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The Geopolitical Business

Special Report | 51 pages

Special Report : The Geopolitical Business

2 EXPECTATIONS FOR BUSINESS: MORE PRESSURE TO ACT, MORE ISSUES TO ADDRESS March 2020 May 2020 September 2021 November 2021 November 2021 COVID - 19 pandemic Racial justice Employee activism ESG Climate change Business must act to protect employees and the community Taking a stand on racial justice seen as moral and societal obligation for brands Employees expect opportunities for social impact through their job Investors subject ESG to the same scrutiny as operational and financial considerations Brands should bear the burden of making environmentally - friendly products affordable Trust and the Coronavirus Brands and Racial Justice The Belief - Driven Employee Institutional Investors Climate Change From the Edelman Trust Barometer...

3 Unless otherwise indicated, global averages include all countries surveyed. Due to the sensitive nature of some questions, certain data was prevented from being collected in China. When this occurs an average of 13 countries is shown. 14 - market global data margin of error: Full sample +/ - 0.8% (n=14,000); half - sample +/ - 1.2% (n=7,000). Country - specific data margin of error: Full sample +/ - 3.1% (n=1,000); half - sample +/ - 4.4% (n=500). Methodology 2022 EDELMAN TRUST BAROMETER SPECIAL REPORT: THE GEOPOLITICAL BUSINESS Online survey Fieldwork conducted: April 26 – May 2, 2022; The U.S. was fielded from April 26 – May 10, 2022 14 14,000 1,000 countries respondents respondents/country Brazil Canada China France Germany India Japan Mexico Saudi Arabia S. Africa S. Korea UAE UK U.S. All data is nationally representative based on age, region and gender

AMIDST UKRAINE CRISIS, TRUST RISES IN WEST

5 Trust Index JANUARY TO MAY 2022: LARGE TRUST GAINS IN UK, U.S. AND GERMANY 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. The Trust Index is the average percent trust in NGOs, business, government and media. TRU_INS. Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. 57 Global 14 80 China 76 India 75 UAE 71 Saudi Arabia 60 Mexico 55 Canada 53 Brazil 52 France 50 Germany 50 UK 49 S. Africa 49 U.S. 44 S. Korea 41 Japan Jan 2022 General population May 2022 General population Change, Jan 2022 to May 2022 - 0 + 56 Global 14 83 China 76 UAE 74 India 72 Saudi Arabia 59 Mexico 54 Canada 51 Brazil 50 France 48 S. Africa 46 Germany 44 UK 43 U.S. 42 S. Korea 40 Japan Distrust (1 - 49) Neutral (50 - 59) Trust (60 - 100) - 3 +2 - 1 - 1 +1 +1 +2 +2 +4 +6 +1 +6 +2 +1 Biggest gains: UK U.S. Germany Biggest decline: China +6 +6 - 3 +4

6 Percent trust JANUARY TO MAY 2022: GOVERNMENT GAINS, BUSINESS STILL MOST TRUSTED 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_INS. Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. Change, Jan 2022 to May 2022 62 59 56 52 Business NGOs Government Media Global 14 +1 +1 +3 +2 Change, Jan 2022 to May 2022 - 0 + Distrust (1 - 49) Neutral (50 - 59) Trust (60 - 100) +/ - U.S. +6 Germany +7 Brazil +6 UK +10 UK +5 U.S. +6 U.S. +6 U.S. +6 Greatest changes in: U.S. and UK see strong trust gains across institutions

7 Percent trust JANUARY TO MAY 2022: TRUST RISES AMONG THOSE WITH HIGH INCOME, INCOME - BASED TRUST DIVIDE WIDENS 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. The Trust Index is the average percent trust in NGOs, business, government and media. TRU_INS. Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg., by income. 52 50 50 43 72 69 62 60 49 TRUST INDEX Among high income Top 25% Among low income Bottom 25% Trust inequality, high vs. low income 66 TRUST INDEX +2 +3 +3 +3 +3 pts +1 pt Business NGOs Government Media 19 17 pts 20 12 17 0 0 +3 +1 Distrust Neutral Trust Change, Jan 2022 to May 2022 - 0 +

8 HIGHEST INCOME - BASED TRUST GAPS IN THE WEST 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. The Trust Index is the average percent trust in NGOs, business, government and media. TRU_INS. Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg., by income. Trust inequality May 2022 Low income May 2022 High income 66 Global 14 85 China 81 UAE 80 India 74 Saudi Arabia 71 UK 67 Germany 67 Mexico 63 France 61 U.S. 60 Canada 59 Brazil 52 Japan 52 S. Africa 49 S. Korea 12 13 10 12 34 28 18 23 10 21 9 13 12 23 49 Global 14 73 China 70 India 68 UAE 62 Saudi Arabia 50 Canada 49 Mexico 47 Brazil 43 S. Africa 40 France 39 Germany 38 U.S. 37 UK 36 S. Korea 31 Japan 17 pts s Greatest inequalities in... UK Germany France U.S. 34 pts 28pts 23pts 23 pts Trust Index Distrust (1 - 49) Neutral (50 - 59) Trust (60 - 100) Record trust inequality

9 Percent trust, in the U.S. JANUARY TO MAY 2022: U.S. TRUST RISES ACROSS INSTITUTIONS AND PARTY LINES 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. The Trust Index is the average percent trust in NGOs, business, government and media. TRU_INS. Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, U.S., by political affiliation. 56 43 35 30 61 61 60 61 Distrust Neutral Trust Change, Jan 2022 to May 2022 - 0 + 41 TRUST INDEX Democrats Republicans Trust gap, Democrats vs. Republicans 61 TRUST INDEX +6 +4 +7 +6 +6 pts +6 pts Business NGOs Government Media 18 20 pts 5 25 31 Business no longer distrusted +8 +5 +6 +6 All institutions now trusted

10 Percent trust in companies headquartered in each country JANUARY TO MAY 2022: GREATEST TRUST GAINS FOR HOME COUNTRY BRANDS IN U.S. AND UK 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_NAT. Now we would like to focus on global companies headquartered in specific markets. Please indicate how much you trust global companies headquartered in the following markets to do what is right. 9 - point scale; top 4 box, trust. Question asked of half of the sample. General population, by market. Data is showing percent trust in each market of companies headquartered in that market , as well as the average trust of companies HQ’d in countries outside of respondents’ country (also excluding Russia). 89 82 76 72 70 67 66 65 60 India China Canada U.S. UK Germany France S. Korea Japan +4 - 10 +3 +13 +11 +5 +5 +2 +5 Change, Jan 2022 to May 2022 - 0 + Distrust Neutral Trust Domestic trust in companies headquartered in each market Surge in domestic trust in the U.S. and UK Trust in foreign companies among respondents in each market 71 58 44 49 46 43 41 41 35 Trust gap, domestic vs. foreign 18 pts 24 32 23 24 24 25 24 25

UKRAINE CRISIS: A NEW TEST FOR BUSINESS

12 Percent who say NEARLY 1 IN 2 BUY OR BOYCOTT BRANDS BASED ON UKRAINE RESPONSE 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. BEH_CNG. Which of the following have you done in response to how a brand or company has responded to Russia's invasion of Ukraine? Pick all that apply. General population, 13 - mkt avg., and by demographics. Data not collected in C hina. Data is a net of attributes 1 - 3. 50 43 54 47 38 45 47 52 Men Women 18-34 35-54 55+ Low Middle High 64 63 57 49 47 46 44 44 42 41 41 40 30 Global 13 47 % Markets Gender | Age | Income I have altered my behavior toward a brand or company based how it has responded to Russia's invasion of Ukraine Changed behaviors: Started or stopped buying a brand Encourage others to stop buying a brand n/a GLOBAL 13 Not asked in China (net)

13 My employer is.... LESS EMPLOYEE LOYALTY AND ADVOCACY WHEN UKRAINE RESPONSE FALLS SHORT 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. EMP_ENG. Thinking about your current employer, to what extent do you agree with the following statements? 9 - point scale; top 4 box, agree. Question asked to those who are an employee of an organization (Q43/1). RUS_SANC_APP. Overall, how well is your employer doing in meeting your expectations for how it should be responding to the Russian invasion of Ukraine? 5 - point scale; codes 1 - 3,99, not doing well; to p 2 box, doing well. Question asked to those who are an employee of an organization (Q43/1). General population, 13 - mkt avg. Data not collected in China for RUS_SANC_APP. Percent of employees who agree with each statement, among those who say their employer is or is not doing well in meeting their expectations Doing well NOT doing well 79 80 55 54 Loyalty Employer advocacy in meeting my expectations for how it should respond to the Ukraine conflict 24 pts less likely to be loyal I want to stay working for my employer for many years I would recommend my employer as an employer to others 26 pts less likely to be employer advocates GLOBAL 13 Not asked in China

14 Percent who say each company response to the Ukraine conflict would affect their trust in each way TRUST IN COMPANIES AT STAKE BASED ON RESPONSE TO THE UKRAINE CONFLICT 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. UKE_TRST. Different companies have responded in different ways to Russia's invasion of Ukraine. What effect would each of the following behaviors have on your trust in a company that has responded in this way to the Russian invasion? 6 - point scale; bottom 3 box, decrease or eliminate trust; top 2 box, increase trust. General population, 13 - mkt avg. Data not collected in China. Dat a is showing the difference between those who say each would increase vs decrease or eliminate trust. For the full question text, please refer to the appendix. MORE TRUST FOR TAKING ACTION If a company... Net, likelihood to increase vs. decrease my trust ceases business in Russia; protects safety of ex - employees +31 pts temporarily suspends business in Russia +27 Supports humanitarian efforts with no further action +10 GLOBAL 13 Not asked in China LESS TRUST FOR NOT TAKING ACTION If a company... Net, likelihood to increase vs. decrease my trust carries on doing business in Russia - 38 pts makes a statement in support of Ukraine with no further action - 20 no new investments in Russia, but maintains current operations - 15

15 Percent who say ALL SECTORS MUST TAKE ACTION ON UKRAINE CRISIS 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. SNC_PASS. Which, if any, of the following types of companies do you believe should be free to continue doing business in Russia due to the nature of the products and services they provide? Pick all that apply. Question asked of half t he sample. General population, 13 - mkt avg. Data not collected in China. “All of the above” added to each answer option. Companies in this industry should be free to continue doing business in Russia due to the nature of the products and services they provide 40 36 34 33 28 28 27 26 26 24 24 22 22 21 21 20 50 % Majority do not agree companies should continue doing business in Russia GLOBAL 13 Not asked in China

CALL FOR BUSINESS ACTION NOW EXTENDS TO GEOPOLITICS

17 Create jobs Provide safe and reliable products Drive innovation Grow the economy Wealth creation Provide training to employees Support local communities Provide trustworthy information Address climate change, pollution, poverty, and food/water insecurity Address discrimination, wage inequality, healthcare, and education Promote cooperation across political differences 85 % Economic responsibilities 77 % Societal responsibilities Cultivate admiration for our country's values Punish countries that violate human rights and international law 59 % Geopolitical responsibilities On average, percent who say NEARLY 6 IN 10 WANT BUSINESS TO ADD GEOPOLITICAL ISSUES TO ITS AGENDA 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. CORP_ROLE. Do you consider each of the following to be a primary, secondary, or not a responsibility of business? 3 - point scale; code 1, primary; code 2, secondary. Sum of codes 1 and 2. General population, 14 - mkt avg. “Economic responsibilitie s” is an average of attributes 1 - 2, 4 - 6. “Societal responsibilities” is an average of attributes 3, 7, 9 - 11, and 13. “Geopolitical responsibilities” is an average of attributes 12 and 14. Attributes unde r each responsibility grouping shown in rank order. For the full question text, please refer to the appendix. Each is a business responsibility:

18 Percent who say BUSINESS EXPECTED TO ACT IN RESPONSE TO AN UNPROVOKED INVASION 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. BUS_RESP. For each of the following scenarios, please indicate how you feel corporations that have business interests in the countries or markets involved should respond. Pick all that apply. General population, 14 - mkt avg. Data on the left is a net of codes 1 - 5. For the full question text, please refer to the appendix. Business expected to take one or more of these actions: P ublicly speak out against this behavior A pply political or economic pressure Combat misinformation and provide trustworthy information C ease new business investments Terminate business activities Business should carry on as usual 5 23 25 28 28 32 Global 14 95 % When a country engages in an unprovoked invasion of another country, I expect companies that have business interests in that country to respond in one or more ways (net)

19 Percent who say they would expect companies to respond in one or more ways if they have business interests in a country with one of these scenarios BUSINESS ACTION EXPECTED ON GEOPOLITICS BEYOND ACTIVE CONFLICTS 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. BUS_RESP. For each of the following scenarios, please indicate how you feel corporations that have business interests in the countries or markets involved should respond. Pick all that apply. General population, 14 - mkt avg. Data on the top row is a net of codes 1 - 5. For the full question text, please refer to the appendix. A repressive government Abusive labor practices Inadequate environmental protections 95 % 97 % 94 % I expect business to take one or more of these actions (net) 34 39 32 P ublicly speak out against this behavior 30 29 31 A pply political or economic pressure 29 26 30 C ombat misinformation and provide trustworthy information 23 24 24 C ease new business investments 18 22 14 T erminate business activities 5 3 6 Business should carry on as usual If a country has...

20 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. BUS_BEST. Which of the following most accurately characterizes, in your mind, the best - case scenario for the impact business could have in solving each of the following problems or challenges if it devoted a significant amount of its res ources and attention to addressing it? 5 - point scale; codes 3 - 4, small/moderately positive impact; code 5, game - changing impact. Question asked of half of the sample. General population, 14 - mkt avg. *Attribute not asked in China and is showing a 13 - mkt avg. For the full question text, please refer to the appendix. BUSINESS SEEN AS HAVING POWER TO INFLUENCE GEOPOLITICS Percent who say Small/moderately positive impact Game - changing positive impact Climate change Democratic and human rights reforms in other countries Get Russia to withdraw its forces from Ukraine* 21 18 29 56 61 70 If business devoted significant time and effort into addressing each issue , it could have a positive impact on...

21 Majority in 10 of 14 markets Majority in 13 of 14 markets BUSINESS EXPECTED TO DRAW A LINE IN THE SAND 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. CORP_SIDE. You are about to see a series of two choices. We want you to choose the one that best describes your beliefs. General population, 14 - mkt avg. For the full question text, please refer to the appendix. 55 % or Global 14 Businesses that fail to condemn and punish a country’s behavior express implicit approval of that behavior Businesses that condemn a country’s behavior are guilty of imposing their own sense of morality on a culture they may not understand Which do you agree with more? 62 % or Businesses have a moral responsibility to set limits on what is acceptable and pull out of countries that operate beyond them Because all countries engage in immoral behavior, such behavior is not a viable criterion for whether it is acceptable to do business in a particular country Which do you agree with more? Global 14

THE GEOPOLITICAL CEO

23 Percent who agree CEOS EXPECTED TO LEAD — NOT WAIT FOR GOVERNMENT TO ACT 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. CEO_AGR. Thinking about CEOs, how strongly do you agree or disagree with the following statements? 9 - point scale; top 4 box, agree. General population, 14 - mkt avg. ...commit human rights abuses rather than waiting for government to impose sanctions 64 % ...threaten our national security rather than waiting for government to impose sanctions 62 % CEOs should proactively curtail business activities in countries that...

24 Percent who agree CEOS EXPECTED TO PRIORITIZE HOME COUNTRY INTERESTS 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. CEO_AGR. Thinking about CEOs, how strongly do you agree or disagree with the following statements? 9 - point scale; top 4 box, agree. General population, 14 - mkt avg. 58 55 60 56 54 52 58 64 Men Women 18-34 35-54 55+ Low Middle High Change, May 2021 to May 2022 - 0 + 77 72 64 62 62 61 55 55 55 55 55 48 47 26 Global 14 57 % Markets Change , May 2021 to May 202 2 +3 pts +8 +5 +4 +3 +2 +6 +7 +4 - 2 +4 - 2 - 1 - 7 +1 +4 0 +8 - 2 +1 +7 0 +4 Gender | Age | Income A global CEO's first priority should be to use their resources to help the people of the country where they are headquartered before helping other countries

25 Strong/mandatory Some expectation Automation’s impact on jobs Wage inequality Global warming and climate change Prejudice and discrimination If companies should continue doing business in Russia despite its invasion of Ukraine* Whether countries guilty of human rights violations should be punished 40 42 48 51 53 51 21 19 20 20 19 21 61 61 68 71 72 72 Percent who expect CEOs to inform and shape conversations and policy debates about each issue CEOS EXPECTED TO SHAPE POLICY ON SOCIETAL AND GEOPOLITICAL ISSUES 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. CEO_RSP. For each of the following topics, please indicate to what degree corporate CEOs should be held responsible for directly helping to inform and shape ongoing conversations and policy debates. 5 - point scale; top 2 box, strong/ mandatory; code 3, some expectation. Question asked of half of the sample. General population, 13 - mkt avg. * Attribute not asked in China. For the full question text, please refer to the appendix. Majority expect CEOs to inform geopolitical issues GLOBAL 13 Not asked in China

26 Percent who say CEO MUST BE FRONTLINE COMMUNICATOR ON SOCIAL AND GEOPOLITICAL ISSUES 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. DRV_FOR. If a company wants to communicate credibly and effectively to you about its stand on a contentious social or geopolitical issue, and what actions it is planning to take to address that issue, who should they use to deliver t hei r message? Pick all that apply. Question asked of half of the sample. General population, 14 - mkt avg. For the full question text, please refer to the appendix. The CEO A corporate executive responsible for guiding the company on social issues The local CEO in the country or region A member of the Board of Directors The Chief Communications Officer or head of communications 18 18 19 22 31 Strongest support for the CEO as spokesperson in 12 of 14 countries A company should use the following spokesperson to communicate its response to a contentious social or geopolitical issue

3 4 2 1 GEOPOLITICS AND THE STAKES FOR BUSINESS Geopolitics is here to stay Geopolitics now front and center for CEOs, with a prominent place on the business agenda Societal issues at the fore Business must continue to prioritize societal issues and close the income - based trust divide CEOs must lead from the front CEOs expected to be the face of company policies and actions on geopolitics Economic growth and financial stability still the core remit Business must mitigate against impact of economic downturn on society

SUPPLEMENTAL DATA

29 81 80 76 74 70 65 61 56 55 54 53 52 46 45 Distrust Neutral Trust Change, Jan 2022 to May 2022 - 0 + Change, Jan 2022 to May 2022 +1 pt 62 Global 14 Percent trust in business JANUARY TO MAY 2022: TRUST IN BUSINESS RISES 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_INS. [BUSINESS] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. +2 - 4 - 2 0 - 1 +1 - 2 +2 +6 +5 - 1 +4 - 2 +2

30 89 85 82 79 57 55 49 48 47 45 45 40 39 28 Distrust Neutral Trust Change, Jan 2022 to May 2022 - 0 + Change, Jan 2022 to May 2022 +3 pts 56 Global 14 Percent trust in government JANUARY TO MAY 2022: TRUST IN GOVERNMENT RISES 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_INS. [GOVERNMENT] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. - 2 - 2 0 +5 +4 +2 +2 +5 +5 +3 +6 +6 +3 +2

31 Percent trust in media JANUARY TO MAY 2022: TRUST IN MEDIA RISES 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_INS. [MEDIA] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. 77 67 65 61 54 53 51 48 45 45 43 41 37 37 Distrust Neutral Trust Change, Jan 2022 to May 2022 - 0 + Change, Jan 2022 to May 2022 +2 pts 5 2 Global 14 - 3 +1 +1 - 3 0 +1 +4 +1 +10 +6 +5 0 +2 +4

32 Percent trust in NGOs JANUARY TO MAY 2022: TRUST IN NGOS RISES 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_INS. [NGOs] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. 75 73 72 66 65 64 60 58 55 52 51 49 47 42 Distrust Neutral Trust Change, Jan 2022 to May 2022 - 0 + Change, Jan 2022 to May 2022 +1 pt 59 Global 14 - 3 - 4 - 1 - 2 - 2 +1 0 +3 0 +4 +6 +1 +7 +1

33 Percent trust JANUARY TO MAY 2022: GREATEST TRUST GAINS FOR JOURNALISTS, MY FELLOW CITIZENS AND CEOS 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_PEP. Below is a list of groups of people. For each one, please indicate how much you trust that group of people to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. “My CEO” only shown to those who ar e an employee of an organization (Q43/1). 76 70 64 56 53 49 Scientists My CEO Citizens of my country CEOs Journalists Government leaders Distrust Neutral Trust Change, Jan 2022 to May 2022 - 0 + +2 +4 +7 +6 +7 +5 +/ - U.S. +10 Japan +9 S. Africa +12 Brazil +14 Germany +13 Mexico +13 India +5 Brazil +8 France +12 UK +9 Japan +12 Brazil +10 Greatest changes in...

34 Percent trust SCIENTISTS, MY CEO AMONG MOST TRUSTED ACROSS COUNTRIES 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_PEP. Below is a list of groups of people. For each one, please indicate how much you trust that group of people to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. “My CEO” only shown to those who ar e an employee of an organization (Q43/1). Global 14 Brazil Canada China France Germany India Japan Mexico Saudi Arabia S. Africa S. Korea UAE UK U.S. % +/ - Scientists 76 +2 80 - 1 74 - 1 88 - 2 71 +4 70 +1 91 +5 55 - 3 83 +3 82 +3 65 +2 71 +1 86 +1 75 +1 71 +10 My CEO 70 +4 73 +8 61 +3 82 - 3 60 +7 59 +5 86 +4 51 +9 77 +4 75 - 3 70 +7 53 +2 81 0 68 +8 67 +4 Citizens of my country 64 +7 55 +7 65 +7 80 - 4 52 +12 57 +7 84 +4 46 +5 66 +10 81 +4 50 +12 56 +5 79 +1 61 +11 57 +10 CEOs 56 +6 57 +14 43 +7 77 - 5 41 +6 44 +8 80 +4 40 +6 62 +5 70 - 1 51 +9 48 +3 74 +1 45 +9 45 +8 Heads of NGOs 54 - 52 - 47 - 72 - 50 - 43 - 75 - 34 - 60 - 64 - 51 - 46 - 70 - 45 - 42 - Leaders of multi - nationals 54 - 54 - 50 - 71 - 44 - 46 - 73 - 36 - 60 - 63 - 45 - 53 - 67 - 47 - 46 - Journalists 53 +7 54 +6 54 +4 78 +2 42 +10 54 +13 70 +6 35 +12 60 +10 62 +1 44 +5 31 +8 62 +2 42 +11 49 +7 Government leaders 49 +5 36 +10 47 +4 83 - 2 47 +4 44 +8 68 +6 34 +6 46 +13 72 - 1 20 +6 37 +2 71 - 3 43 +8 42 +10 Distrust Neutral Trust +/ - : change from Jan 2022 to May 2022

35 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_INS. Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. Percent trust UNITED NATIONS ONLY TRUSTED GLOBAL INSTITUTION 60 58 56 55 United Nations WTO NATO European Union - 1 n/a n/a +2 Change, Jan 2022 to May 2022 - 0 + Distrust Neutral Trust Change, Jan 2022 to May 2022

36 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_INS. Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. Percent trust TRUST IN GLOBAL INSTITUTIONS – DATA ACROSS COUNTRIES Global 14 Brazil Canada China France Germany India Japan Mexico Saudi Arabia S. Africa S. Korea UAE UK U.S. % +/ - United Nations 60 - 1 61 - 1 57 - 4 74 - 11 52 2 57 5 77 - 3 34 - 8 68 - 3 61 - 7 52 3 60 3 70 - 4 58 4 54 6 WTO 58 - 58 - 50 - 78 - 44 - 52 - 79 - 37 - 66 - 64 - 53 - 55 - 72 - 55 - 48 - NATO 56 - 55 - 59 - 62 - 53 - 56 - 68 - 38 - 58 - 58 - 40 - 52 - 61 - 63 - 56 - European Union 55 +2 56 - 3 53 8 64 - 7 52 6 57 13 69 - 3 39 1 60 - 1 60 - 3 43 4 57 6 67 - 2 50 11 47 10 Distrust Neutral Trust +/ - : change from Jan 2022 to May 2022

37 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. TRU_INS. [NATO] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right. 9 - point scale; top 4 box, trust. General population, 14 - mkt avg. Percent trust in NATO NATO NOT TRUSTED BY MOST MEMBER COUNTRIES 68 62 61 58 58 55 52 40 38 Distrust Neutral Trust 56 Global 14 63 59 56 56 53 Among NATO members Among NATO non - members

38 Percent who say each company response to the Ukraine conflict would result in a net increase or decrease in trust DATA IN DETAIL UKRAINE RESPONSE: THE STAKES FOR TRUST 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. UKE_TRST. Different companies have responded in different ways to Russia's invasion of Ukraine. What effect would each of the following behaviors have on your trust in a company that has responded in this way to the Russian invasion? 6 - point scale; bottom 3 box, decrease or eliminate trust; top 2 box, increase trust. General population, 13 - mkt avg. Data not collected in China. Dat a is showing the difference between those who say each would increase vs decrease or eliminate trust. Global 13 Brazil Canada China France Germany India Japan Mexico Saudi Arabia S. Africa S. Korea UAE UK U.S. The company permanently ceased operations in, and all cut business ties with Russia; but worked to protect the safety of their ex - employees who were left behind +31 +36 +38 - +27 +33 +15 +34 +29 +19 +35 +44 +17 +38 +39 The company permanently ceased operations in, and cut all business ties with Russia +28 +32 +43 - +26 +32 +6 +30 +19 +16 +28 +34 +16 +39 +39 The company temporarily suspended all of their business operations in Russia +27 +34 +40 - +25 +30 +8 +32 +22 +15 +24 +32 +13 +37 +34 The company temporarily suspended all of their business operations in Russia, but continued to pay their employees +26 +37 +30 - +19 +27 +23 +13 +36 +16 +32 +31 +25 +25 +27 The company donated time, money, and resources to support humanitarian efforts but took no further action +10 +20 +14 - +2 - 5 +15 - 4 +28 +12 +14 - 7 +13 +11 +16 The company ceased making any new investments in Russia, but maintained their current operations - 15 - 13 - 28 - - 20 - 34 +6 - 33 0 +5 - 14 - 20 +4 - 28 - 23 The company made a statement in support of Ukraine but took no further action - 20 - 16 - 27 - - 25 - 32 - 11 - 33 - 7 +1 - 25 - 25 - 11 - 26 - 21 The company carried on doing business in Russia as they had previously - 38 - 49 - 51 - - 47 - 49 - 5 - 59 - 25 - 5 - 41 - 50 - 11 - 50 - 45 GLOBAL 13 Not asked in China

39 Percent who say each is a business responsibility DATA IN DETAIL THE EXPANDING ROLE OF BUSINESS 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. CORP_ROLE. Do you consider each of the following to be a primary, secondary, or not a responsibility of business? 3 - point scale; code 1, primary; code 2, secondary. Sum of codes 1 and 2. General population, 14 - mkt avg. “Economic res ponsibilities” is an average of attributes 1 - 2, 4 - 6. “Societal responsibilities” is an average of attributes 3, 7, 9 - 11, and 13. “Geopolitical responsibilities” is an average of attributes 12 and 14. Global 14 Brazil Canada China France Germany India Japan Mexico Saudi Arabia S. Africa S. Korea UAE UK U.S. ECONOMIC RESPONSIBILITIES (average) 85 90 83 86 81 81 89 78 87 79 92 87 88 84 85 Create jobs 88 92 86 86 86 86 91 82 92 82 94 87 89 87 88 Provide safe and reliable products 87 94 86 87 86 84 92 82 89 81 93 88 89 85 88 Drive innovation 86 92 84 85 83 84 90 81 89 81 93 88 87 85 86 Grow the economy 85 90 83 85 83 82 89 79 88 78 93 88 89 82 83 Wealth creation 79 82 76 86 68 68 84 68 78 75 86 83 84 79 78 SOCIETAL RESPONSBILIITES (average) 77 82 73 80 74 72 86 70 80 76 84 77 82 73 74 Provide training to employees 88 94 85 86 88 86 91 82 91 83 94 89 89 86 86 Support local communities 83 87 81 84 80 76 86 76 84 79 93 82 88 79 83 Provide trustworthy information 78 86 75 78 76 65 87 73 81 77 84 79 82 78 78 Address climate change, pollution, poverty, and food/water insecurity 76 79 71 79 70 78 86 74 79 70 80 78 79 70 69 Address discrimination, wage inequality, healthcare, and education 74 74 64 79 68 69 85 69 75 73 78 80 80 67 65 Promote cooperation across political differences 65 70 60 72 60 57 80 44 72 71 74 54 74 60 63 GEOPOLITICAL RESPONSIBILITES (average) 59 60 56 62 57 47 75 46 59 66 62 56 69 57 58 Cultivate admiration for our country’s values 68 72 60 70 62 49 84 59 74 73 74 70 79 62 62 Punish countries that violate human rights and international law 50 47 52 53 51 45 66 32 44 58 49 42 59 51 53

40 Global 14 Brazil Canada China France Germany India Japan Mexico Saudi Arabia S. Africa S. Korea UAE UK U.S. The CEO 31 26 38 25 26 18 42 31 26 28 40 42 38 28 33 A corporate executive responsible for guiding the company on social issues such as the head of Diversity, Equity and Inclusion (DEI), the head of social impact or corporate social responsibility, the Chief Sustainability Officer, etc 22 25 21 25 15 16 31 8 28 23 25 24 26 15 21 The local or regional CEO or senior leader of the business in the country or region most affected by the actions the company is planning to take 19 23 20 21 16 15 27 10 18 21 22 19 20 14 17 A member of their Board of Directors 18 15 16 19 9 14 30 9 19 22 19 21 26 14 14 The Chief Communications Officer or head of communications 18 21 21 17 18 8 22 13 23 18 23 22 18 15 17 A respected journalist 17 23 18 15 14 16 23 15 21 21 20 9 22 10 15 An independent academic or scientific expert on that issue 17 17 17 15 12 16 24 21 22 16 16 14 16 16 14 One of their customers or clients 16 19 14 15 12 17 27 17 16 16 19 14 18 10 12 The Chief Marketing Officer or head of marketing 16 22 13 14 12 9 23 12 17 22 20 21 17 12 12 A community leader 15 14 14 12 11 13 24 9 12 21 23 11 20 8 14 One of their regular employees 15 16 14 9 17 15 26 15 11 20 17 9 19 12 16 The head of an NGO that specializes in that issue 14 17 13 14 13 9 25 9 19 16 19 11 15 11 9 A celebrity 12 13 9 17 6 5 20 11 11 19 14 9 16 5 6 An online opinion leader 12 15 6 13 8 7 22 7 13 21 16 10 18 8 6 An online content creator 11 15 8 12 7 3 27 4 14 15 15 8 17 6 8 A leader in my religious faith 7 7 5 10 5 4 15 1 4 17 7 5 11 5 7 None of the above 11 7 15 8 18 23 2 24 5 5 4 7 3 20 17 Percent who say a company should use the following spokesperson to communicate its response to a contentious social or geopolitical issue DATA IN DETAIL COMPANY SPOKESPERSON 2022 Edelman Trust Barometer Special Report: The Geopolitical Business. DRV_FOR. If a company wants to communicate credibly and effectively to you about its stand on a contentious social or geopolitical issue, and what actions it is planning to take to address that issue, who should they use to deliver t hei r message? Pick all that apply. Question asked of half of the sample. General population, 14 - mkt avg.

APPENDIX

42 2022 EDELMAN TRUST BAROMETER: FULL TEXT FOR ANSWER CHOICES ABBREVIATED RESPONSE TO UKRAINE CONFLICT Shortened Full Ceases business in Russia; protects safety of ex - employees The company permanently ceased operations in, and all cut business ties with Russia; but worked to protect the safety of their ex - employees who were left behind Temporarily suspends business in Russia The company temporarily suspended all of their business operations in Russia Supports humanitarian efforts with no further action The company donated time, money, and resources to support humanitarian efforts but took no further action Carries on doing business in Russia The company carried on doing business in Russia as they had previously Makes no statement in support of Ukraine with no further action The company made a statement in support of Ukraine but took no further action No new investments in Russia, but maintains current operations The company ceased making any new investments in Russia, but maintained their current operations UKE_TRST. Different companies have responded in different ways to Russia’s invasion of Ukraine. What effect would each of the following behaviors have on your trust in a company that has responded in this way to the Russian invasion? (Please select one response for each.)

43 2022 EDELMAN TRUST BAROMETER: FULL TEXT FOR ANSWER CHOICES ABBREVIATED BUSINESS’ ROLE - SOCIETAL Shortened Full Provide training to employees Providing training and reskilling to employees Support local communities Supporting local communities Provide trustworthy information Making sure people have access to trustworthy information Address climate change, pollution, poverty, and food/water insecurity Working to solve major global problems such as climate change, pollution, poverty, and food/water insecurity Address discrimination, wage inequality, healthcare, and education Working to solve our country’s major social problems such as prejudice/discrimination, wage inequality, and increasing access to good quality healthcare and education Promote cooperation across political differences Promoting unity, civility, and a spirit of cooperation among people with differing political opinions and fostering a renewed willingness to engage in constructive debates on contentious issues CORP_ROLE. Do you consider each of the following to be a primary, secondary, or not a responsibility of business? (Please select one response for each.)

44 2022 EDELMAN TRUST BAROMETER: FULL TEXT FOR ANSWER CHOICES ABBREVIATED BUSINESS’ ROLE - ECONOMIC Shortened Full Create jobs Employing people/supplying jobs Provide safe and reliable products Providing safe and reliable products and services that people want or need Drive innovation Driving innovation (inventing new products and technologies) Grow the economy Being an engine of economic growth and improving our country’s standard of living and economic competitiveness Wealth creation Creating wealth for its owners/shareholders CORP_ROLE: Do you consider each of the following to be a primary, secondary, or not a responsibility of business? (Please select one response for each.)

45 2022 EDELMAN TRUST BAROMETER: FULL TEXT FOR ANSWER CHOICES ABBREVIATED BUSINESS’ ROLE - GEOPOLITICAL Shortened Full Cultivate admiration for our country’s values Cultivating an admiration for our country’s values, and way of life, in other countries Punish countries that violate human rights and international law Punishing countries that are guilty of human rights violations or of breaking international law CORP_ROLE: Do you consider each of the following to be a primary, secondary, or not a responsibility of business? (Please select one response for each.)

46 2022 EDELMAN TRUST BAROMETER: FULL TEXT FOR ANSWER CHOICES ABBREVIATED BUSINESS RESPONSE TEAM Shortened Full Publicly Speak out against this behavior They should publicly speak out against this behavior Apply political or economic pressure They should apply political or economic pressure on the government to make changes Combat misinformation and provide trustworthy information They should combat any misinformation or propaganda campaigns about this by becoming a trustworthy and objective information source regarding what is really happening and its consequences Cease new business investments They should cease any new business investments or ventures until things change for the better Terminate business activities They should terminate all of their business activities in or with the country/state/region until things change for the better Business should carry on as usual They should carry on with business as usual and leave the situation for others to handle BUS_RESP. For each of the following scenarios, please indicate how you feel corporations that have business interests in the countries or markets involved should respond. (Please select all that apply for each scenario.)

47 2022 EDELMAN TRUST BAROMETER: FULL TEXT FOR ANSWER CHOICES ABBREVIATED BUSINESS INFLUENCE Shortened Full Climate Change Climate Change Democratic and human rights reforms in other countries Getting other countries to adopt democratic and human rights reforms Get Russia to withdraw its forces from Ukraine Getting Russia to withdraw its forces from Ukraine BUS_BEST: Which of the following most accurately characterizes, in your mind, the best - case scenario for the impact business could have in solving each of the following problems or challenges if it devoted a significant amount of its resources and attention to addressing it? (Please select one response for each item.)

48 2022 EDELMAN TRUST BAROMETER: FULL TEXT FOR ANSWER CHOICES ABBREVIATED BUSINESS MORAL EXPECTATION Shortened Full Businesses have a moral responsibility to set limits on what is acceptable and pull out of countries that operate beyond them Even though almost all countries are guilty of some sort of immoral, unfair, discriminatory, or militaristically aggressive behavior, businesses still have a moral responsibility to set limits on what is acceptable behavior and pull out of countries that operate beyond those limits Because all countries engage in immoral behavior, such behavior is not a viable criterion for whether it is acceptable to do business in a particular country Because almost all countries are guilty of some sort of immoral, unfair, discriminatory, or militaristically aggressive behavior, such behavior is not a feasible criterion for whether it is morally acceptable for a company to have business operations in a particular country Businesses that fail to condemn and punish a country’s behavior express implicit approval of that behavior Businesses that fail to condemn and punish a country’s behavior are expressing an implicit approval of that behavior Businesses that condemn a country’s behavior are guilty of imposing their own sense of morality on a culture they may not understand Businesses that condemn and punish a country’s behavior are guilty of imposing their own sense of morality on a country or culture that they may not fully understand nor appreciate CORP_SIDE: You are about to see a series of two choices. We want you to choose the one that best describes your beliefs. (Please select only one of the two options given.)

49 2022 EDELMAN TRUST BAROMETER: FULL TEXT FOR ANSWER CHOICES ABBREVIATED EXPECTATIONS FOR CEOS Shortened Full Automation’s impact on jobs Technology and automation’s impact on jobs Wage inequality Wage inequality Global warming and climate change Global warming and climate change If companies should continue doing business in Russia despite its invasion of Ukraine Whether companies should continue doing business in, and on behalf of, Russia despite its invasion of Ukraine Whether countries guilty of human rights violations should be punished Whether countries that are guilty of human rights violations or breaking international laws should be punished or have trade sanctions imposed on them CEO_RSP . For each of the following topics, please indicate to what degree corporate CEOs should be held responsible for directly helping to inform and shape ongoing conversations and policy debates. (Please select one response for each.)

50 2022 EDELMAN TRUST BAROMETER: FULL TEXT FOR ANSWER CHOICES ABBREVIATED EXPECTATIONS FOR CEOS Shortened Full The CEO The CEO A corporate executive responsible for guiding the company on social issues A corporate executive responsible for guiding the company on social issues such as the head of Diversity, Equity and Inclusion (DEI), the head of social impact or corporate social responsibility, the Chief Sustainability Officer, etc. The local CEO in the country or region The local or regional CEO or senior leader of the business in the country or region most affected by the actions the company is planning to take A member of the Board of Directors A member of their Board of Directors The Chief Communications Officer or head of communications The Chief Communications Officer or head of communications DRV_FOR . If a company wants to communicate credibly and effectively to you about its stand on a contentious social or geopolitical issue, and what actions it is planning to take to address that issue, who should they use to deliver their message? (Please select all that apply.)

51 1. A Nearly Empty B aby F ormula Display S helf is Seen at Target: Paul Hennessy/SOPA Images/ LightRocket via Getty Images 2. Ukraine - Russia - Conflict: Ronaldo Schemidt /AFP via Getty Images 3. Average Cost of Gas hits Breaks AAA Record Posted in 2000: Scott Olson/Getty Images 4. Topshot - China - Virus - Health: Hector Retamal/AFP via Getty Images 5. US - Politics - Economy - Business: Nicholas Kamm /AFP via Getty Images 6. Protests from “La France Insoumise (LFI)” and the “Union Populaire”: Denis Thaust /SOPA Images/ LightRocket via Getty Images 7. Bitcoin Financial Decline with Golden Coin – Stock Photo: matejmo via Getty Images 8. White House Flags Flown at Half Staff To Mark 1 Millionth Death From COVID - 19 in U.S.: Drew Angerer /Getty Images COVID - 19 Pandemic Image Customer checking out at the register at Crêpe Corner: Tyson Moultrie via Unsplash Racial Justice Image Black Lives Matter protest: Colin Lloyd via Unsplash Employee Activism Image Person video conferencing from home: Surface via Unsplash ESG Image Low angle photo of city high rise : Sean Pollock via Unsplash Climate Change Image Windmills via Unsplash SLIDE 2 IMAGE CREDITS COVER IMAGE CREDITS 1 2 3 4 5 6 7 8 On The Cover