According to Edelman’s 2021 annual Trust Barometer, 2020 can be summed up in three stark words: “Declaring Information Bankruptcy.” Throughout the course of the year, global crises from the pandemic to systemic racism to political instability wreaked havoc on peoples’ trust in government, media and authoritative information sources. At the same time, the credibility of the private sector grew — it emerged as the “only institution seen as both competent and ethical”, a big shift from last year when respondents expressed a deep mistrust in capitalism. What hasn’t changed is that people expect more from both government and business leaders when it comes to tackling social issues like inequality, climate change and global health.
Insight and analytics consultancy Edelman has come out with the 21st edition of its annual Trust Barometer which captures the public’s trust in and perceptions of credibility of institutions and concepts like business, government, democracy, capitalism and more. The survey polled over 33,000 adults in 28 different countries between October and November 2020, with some follow-up surveys conducted in the U.S. after the presidential elections.
The report sums up 2020 in three words: “Declaring Information Bankruptcy.” What does this stark phrase mean in practice? We’ve pulled out some of the biggest themes and takeaways of Edelman’s research below.
“Pandemic puts trust to the test”
- In spring 2020, after the worst effects of the global pandemic were starting to become apparent, governments suffered a major loss in public trust: in May 2020, government was the most trusted institution out of the media, NGOs and business, but by October and November it became one of the least trusted.