Oxford-

GlobeScan
Corporate
Affairs Survey

Highlights of the Annual

Survey
Webinar, 19 April 2023

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Flow of our discussion

1. Key findings from our 2023 survey and interactive panel discussion
1. The big picture: risks and opportunities for global business
2. Meeting the moment: trust, purpose, advocacy
3. Building capacity: evolution of the Corporate Affairs function

2. Q&A and open discussion

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 Your Hosts Today

Rupert Younger Stewart Prosser Chris Coulter

Director, Oxford University Associate Fellow, Saïd Business CEO, GlobeScan
Centre for Corporate School, University of Oxford
Reputation

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 Our Panellists today

Petra Laux Elaine McCrimmon Taki Netshitenzhe

Global Head Business Global Corporate Affairs leader, Director, External Affairs
Sustainability, Crop Protection Former Global Head of Vodacom South Africa
Syngenta Reputation and External
Former Head of Public Affairs Engagement, AB InBev
at Novartis

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 About the
Survey

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 Voices of Senior Corporate Affairs Practitioners
We surveyed 109 corporate affairs professional from across the world. There is a good representation of
seniority, tenure, and geographic regions and sectors.

Broad spectrum of Corporate Affairs,

Participants from 32 countries 85% of the sample have been
Corporate Communications, and related 70% report to the Board, CEO-level, or
(23 countries in 2022) operational in Corporate Affairs for
practitioners participated in the a Group Executive level more than ten years
research (71% in 2022) (71% in 2022)

Cross-section of functions International perspectives Senior-level feedback

Experienced and tenured opinion
and sectors

Fieldwork period: Feb. 16th – Mar. 28th 2023

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 1. The Big
Picture: Risks &
Opportunities

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 Short-term Risks to Global Business
Corporate Affairs professionals see geopolitical risk and uncertainty, the impact of macro-economy
issues, and climate change as the biggest short-term risks to global businesses

Short-term Risks to Global Businesses, Open-ended, Total Mentions, 2023

Geopolitical risk and uncertainty 50%
Climate change 47%
Impact of macro-economy on business 44% Geopolitical risk and uncertainty remains
Supply chain issues 20% the largest perceived short-term risk to
Community relations/engagement 15% global businesses.
Regulatory pressure and changes 14%
Talent attraction/retention 12% Risks impacting the macro-economy is
Rise of populism / social divide 12% rising
Data privacy / cyber risk 11%
Impact of automation and technology on workforce/jobs 7%
Pandemics are no longer seen as a
Operational transparency
pressing short-term risk to global
6%
businesses.
Just energy transition 6%
Reputation risk 5%
Activism 4%
Environmental, social and governance (ESG) performance 4%
Shareholder pressure 2%
Shifting stakeholder demands 2%
Arrows represent a significant (10 point) difference
Pandemics e.g. COVID-19 1% compared to 2022

Water stewardship 1% indicates new risks added in 2023

Nothing / No answer / Prefer not to say 5%

8 Q40. What are the top three areas that are the biggest risks for global businesses over the next two years? Please list below in order X
of biggest risk, where 1 is the biggest, 2 is the second, and 3 is the third biggest risk. (n=109)
 Verbatims for Short-term Risks to Global Business

“The belief that business participation in

multilateral international organizations is “Polycrisis as coined by the WEF/multiple crises:
inherently wrong and corrupting.” Opportunity for corporate affairs teams to build
Respondent from the USA resilience within the business through anticipatory
issues and crisis management.”
Respondent from Singapore

“‫( استغالل الموارد الطبيعية بدون خلق بديل لها‬Exploiting

natural resources without creating an
alternative for them.)”
Respondent from Sudan

9 Q40. What are the top three areas that are the biggest risks for global businesses over the next two years? Please list below in order X
of biggest risk, where 1 is the biggest, 2 is the second, and 3 is the third biggest risk. (n=109)
 Short-term Opportunities for Global Business
Corporate Affairs professionals believe innovation and AI, climate change adaptation, and just energy
transition offer the biggest opportunities to global businesses
Short-term Opportunities for Global Businesses, Open-ended, Total Mentions, 2023

Innovation, digitalisation and AI 51%

Adaption to climate related issues 41%
Just energy transition 22%
Collaboration 9%
Population growth 9%
A return to normalcy 6%
Diverse workforce 6%
Improving supply chains 5%
Localising work 5%
Transparency 4%
Rise of leaders 3%
Working from home / hybrid working 3%
Social media 2%
Community Development 2%
Better legislation 1%
Nothing / No answer / Prefer not to say 11%

Q41. What are the top three areas you see that offer the biggest opportunity for global businesses over the next two years? Please list below
10 in order of biggest opportunity, where 1 is the biggest, 2 is the second, and 3 is the third biggest opportunity. (n=109) X
 Verbatims for Short-term Opportunities for Global Business

“Shifting consumer behaviour

“Re-election of moderate technocratic especially in sub urban areas.”
governments in key G7 economies.” Respondent from India
Respondent from the UK

“Sustainability opportunities across the

environment, human rights pillar. Opportunity for
companies to do good in the world, and the
communities they operate in.”
Respondent from Singapore

Q41. What are the top three areas you see that offer the biggest opportunity for global businesses over the next two years? Please list below
11 in order of biggest opportunity, where 1 is the biggest, 2 is the second, and 3 is the third biggest opportunity. (n=109) X
 Top ESG Issues for Your Organisation
Climate change tops list of ESG issues for businesses, followed by net-zero carbon emissions and
creating more inclusion and diversity within businesses - Confirming trend tracked since 2021
Top ESG Issues, Open-ended, Total Mentions (Selected up to Three), 2023

Climate change 38%

Net zero / carbon emissions 22%
Inclusivity/diversity 18%
Governance 18% Inclusivity and diversity is a new
Sustainability: Products / supply-chain / sourcing 17% mention. Inequality in society has been
Supply chain issues/impacts/challenges 16% on pre-coded list, but respondents were
very specific in 2023.
Inequality in society 11%
Transparency in terms of reporting 10%
Human rights 10%
Energy 10% Plastics and single-use materials has
consistently lost relevance as a top ESG
Work rights 8%
issue year on year since 2021.
Health and safety 7%
Adequate reporting 6% Environmental topics
Water issues (scarcity, stewardship, etc.) 6%
Social topics
Community 6%
Governance topics
Plastics / single-use materials 6%

12 Q1.3 There is ongoing discussion on ESG (environment, social, and governance) issues for business. What are the top ESG issues for X
your organisation? Please list up to three ESG issues. (n=109)
 2. Meeting the
Moment: Trust,
purpose, advocacy

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 Drivers of Trust in Business

Drivers of trust can be divided into two aspects: character & capabilities, Total Mentions, 2023

1. Building effective stakeholder

relationships 33% difference
2. Integrity/honesty
3. Committed and influential
CEO/leadership
4. Well-articulated / visionary
corporate purpose
1. Providing quality products/
5. Transparency in operations
services
6. Environmental stewardship across
2. Clear business model/strategy
operations
3. Compliance to regulatory
7. Community engagement initiatives
environment
8. Fair and progressive employee
4. Financial strength / profitability
treatment
5. Job creation and economic
9. Accountability/comms on progress
contribution
and failures
6. Products innovation
10. Human rights in the supply chain
7. Dominant market position
11. Philanthropy / support to charities

CHARACTER CAPABILITIES
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Q6. What do you think drives trust in your company today? Please select up to five. (n=109)
 Drivers of Trust in Business
Perceived subtle shift to competence factors (business-related drivers) while culture, values, and
relationships, which were more prominent in 2020–2021, slip down the order
Drivers of Trust in Company, Top Five Total Mentions, 2023 Compared to 2020 and 2021

2020 2021 2023

1. Integrity and 1. Integrity and 1. Providing quality

honesty honesty products/services
2. Providing quality 2. Building effective 2. Integrity and
products/services stakeholder honesty
relationships
3. Building effective 3. Building effective
stakeholder 3. Committed and stakeholder
relationships influential relationships
CEO/leadership
4. Committed and 4. Clear business * 2020 - #8
influential 4. Providing quality model/strategy* 2021 - #9
CEO/leadership products/services
5. Committed and
5. Having a well- 5. Having a well- influential
articulated and articulated and CEO/leadership
visionary visionary
corporate purpose corporate purpose

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Q6. What do you think drives trust in your company today? Please select up to five. (2020 n=202; 2021 n=228; 2023 n=109)
 State of Corporate Purpose
Over nine in ten Corporate Affairs professionals claim to have an established corporate purpose at
their company, and a further 3 percent are in the process of defining one

100%
4 4 4 6
11 3
13 13
80%

No - do not have one and are not in

60%
process of defining one

We are in process of defining one

91
40% 85 83 83
Yes - we have one in place

20%

0%
2020 2021 2022 2023

16 Q7.1 Does your company have a stated corporate purpose in place or are you in the process of defining one? Or do you not X
have one at present? (n=108)
 Attitudes on Corporate Purpose
There has been a strong increase since 2021 in the belief that there is both strong stewardship from
leadership and understanding from employees on delivering on corporate purpose
Attitudes around Corporate Purpose, “Strongly Agree” (6+7 on a 7-point Scale), 2020–2023

85

75
72 My organisation's corporate purpose is clearly articulated

65
59 There is strong stewardship from leadership on the company’s
corporate purpose
55 58
My organisation’s corporate purpose plays an important role in its
major business decisions
45 46
My organisation's corporate purpose is effectively communicated
across all corporate communication channels
35
Employees understand how they help to deliver on the company’s
purpose
25
2020 2021 2023

Q7.2 To what extent do you agree or disagree with each of the following statements related to your company’s corporate purpose? Please
17 move the slider to the point on the scale corresponding with your opinion. Subsample: Asked only to those who have a corporate purpose or X
are in the process of defining one. (2020 n=202; 2021 n=228; 2023 n=101)
 Risk of Political Populism to Business
Increasingly, political populism and polarisation is seen to be a risk for business

Extent of Risk of Political Populism to Your Company, “High Risk” (6+7 on a 7-point Scale), 2020‒2023

70

60

50
42
40
33

30
23
20
20 Your company

10
2020 2021 2022 2023

Q2.1 There has been increasing attention paid to political populism across the world, and to a growing trend toward polarisation within
18 society. To what extent do you consider this evolution to be a risk for… ? (2020: n=195; 2021: n=228; 2022: n=221; 2023: n=109) X
 Appetite for Corporate Advocacy
Trend remained stable with less than three in ten companies having a strong appetite for advocacy

Appetite for Corporate Advocacy, 10-point Scale, 2021‒2023

Strong appetite for advocacy (8+9+10) Neutral (4+5+6+7) Low appetite for advocacy (1+2+3) DK/NA

2023 29% 51% 16% 4%

2022 32% 51% 16% 1%

2021 20% 53% 25% 2%

Q2.3_1 How would you describe your organisation’s appetite for corporate advocacy (sometimes referred to as corporate activism) and
19 their level of active involvement? – Appetite for corporate advocacy (2021: n=228; 2022: n=221; 2023: n=108) X
 Planned Advocacy: Key Themes in 2023
Climate change and inequality are the main corporate advocacy topics planned for the coming year
while there is overall a greater balance between environmental and social themes

Planned Advocacy Topics, Open-ended, Total Mentions, 2023

Includes in order of mentions: Climate
change/decarbonization / net zero (22%); Energy transition/
Environmental topics 37% security / renewable energy (12%); Plastics waste / single
use (6%); Sustainable management of natural resources /
responsible forest management (5%); etc.
Includes in order of mentions: Diversity, equity, and inclusion
Social topics 31% (9%); Health/well-being/healthcare (6%); Inequalities / social and
economic inclusion (5%); Employee rights (5%); etc.

Includes in order of mentions: Regulation (8%); Reporting/transparency/valuation /

Governance topics 19% EU taxonomy (4%); ESG (unspecified) (6%); Technological transition / digital agenda
(3%); etc.

Includes in order of mentions: Innovation

Organisations have not shifted the
Economic topics 6% topics they are planning to
(unspecified) (3%); Supply chain (2%); Security (2%)
advocate for since the previous
year.

20 Q2.4. What topics, if any, is your organisation planning to advocate around in the coming year? (n=99) X
 Concern about Greenwashing Allegations
Growing concerns amongst Corporate Affairs professionals about being accused of greenwashing
with two-thirds in 2023 concerned opposed to half in 2022

Concern of Being Accused of Greenwashing, 2022–2023

Very concerned Somewhat concerned Not very concerned Not at all concerned

2023
66%
29% 37% 24% 9%

are concerned about being

accused of greenwashing
(compared to 53% in 2022).

2022 21% 32% 33% 14%

Q23. How concerned are you about your organisation being accused of greenwashing (that is, over-communicating or exaggerating
21 about social and environmental commitments or performance)? (2022: n=221; 2023: n=107) X
 Actions Arising from Greenwashing Concerns
Over half of greenwashing accusations have resulted in an increased focus on social and
environmental performance

Actions Resulting from Greenwashing Concerns, Those Who Are Concerned about Greenwashing, Total Mentions, 2023

Increased focus on social and environmental

performance 68%

Looking to third party partners to communicate

about your organisation's social and environmental 36%
performance

Communicating less about social and

environmental issues 21%

22 Q23.1 Has concern about your organisation being accused of greenwashing resulted in any of the following? (n=97) X
 3. Building
Capacity:
Evolution of the
Corporate
Affairs Function

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 Evolution of Roles in the Corporate Affairs Function
Scope of Corporate Affairs function continues to grow, with many activities increasing in importance
Extent to Which Roles in Corporate Affairs Has Become More Prominent (6+7 on a 7-point Scale)

Capturing social context the business operates in 70%

Addressing climate change risk 63%
Managing risks to organisation's reputation 60%
Mapping/prioritising stakeholders (incl. issues) 59%
Engaging with stakeholders 56%
Helping to define company's corporate purpose 54%
Developing thought leadership activities 52%
Assessing stakeholders' opinions/expectations 51%
Increasing internal communication efforts 50%
Supporting senior leadership 48%
Crisis management 45%
Focus on corporate advocacy 45%
Aligning local initiatives with global strategy/positioning 42%
Managing social media 42%
Leading corporate reporting 37%
Managing public/media relations 31%
Responding to activist shareholders 30%
Attending to legal matters 19%
Q11. In thinking of each of the following activities that may be part of your professional responsibilities, would you say that they have
24 become a more or less prominent part of your role compared with three years ago? (n=103–105) X
 Evolution of Roles in the Corporate Affairs Function
Scope of Corporate Affairs function continues to grow, with many activities increasing in importance
Extent to Which Roles in Corporate Affairs Has Become More Prominent (6+7 on a 7-point Scale)

Capturing social context the business operates in 70%

Addressing climate change risk 63%
Managing risks to organisation's reputation 60%
Mapping/prioritising stakeholders (incl. issues) 59%
Engaging with stakeholders 56%
Helping to define company's corporate purpose 54%
Developing thought leadership activities 52%
Assessing stakeholders' opinions/expectations 51%
Increasing internal communication efforts 50%
Supporting senior leadership 48%
Crisis management 45%
Focus on corporate advocacy 45%
Aligning local initiatives with global strategy/positioning 42% Arrows represent a
Managing social media 42% significant (10 point)
Leading corporate reporting
difference compared
37%
to 2022
Managing public/media relations 31%
Responding to activist shareholders 30%
Attending to legal matters 19%
Q11. In thinking of each of the following activities that may be part of your professional responsibilities, would you say that they have
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 Impact of Corporate Affairs Function on Creating and Protecting Business Value
Over nine in ten practitioners agree that the Corporate Affairs function has an important impact on
business value creation; a significant increase from 2021

Impact of Corporate Affairs Function on Business Value, 7-point Scale, 2020–2023

Some – Significant impact (5+6+7) Neither here nor there (4) Low – No impact (1+2+3) DK/NA

2023 91% 3% 4% 2%

2021 73% 13% 9% 5%

2020 81% 14% 5%

Q12.2 And thinking about your organisation, how would you rate the impact that Corporate Affairs has on creating and protecting business
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 Reasons Why Corporate Affairs Has a Significant Impact on Creating Business Value
The biggest impact of Corporate Affairs is on protecting and promoting reputation, followed by
connecting organisations to their stakeholders, while less so in the area of influencing public policy

Plays a central role in protecting and promoting reputation 24%

Keeping the organisation connected to stakeholders 20%

Building communication strategies across key strategic initiatives 19%

Understanding the needs and expectations of stakeholders 13%

Building internal alignment behind strategic goals 12%

Effective forecasting – identifying new sources of value creation 10%

The role of Corporate Affairs in
protecting and promoting
Driving effective internal/employee communication effort 8%
reputation is still the top
Influencing public policy development impacting the business 7%
business value creator
compared to previous years.
Influencing business decision across the whole value chain 5%

Effective lobbying 1%

Q10.4 Base: Those rating impact of CA on business as significant. What do you believe Corporate Affairs is getting right in creating and
27 protecting business value? (n=102) X
 Verbatims on Why Corporate Affairs Has a Significant Impact on Creating Business Value

“Increasingly less about "protecting" value - although

“Corporate Affairs is good at mitigating this remains important, and more about "creating"
expectations of shareholders in difficult times value. In particular, helping to look beyond
(I.e. pollution, company financial performance, immediate horizon to identify opportunity / material
war, energy crisis). It is also essential when risks faced by business, anticipate key challenges
developing a compelling narrative for our business is likely to face (which often come with $
employee engagement during these same cost).”
difficult times.” Respondent from the United Kingdom
Respondent from the UAE

“The CA function combines at least three main roles:

1) reputation protector; 2) strategist and storyteller;
3) growth driver. They are agents of change, they
embrace complexity, they work with data to support
their recommendations, they create movements and
create momentum.”
Respondent from Brazil

Q10.4 Base: Those rating impact of CA on business as high. What do you believe Corporate Affairs is getting right in creating and
28 protecting business value? (n=102) X
 Summary Findings

Global Issues and Risks

Geopolitical risk and uncertainty continues to take centre stage as the greatest risk to global business in the near future,
followed by climate change. In conjunction with this, the mounting weight of struggling economies affecting businesses has
also been a rising concern.

Opportunities for Business

Innovation and AI/digitisation and responding to the climate crisis are seen as great opportunities for global business.

Trust and Corporate Purpose

The vast majority continue to believe that societal expectations toward purposeful leadership continue to rise and indicators
assessing the embedding of purpose in their organisation is trending upward.

Populism, Advocacy, and Greenwashing

Although the risk of political populism is seen to continue its strong upward trend, Corporate Affairs practitioners are
exhibiting continued low levels of appetite for corporate advocacy, likely in response to fears of greenwashing accusations.

The Corporate Affairs Function

The function of Corporate Affairs continues to grow in scope and importance, with reputation management and stakeholder
engagement being the primary contributors to its impact in creating and protecting business value.

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 GlobeScan Contacts

Chris Coulter
CEO GlobeScan Incorporated subscribes to the standards of the World
Toronto Association of Opinion and Marketing Research Professionals
[email protected] (WAPOR) and ESOMAR. ESOMAR sets minimum disclosure
standards for studies that are released to the public or the media.
Anneke Greyling The purpose is to maintain the integrity of market research by
Director avoiding misleading interpretations. If you are considering the
Cape Town dissemination of the findings, please consult with us regarding the
[email protected] form and content of publication. ESOMAR standards require us to
correct any misinterpretation.
Leeam Goss-Layani
Senior Project Manager Project: 4085
Singapore
[email protected]

Curran Cunningham
Project Manager
London
[email protected]

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