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Good morning from Davos. A series of new reports have been published ahead of the World Economic Forum’s annual meeting in Switzerland. The conference boasts more CEOs than any other event in the world.
I start with Edelman Confidence Barometer, a staple in Davos. Conducted for 23 years, this global survey of 32,000 people in 28 countries is known for its findings that businesses are more trusted around the world than governments, media and NGOs in recent years. I’m here. This continued this year with 62% trusting businesses, 59% trusting NGOs, 51% trusting governments and only 50% trusting media. In the US, companies score 55%, while government scores 42%. As in past years, “my CEO” is more trusted (64% globally) than the typical CEO (48%).
“Business is the only institution that can be considered competent and ethical,” said Richard Edelman, who initiated the study. “Governments, by contrast, are seen as unethical and incompetent.
But as confidence in business grows, so do expectations. Nearly half of respondents say their businesses are not doing enough to address climate change and economic inequality. Sixty-nine percent of workers also said that a company’s social impact is a “strong expectation” when considering a job, and 63% of consumers say they “see brands based on their beliefs and values.” purchase or endorse the
that made me deloitte CxO Sustainability Report, A survey of over 2,000 C-level executives in 24 countries found that climate change is the number one challenge facing businesses, second only to the economic outlook. Climate change ranked ahead of innovation, talent competition, supply chain challenges, and geopolitical challenges. 61% of respondents say the climate will have a ‘significant’ or ‘very large’ impact on their organization’s strategy and operations over the next three years. Executives also expressed optimism about their ability to meet the challenges of climate change, with 84% agreeing or strongly agreeing that the world can achieve global economic growth while meeting climate change goals. I agree.
However, the survey found that only 33% of executives said they linked executive pay to environmental sustainability performance, and they incorporated climate change concerns into their lobbying and political campaigns. Only 32% said yes.
Deloitte Global CEO Joe Ucuzoglu said:
Separately, a Page Society survey of corporate chief communications officers found that 65% cited “stakeholder capitalism” as the biggest business opportunity in 2023, and 42% cited “economic instability.” Certainty” was cited as the biggest risk in the year ahead.
Read Edelman’s research here, Deloitte’s research here, and Page’s research here. More news below.
Alan Murray
@alansmurray
alan.murray@fortune.com
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of this edition CEO Daily Edited by Claire Gilman.
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