’s tenants, clients and occupiers include some of the world’s leading business organisations from the media, legal, accounting, financial services, IT, energy and transport sectors. Canary Wharf Group has also developed and successfully let over 300 shops, bars, cafes and restaurants including many of Britain’s leading brands.

In addition to development on the Canary Wharf Estate, the Group is also involved with projects across London. The Pan Peninsula and Drapers Gardens developments have been successfully completed and construction continues on 20 Fenchurch Street (Walkie Talkie) in the City of London which is nearly fully let. The Group is also in a joint venture with Qatari Diar for the redevelopment of the Shell Centre on London’s South Bank. www.canarywharf.com

About the Living Wage Foundation
The Living Wage is an hourly rate set independently and updated annually. The Living Wage is calculated according to the basic cost of living in the UK. Employers choose to pay the Living Wage on a voluntary basis. The Living Wage enjoys cross party support, with public backing from the Prime Minister and the Leader of the Opposition.

The London Living Wage is currently £8.80 per hour. This figure is set annually by the Greater London Authority and covers all boroughs in Greater London. The UK Living Wage for outside of London is currently £7.65 per hour. This figure is set annually by the Centre for Research in Social Policy at Loughborough University.

The Living Wage Foundation recognises and celebrates the leadership shown by accredited Living Wage employers across the UK of which there are currently over 860.The Foundation is an initiative of Citizens UK and believes that work should be the surest way out of poverty. www.livingwage.org.uk