November 2022
Intermediate to advanced
8 pages
20m
English
article
Why Corporate Success Requires Dealing With the Past
by Sarah Federman, Judith Schrempf-Stirling
Content preview from Why Corporate Success Requires Dealing With the Past
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Why Corporate Success Requires Dealing With the Past
Customers, employees, and citizens expect companies to address historic transgressions and work toward a positive legacy.
Between the 17th and 19th centuries, the venerable British company Lloyd’s of London sold insurance policies on enslaved people and the ships that transported them.1 In recent times, events such as the May 2020 killing of George Floyd by police in Minneapolis, together with ongoing concerns about racism and racial injustices, have intensified the pressure on companies to recognize their contributions to the trans-Atlantic slave trade. In June 2020, Lloyd’s of London issued a direct and unambiguous apology: “We ...
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