Lightsource Renewable Energy Holdings, Europe’s largest solar energy generator, has today achieved accreditation from the Living Wage Foundation.
This commitment will see everyone working at Lightsource, regardless of whether they are permanent employees or third-party contractors, receive a minimum hourly wage of £9.40 in London and £8.25 outside of the capital – significantly higher than the national minimum wage of £6.70 and the new minimum wage premium for over 25s of £7.20 per hour introduced this April.
Living Wage Foundation Director, Katherine Chapman said: “We are delighted to welcome Lightsource Renewable Energy Holdings to the Living Wage movement as an accredited employer.
“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.”
This accreditation is yet another way for Lightsource to demonstrate their commitment to their reputation as a conscientious corporate entity.
CEO Nick Boyle stated: “We’re proud to be part of a growing network of responsible employers.
Joining the Living Wage Foundation is another example of Lightsource taking social responsibility seriously, as part of our ongoing attempts to be the best employer we can be. We want our staff to know we are dedicated to securing their future, year in, year out.”
The Living Wage is recalculated every year, and in order for businesses and organisations to retain their Living Wage accreditation, they must adjust the wages they pay their staff accordingl
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 £9.40 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 £8.25 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 Living Wage employers across the UK. There are currently over 2,600 accredited employers. We are an initiative of Citizens UK. We believe that work should be the surest way out of poverty.
We receive guidance and advice from the Living Wage Advisory Council. The Foundation is supported by ten principal partners: Aviva; Joseph Rowntree Foundation; KPMG; Linklaters; Nationwide; Nestle; Resolution Foundation; Save the Children; Trust for London; and Queen Mary University of London.