30/08/2007 – Lloyd�s, the world�s leading specialist insurance market, today announced that its grant-making body has become the first founding supporter of a new fund established to aid peace building by promoting best business practice in conflict prone areas.
Created by International Alert, one of the world�s leading peace building non-governmental organisations, the priorities of the Business and Peace Fund will help to develop corporate awareness of its role in regions of conflict and to allow for a deeper engagement with businesses without compromising impartiality.
Lloyd�s Charities Trust is donating �50,000 to help set up and develop the fund. According to International Alert, over 125 armed conflicts have raged since the Cold War, killing more than 7 million people, mostly civilians. Lloyd�s recent 360 research project, Under Attack? Global business and the threat of political violence, found only a small minority of businesses would build bridges with the local community during a conflict, which is the area that International Alert helps with.
Nick Gooding, Chairman of Lloyd�s Charities Trust, said:
�Through the terrorism and political risk research that Lloyd�s undertook in this year�s 360 project we found that global businesses can often, unknowingly, exacerbate political risk exposure, and could do more to be part of the solution in some of the volatile countries they operate in. This donation will help International Alert to provide practical advice and guidance for these businesses.
�Each year the Lloyd�s Charities Trust provide additional funding to a significant project that has links to issues of interest in the Lloyd�s market. International Alert�s reputation and experience working with businesses made it the obvious choice to partner with.�
A key part of International Alert’s work on business and conflict issues is the development, together with others, of �Red Flag Guides�, forthcoming publications outlining potential legal liabilities for companies operating in zones of conflict, making people more aware of potential risks and how to manage them appropriately for social benefit.
Dan Smith, Secretary General of International Alert, said:
�We are excited that Lloyd�s Charities Trust is involved with International Alert and their donation will go a long way in realising the objectives of the Fund. As both organisations deal with issues of risk, we particularly welcome the association between International Alert and Lloyd�s in the future.�
Dan Smith also appears with market experts in Political Risk in Emerging Markets, the first in a series of short videos Lloyd�s will produce this year to explore how companies can get to grips with political risk issues. This video is available at www.lloyds.com/360expertopinion.
About Lloyd’s Charities Trust
Lloyd�s Charities Trust is the grant making charity for the Lloyd�s market. Established over fifty years ago, The Trust has a long tradition of providing charitable support to a wide range of national and international charities on behalf of the Lloyd�s market. It works with and supports three partner charities, which change every three years. The current partner charities are: Hope and Homes for Children, Macmillan Cancer Support, St Giles Trust. This year, Lloyd’s Charities Trust is also launching an annual Special Award of which International Alert is the first recipient. www.lloyds.com