Two Leading UK Firms To Pay Compensation Over Founders' Links With Slave Trade - Reports

Two leading UK firms have committed to pay compensation to ethnic minorities after an academic database uncovered that their founders had links to the slave trade, the Daily Telegraph newspaper reports on Thursday

MOSCOW (UrduPoint News / Sputnik - 18th June, 2020) Two leading UK firms have committed to pay compensation to ethnic minorities after an academic database uncovered that their founders had links to the slave trade, the Daily Telegraph newspaper reports on Thursday.

According to the database, the founder of the Greene King brewer received almost 500,000 Pounds ($625,000) in compensation after the UK government abolished slavery in 1833, the newspaper stated. Benjamin Greene reportedly received the funds for surrendering his right to plantations in the West Indies.

"It is inexcusable that one of our founders profited from slavery and argued against its abolition in the 1800s. We don't have all the answers, so that is why we are taking time to listen and learn from all the voices, including our team members and charity partners, as we strengthen our diversity and inclusion work," Greene King Chief Executive Nick Mackenzie told the newspaper, adding that the company will make a substantial investment to benefit black, Asian, and minority ethnic communities.

Leading insurance firm Lloyd's of London has also pledged to pay compensation after it was revealed that founder subscriber member Simon Fraser received just over $500,000 to compensate for the loss of an estate on the Caribbean island of Dominica, the newspaper reported.

"We will provide financial support to charities and organizations promoting opportunity and inclusion for black and minority ethnic groups," a spokesman for the insurer said, as quoted by the newspaper.

Leading UK companies and officials have been prompted to reassess the country's role in the slave trade amid a wave of protests against racial inequality after the killing of African American man George Floyd by police in the US on May 25.

On June 7, protesters in the UK city of Bristol tore down a statue of 18th-century slave trader Edward Colston, before dumping the monument in the sea.

Prime Minister Boris Johnson has said that removing controversial statues is akin to lying about the country's history.