Two prominent firms, Lloyd's of London and Greene King, have acknowledged their ties to the slave trade and pledged to make amends
The plinth on which the statue of Edward Colston previously stood in Bristol, England, surrounded by messages of support for the Black Lives Matter movement, on June 11, 2020. Britain’s uneasy confrontation with its racist history moved from statues in town squares to corporate boardrooms this week, as two prominent British firms announced they would make amends for their involvement in the slave trade in the 18th and 19th centuries.
Image: James Beck/The New York Times
LONDON — Britain’s uneasy confrontation with its racist history moved from statues in town squares to corporate boardrooms this week, as two prominent British firms, Lloyd’s of London and Greene King, announced they would make amends for their involvement in the slave trade in the 18th and 19th centuries.
Lloyd’s, the insurance giant, and Greene King, which owns pubs and breweries, have been forced to answer for sinister chapters in their past, as part of an unsparing focus on racism brought on by the Black Lives Matter protests against the killing of George Floyd, a black man, by the police in Minneapolis.
Researchers at University College London documented how several important early figures in both firms had enslaved hundreds of people and were compensated for their loss after the British Empire abolished slavery in 1833.
Lloyd’s and Greene King each said they would invest in recruiting more black, Asian and other minority employees and provide financial support to charities that promote diversity and inclusion. Neither made a concrete monetary pledge nor referred to their commitments as reparations, but both expressed deep regret.
“There are some aspects of our history that we are not proud of,” said a statement from Lloyd’s, an insurer that traces its roots to 1686, when it pioneered the market for marine insurance. “This was an appalling and shameful period of British history, as well as our own,” the statement continued, “and we condemn the indefensible wrongdoing that occurred during this period.”
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