NUS and Lloyd’s Register Foundation launch the Lloyd’s Register Foundation Institute for the Public Understanding of Risk

Established through a generous gift of £10 million from Lloyd’s Register Foundation and £11 million in funding from NUS, the new Institute is a first in Asia to enhance public understanding of risk 

03 October 2016, Singapore – The National University of Singapore (NUS) and Lloyd’s Register Foundation today officially launched the Lloyd’s Register Foundation Institute for the Public Understanding of Risk at NUS, the first international academic and public outreach institution of its kind in Asia. 

In its academic role, this new Institute will spearhead transformative research on the scientific understanding of risk and its practical application through a multi-disciplinary approach that brings together science, engineering, social sciences, and humanities. As a public outreach institution, it would endeavour to serve as a trusted and authoritative voice to enhance public dialogue on risk issues that are relevant to communities in parts of Asia and internationally. Through research, education, and outreach, it aspires to be a world leading node of excellence to pave the way for policy makers, regulators, business leaders, scientists, and the general public to make better decisions collectively for the betterment of society. 

The new Institute was officially launched today by Singapore Minister for National Development and Second Minister for Finance Mr Lawrence Wong. 

The Lloyd’s Register Foundation Institute for the Public Understanding of Risk was established through a generous gift of £10 million from the Foundation, a charitable foundation based in the United Kingdom (UK) that works to enhance the safety of life and property and advance public education. This is the Foundation’s largest gift outside the UK to date, and it is also the largest gift towards research that NUS has received from a foreign foundation. In line with NUS’ commitment to the Institute, the University will contribute £11 million in funding for the new Institute. 

NUS President Professor Tan Chorh Chuan said, “Understanding risks and the effective communication of these risks are areas that are vital to nearly all societies, and often underdeveloped in many parts of the world. The new Lloyd’s Register Foundation Institute for the Public Understanding of Risk at NUS will help to bridge this gap in Asia, and take the lead in high quality research in this underserved area. 

“We are deeply appreciative to the Foundation for its generosity and partnership, and for sharing our conviction in pushing for pioneering work in this area of significant and growing importance. Our goal is to carry out research, education and public outreach programmes that will have a high impact in advancing public discussion and understanding of risks in areas which are of importance, particularly for Singapore and Asia.” 

Managing Director for Lloyd’s Register Foundation Professor Richard Clegg said, “We are delighted to be working with NUS in establishing this first Institute for the public understanding of risk centered in Asia. The Institute will play a vital role in Asia and internationally in helping policy makers, decision makers, and opinion formers in government, industry, regulators, the media, and the general public make better decisions on risk issues. The public understanding of risk is one of the four strategic themes of the Lloyd’s Register Foundation and working in true partnership with NUS is going to make real impact in this field for the ultimate benefit of society.”

For the full press release see http://www.lrfoundation.org.uk/news/2016/NUS-LRF-understanding-of-risk.aspx