English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Trust between government and business hits new low

NEW YORK: Public relations firm Edelman says the 14-point gap between business and government trusting each other is now the largest since it began the series in 2001.

Following a survey of 33,000 people in 27 countries, the company says the trust divide is over 20 points in nearly half - including 21 points in the U.S., India (26 points) and Brazil (36 points).

"In a few nations, the divide is as much as 40 points. This is a profound evolution in the landscape of trust from 2009, where business had to partner with government to regain trust, to today where business must lead the debate for change," it says.

The barometer says trust in government fell globally four points to an historic low (44 percent) in 2013, making it the least trusted institution for the third consecutive year. The drop in government trust was even more dramatic on a country level, falling in the U.S. (16 points to 37 percent), France (17 points to 32 percent) and Hong Kong (18 points to 45 percent). Among the general population trust in government fell Spain 14 percent in Spain, 18 percent in Italy and 20 percent in France.

Edelman Trust barometer 2014However according to Richard Edelman, company president and CEO, it would be a "monumental error in judgment" if businesses interpret the new data as an opportunity to push for deregulation.

"Our research indicates a reputation hangover for business from the Great Recession of 2008. Events of the past 12 months, including a record fine of $13 billion for J.P. Morgan on the sale of troubled mortgage securities, the largest ever bankruptcy in Latin America with the failure of Eike Batista's EBX deep-water oil drilling firm, and food scandals involving antibiotics in the poultry in China, have renewed concerns about business' ability to self-regulate."

Edelman says there is an opportunity for companies to make their case for change, with 84 percent of respondents believing corporations can pursue self-interest while doing good work for society. To this end, he suggests CEOs become "Chief Engagement Officers" and use a public platform for change – rather than relying on lobbying regulators or elected officials.

"Go on tour, engaging in debate with critics, informing media of all stripes, from mainstream to social. Enable your partners, from NGOs to academics, by briefing them regularly. Foster a culture that supports employees speaking out, amplifying the engagement and creating mass movement," he declares.

"We strongly urge business to take the chance to redefine value as being also about values, to connect with its stakeholders in a deeper manner by explaining the economic, societal and environmental context in which it seeks to operate. Trust will be conveyed to those companies and industries that recognize the need to move beyond transactional thinking toward better understanding of the tangible actions that will solve the issues we face," he concludes.

News

Written on 21/07/2017, 19:35
new-india-tax-will-mean-savings-say-expertsDELHI: July 21, 2017. The implementation of a new Goods and Services tax (GST) in India, as a replacement for a myriad of local and state levies, has...
Written on 20/07/2017, 22:27
america-s-largest-trade-gateway-aims-for-near-zero-emissionsSAN PEDRO BAY, CA: July 19, 2017. The ports of Los Angeles and Long Beach, America's two largest ports, have published a plan to reduce trucks and...
Written on 19/07/2017, 17:41
post-brexit-britain-to-rely-on-emerging-marketsBAAR, Switzerland: July 19, 2017. As Britain's Conservative government acknowledges the one-time cost of leaving the EU could be £66 billion, Agility...
Written on 18/07/2017, 18:26
politics-not-economics-key-to-inequality-says-researchBOSTON: July 17, 2017. Research by Oxfam suggests the poorest half of the world's population has received one percent of the total increase in global...
Written on 14/07/2017, 19:08
first-circular-economy-msc-launchedCRANFIELD, UK: July 14, 2017. Cranfield University is launching the world's first MSc course on the circular economy in October. The part-time...
Written on 14/07/2017, 16:23
delta-q2-cargo-revenue-upATLANTA: July 14, 2017. Delta Air Lines has reported a second quarter (Q2) 2017 net profit of US$1.22 billion on revenue of US$10.79 billion, compared...
Written on 13/07/2017, 19:28
100-companies-can-save-the-planetLONDON: July 10, 2017: New research from the Carbon Disclosure Project (CDP) reveals that 71 percent of all greenhouse gas emissions (GHGs) since 1998,...
Written on 12/07/2017, 18:29
turkey-continues-airlift-to-qatarISTANBUL: July 12, 2017. A report from Reuters says Turkey has sent 197 freighter aircraft, 16 trucks and one ship to Qatar since the political crisis...
Written on 09/07/2017, 20:51
emirates-airline-wins-on-waterAUCKLAND: July 06, 2017. Emirates Team New Zealand returned to a hero's welcome after winning the 35th America's Cup 7:1 against defending champion Oracle...
Written on 07/07/2017, 20:44
lufthansa-cargo-to-gain-from-eu-japan-dealBRUSSELS: July 06, 2017. On the eve of the G20 summit, the EU and Japan have sent a signal to protectionists by agreeing in principle to a deal covering...
Written on 07/07/2017, 19:39
british-business-calls-for-brexit-common-senseLONDON: July 07, 2017. The UK Confederation of British Industry (CBI) says in order to protect jobs and trade flows the UK should remain in the Single...
Written on 07/07/2017, 17:04
uk-customs-approves-cyber-attack-fail-safeLONDON: July 06, 2017. The British International Freight Association (BIFA) says it welcomes the UK government's decision to support 'CCS-UK Fallback', an...
Written on 07/07/2017, 15:44
africa-tops-airfreight-demand-in-mayGENEVA: July 05, 2017. IATA says the global airfreight market rose 12.7 percent in May compared to the same month last year, as capacity rose 5.2 percent...
Written on 06/07/2017, 20:51
flying-cheetah-drone-wins-amazon-competitionCAMBRIDGE, UK: July 05, 2017. 'Hannah M' from Ballymena, Northern Ireland has won the Amazon/UK Civil Aviation Authority (CAA) 'Design a Drone'...
Written on 30/06/2017, 21:01
ethiopian-airlines-makes-room-for-more-flowersADDIS ABABA: June 29, 2017. During the second ICAO Global Air Cargo Development Forum this week, Ethiopian Airlines opened its new air cargo terminal with...
Written on 29/06/2017, 22:17
facing-death-from-starvationHARGEISA, Somaliland: June 29, 2017: Save the Children says more than 20,000 children across nine districts in Somalia risk starving to death unless the...
Written on 29/06/2017, 20:13
uk-logistics-industry-threatenedTUNBRIDGE WELLS, UK: June 29, 2017. Britain's Freight Transport Association (FTA) has warned that without EU workers after 2019, the country's logistics...
Written on 26/06/2017, 21:45
making-the-best-of-an-ipoHANGZHOU, China: June 26, 2017. Best Inc., a logistics company backed by the Alibaba Group, has applied for a listing on the New York Stock Exchange and...
Written on 23/06/2017, 20:22
xpo-hit-by-port-strikeLOS ANGELES/LONG BEACH: June 23, 2017. Port and rail drivers working as independent contractors for XPO Cartage, part of XPO Logistics, began a strike...
Written on 21/06/2017, 22:44
more-disasters-but-less-moneyGENEVA: June 21, 2017. The United Nations says it needs US$23.5 billion in 2017 to provide humanitarian assistance to a record 141 million people in 37...

- powered by Quickchilli.com -