Reputation

Concluding from the latest Ipsos ESG Council report, it's increasingly clear ESG's role as an agent for positive change.

Business leaders are not trusted to tell the truth – yet are seen to have a responsibility to speak out on issues according to the new Ipsos Global Trustworthiness Monitor report.

Research by Ipsos commissioned by the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) shows an improvement in research-based pharmaceutical industry reputation, with people valuing pharma innovation and the benefits it brings to society.

Some would think it an understatement to say that the latest Ipsos' Reputation Council sitting takes place against an uncertain global backdrop. We seem to be in a perfect storm of social, political, and economic upheaval – the war in Ukraine, supply chain bottlenecks feeding inflation, and the lingering impact of Covid-19 are but a few of the factors impacting the world.

The pharmaceutical sector is at an inflection point. The industry’s successes in tackling COVID-19 have helped to improve perceptions of it. But can the sector maintain this upward trajectory and continue to leverage its reputation and in a post-pandemic world?

With the British public increasingly anxious about the economy, we asked Business Journalists which sectors they felt were leading the way in supporting customers through the cost-of-living crisis and what the banking sector could do to support customers during this time.

Given the vital role that technology has played during the pandemic in supporting economic activity and keeping people connected, we might expect an increase in the trustworthiness of technology companies. In fact, the opposite is the case, with trustworthiness declining globally over the period.

In our Global Trustworthiness Monitor, almost three in ten (28%) of the public think that the banking sector is trustworthy vs two in ten in 2018 (20%), this places the sector as the third most trustworthy industry globally.

Since the global pandemic, the public have had more exposure to the power of pharma companies to improve and save lives. The sector has also been exposed to an unprecedented level of mainstream media coverage. So the big question is; has this has led to a heightened degree of trust?