Businesses Most Trusted in a Polarizing World, Report Says

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People around the world are more pessimistic than ever about the economic outlook, far more than other institutions such as governments, nonprofits and the media in an increasingly divided world, according to a survey by public relations firm Edelman. We trust business.

An online survey conducted in 28 countries, released late Sunday as the World Economic Forum gathers business elite and government leaders in Davos, Switzerland this week, shows who believe their families will be better off in five years. It shows that there is less

40% of people believe their lives will be better, down from 50% last year, a record low across 24 countries. That’s because 89% fear losing their jobs, 74% worry about inflation, 76% worry about climate change, and 72% worry about nuclear war.

According to the Edelman Trust Barometer, 62% of respondents believe business is competent and ethical, compared to 59% of non-governmental organizations, 51% of governments and 50% of media. This was due to how companies treated their employees and returned to the office during the COVID-19 pandemic, and many companies vowed to pull out of Russia after it invaded Ukraine. .

People said they still don’t trust CEOs, government leaders and journalists, but they do trust their own executives, colleagues and neighbors. He 76% of respondents trusted scientists the most.

Edelman CEO Richard Edelman said: “Respondents, six to one, want more social engagement by businesses on issues such as climate change, economic inequality and reskilling the workforce.”

But businesses face intense controversy for diving into these topics, with 52% saying politicization is inevitable when tackling divisive social issues, he said.

Despite the uncertainty, people want companies to stand up for them. 63% say they buy or support brands based on their beliefs and values.

Most respondents say businesses should do more to address climate change, economic inequality and other issues.

This is because social divisions are entrenched, creating a polarized world where people feel unable to overcome their differences or are willing to help others who do not share the same beliefs. I feel like I can’t even do that.

Less than a third of respondents will help, live with, or work with someone who strongly disagrees with them. Her six countries — Argentina, Colombia, the United States, South Africa, Spain, and Sweden — are described as deeply polarized due to mistrust of governments and a lack of shared identity.

People fear that if divisions are not addressed, stigma and discrimination will worsen as a result, slowing economic development and leading to street violence, the report said.

More than 40% of surveys believe governments and businesses need to work together to solve social problems, and as the most trusted institutions, businesses have a responsibility to bring people together.

Most respondents (64%) said companies that support politicians and media outlets in building consensus help increase civility and strengthen society.

Now in its 23rd year, the Edelman Trust Barometer surveyed more than 32,000 people online from November 1st to November 28th in 28 countries from Argentina to Saudi Arabia to the United States.

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