More people trust big business above government - global survey

Ray White talks to Sharmla Chetty (CEO, Duke Corporate Education) about the 2022 Edelman Trust Barometer.

As world leaders gather in Davos for the 2022 World Economic Forum, the role and responsibilities of big business have come under the spotlight.

Societal leadership is now a core function of business, according to a global study.

The 2022 Edelman Trust Barometer finds that trust in business remains higher than trust in government, the media, and non-governmental organisations.

The study surveyed over 36,000 people in 28 countries.

Nearly 1 out of 2 respondents view government and media as divisive forces in society

"We find a world ensnared in a vicious cycle of distrust, fueled by a growing lack of faith in media and government."

Ray White (in for Bruce Whitfield) discusses the findings with Sharmla Chetty, CEO of Duke Corporate Education (Duke CE).

Chetty ascribes this distrust to the impact of difficult times on people's lives - the fallout of the Covid-19 pandemic, escalating political tensions and extreme climate events among them.

(Chetty describes herself as a visionary driven by one purpose – transforming organisations and society through leadership.)

The world has struggled to regain its balance... People are worried... We've seen a lot of inequities that are happening... Now society finds itself locked in this vicious cycle of distrust.

Sharmla Chetty, CEO - Duke Corporate Education

There has been a lot of talk in South Africa about the need for more private-public partnerships.

It sounds like privatisation is also a way to enforce leadership and the backbone of a country, comments White.

"Without a doubt", affirms Chetty.

All stakeholders must engage in finding solutions to societal issues... We need business to lead, and we also need government... We also need more ethical leadership that can take us in a different direction...

Sharmla Chetty, CEO - Duke Corporate Education

... So we want CEOs around the world to speak out publicly in terms of societal issues, as well as political issues right now.

Sharmla Chetty, CEO - Duke Corporate Education

Chetty says businesses also need to double down on ESG (Environmental, Social, and Governance) investment.

"The important thing is that we need to address the inequality issues that are becoming bigger and bigger."

We need to be moving to action... and across institutions... They need to find common ground to foster innovation.

Sharmla Chetty, CEO - Duke Corporate Education

Listen to the conversation on The Money Show:

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