The 2023 Edelman Trust Barometer, made available exclusively by EDC, Edelman’s subsidiary in Portugal, reveals that companies are now seen as the only competent and ethical global institution. Companies have an impressive 53-point lead over government in terms of competence and are 30 points ahead when it comes to ethics.
Conclusions from the 2023 Edelman Trust Barometer
The treatment of employees during the pandemic and return to work, along with the swift and decisive action of more than 1,000 companies to leave Russia after the invasion of Ukraine, helped fuel a 20-point jump in ethics over the past three years.
“The rise in business perception of ethics brings with it higher expectations than ever before for CEOs to be a leading voice on social issues,” says Richard Edelman, CEO of Edelman.
This year’s report also concludes that economic optimism has collapsed globally (50 percent to 40 percent). Half of the countries surveyed show a double-digit year-over-year decline in the belief that their families will be better off in five years.
The most notable developments in trust inequalities based on income since 2021 were in China (from a gap of 4 to 19 points) and the United Arab Emirates (from 10 to 19 points). The US (23-point gap) and Thailand (37-point gap) show the largest divides in 2023.
The Trust Barometer considers nearly a quarter of the countries surveyed to be severely polarized, including the US, Colombia, Argentina, South Africa, Sweden, and Spain. When divisions become entrenched, polarization occurs and respondents believe their differences can no longer be overcome.
Other findings from the 2023 Edelman Trust Barometer
- Personal economic fears, such as job loss (89 percent) and inflation (74 percent), are on par with pressing social fears, such as climate change (76 percent), nuclear war (72 percent), and food shortages (67 percent).
- CEOs are expected to use their resources to hold divisive forces accountable: 72 percent believe CEOs have an obligation to defend facts and expose questionable science when used to justify bad social policies; 71 percent believe CEOs have an obligation to withdraw advertising money from media platforms that spread misinformation.
- The government (51 percent) is viewed with some discredit in 16 of the 28 countries surveyed, including the US (42 percent), the UK (37 percent), Japan (33 percent), and Argentina (20 percent). The media (50 percent) is viewed in the same way in 15 of the 28 countries, including Germany (47 percent), the United States (43 percent), Australia (38 percent), and South Korea (27 percent).
