Businesses and government need better partnership to tackle terrorism
5 October 2007
Business and government must work more closely together if society is to get to grips with the changing international risk environment, suggests a new poll from Lloyd’s.
An overwhelming 97% of respondents believe that business has a responsibility towards the local community in conflict-prone areas, while over one-third say that the business community is not currently doing enough to help. The view that business can make a real difference to society by working alongside governments and international bodies’ ties in strongly with research carried out by Lloyd’s with the Economist Intelligence Unit earlier this year.
However, Dan Smith, Secretary General of leading peace-building non-governmental organisation International Alert, believes that effective local engagement only happens when companies actively invest in understanding the international markets where they operate, he says:
“For companies to get the information they need, the local media is simply not enough. They need to know more then just news of events; they need to understand the trends and context.”
The good news, he says, is that this information is available from a range of sources:
“You need people who have a feel for the country and have spent time on the ground. If you do not possess those skills in house then you need to outsource that to other NGOs. International Alert are a good option as they have people on the ground and are impartial.”
In the challenging 21st century risk environment, the need for closer co-operation is not limited to terrorism and political risk. Speaking at a London conference launching ClimateWise recently, HRH the Prince of Wales applauded the insurance industry, British businesses and the Government for working together and getting to grips with the ever changing risk environment. Emphasising the importance of continued engagement, he said: “we have to think of this as if we were in a war-time situation – that’s the seriousness of the situation.”
Professor Bill McGuire, one of the world’s leading experts on climate change and director of Benfield UCL Hazard Research Centre, agrees that ClimateWise is a good starting point but highlights the importance of the insurance industry working better together to tackle the issue:
“By putting its house in order and becoming carbon neutral, the industry could go to government in a position of strength in order to push for big cuts in the emissions that will otherwise bring increasing problems for the insurance market. While Lloyd’s has been helping to raise awareness of the issues and lobbying government to do something, there is a very long way to go,” he said.
Last updated on 11 Oct 2007
