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‘Thick” trust is present when a company achieves social trust that goes beyond the transactional and includes acting in broader societal interest. Results from GlobeScan’s 2016 Radar research confirm that ‘thick’ trust in banks and financial services companies remains low, despite eight years having passed since the financial crisis of 2008. In our new eBrief, we explore the low levels of trust in the finance industry across different regions, the reasoning behind the low scores, and ways the finance industry...

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This article was originally published on LinkedIn. In his book Swimming with Sharks, Joris Luyendijk describes the banking sector as ‘a plane without a pilot’ and with no moral compass. His conclusion however is that the problems which created the financial crisis are not personal, but systemic and if we want a stronger system, we must change the incentives rather than wish for nicer guys. With billions now becoming available for sustainable investments, bankers’ incentives are getting aligned with a greener, more sustainable...
This is the final blog post of a series of three focusing on the financial services sector seven years on from the financial crisis. After quantifying the loss of public trust in banks and financial institutions and exploring how the industry has lost touch with its societal role in different parts of the world, we are now completing this series by looking for lessons from other sectors on how the financial services industry can  improve its CSR performance and build pathways...
In our first blog post in this series, we looked at concerns about trust and confidence in banks and financial institutions showing no signs of diminishing more than seven years on from the financial crisis. In this blog we’ll explore how the industry has lost touch with its societal role in different parts of the world. For nearly 15 years, GlobeScan has been tracking global public opinion of how well the financial services sector fulfils its responsibilities to society. The following...
In a new article in The Cornerstone Journal of Sustainable Finance & Banking, I note that trust is “strategically important” to organizations—and once lost, extremely difficult to recapture. Trust in financial institutions, while deeply negative in many regions, is still quite high in Africa— suggesting a compelling opportunity for the banking sector to play a meaningful role in continued development on that continent. While an Executive Summary of the Journal is available to read free of charge, you will need to subscribe...
Tagged in: Economics Finance Trust
More than seven years on from the financial crisis, concerns about trust and confidence in banks and financial institutions show no sign of diminishing. With the latest series of scandals, allegations and billion-dollar fines, questions are being asked about whether the industry has learnt any lessons. As regulators call on banks to ‘raise their game’ to regain the public’s trust, we ask what can be learnt from our public opinion and stakeholder research about the roots of distrust, the opportunities for...
With the airwaves often dominated by discussion of economic indicators and GDP, a casual observer could be forgiven for thinking that this was the only valid measure of a country’s development. However, nearly seven in ten citizens across eleven countries think that a broader measure—one incorporating health, environmental, and social statistics—should be used instead of GDP to measure national progress. Drawn from our most recent work with Ethical Markets, the ICAEW, and business think-tank Tomorrow’s Company, these figures from 11 developed...
Two years after the collapse of Lehman Brothers in 2008, the chiefs of the world’s most powerful regulatory bodies met in Basel, Switzerland to agree new standards for banking institutions. These included requirements for banks to hold much greater capital reserves to protect against future ‘credit crunches‘ – and while banks were this week given four extra years to raise these reserves, critics say the effect of these measures will be to reduce their ability to lend. However, GlobeScan’s most recent...
With European ministers meeting this week to hammer out a deal on reduction of Greece’s debt, and persistent rumours of bailouts for some others in the Mediterranean region, Europe’s economic crisis continues to feature prominently in the news agenda. As GlobeScan’s most recent opinion polling shows, this clearly reflects the worries of its citizens. Spanish citizens best encapsulate the crisis narrative, with unemployment, the economy and political problems cited most often as the most pressing problems facing the country. Here, with...
Since the nadir of the global financial crisis in 2008–2009, there has been at least some degree of recovery across most of the global economy. Yet the financial situation in Spain remains precarious, and Spain’s problems, along with those of Greece, Italy, and Portugal, risk dragging Europe and the world back into recession. Meanwhile the Spanish public, left reeling by an economic crisis blamed in large part on corporate bad behaviour, expect ever higher standards of corporate responsibility from their banks....

The GlobeScan Espresso Blog offers weekly insight from GlobeScan team members, based on our expertise in stakeholder intelligence and engagement, as well as client experience, and supported by our unique global trends archive.

The Featured Finding offers a weekly insight from GlobeScan's unique global survey data archive. Every Friday, we share and interpret a topical finding from one of GlobeScan's most recent studies conducted among global publics or key opinion formers, focusing on business in society, the environment, the economy, industry reputation and global trends. You can also view all the Featured Findings published since 2010 by topic and geography
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