Public demand for increased regulation is markedly higher in industrialised nations than in emerging economies, the latest GlobeScan Radar data show.
Respondents across 20 countries were asked to say whether they thought there was not enough, the right amount, or too much regulation across eight industry sectors.
North America, northern Europe and Australia all emerge as regions where demand for regulation across the board is high. China is the only emerging economy which shares this perspective—perhaps an indication of the widespread assumption that government playing a central role in the economy. High demand for more regulation in the USA is clearly at variance with current political rhetoric that demands less ‘big government’. Those in developing nations in Africa and Latin America, in contrast, seem to prefer a light touch approach to regulation while their economies develop.
The findings also reveal that it is often the sector that is critical to the local economy that faces highest public expectations for tight regulation—for instance, the mining sector in Chile (particularly after the recent incident when miners were trapped underground for several months), the oil industry in the USA or the banking sector in the UK. Companies in the sectors in question can expect to come under significant pressure and scrutiny from government and other stakeholders in these key countries to ensure they meet public demands to operate responsibly.
Finding from the GlobeScan Radar, Wave 2, 2010
Fact Sheet for the BSR/GlobeScan State of Sustainable Business Poll 2009, released at the BSR Conference 2009
Full Report of the BSR/GlobeScan State of Sustainable Business Poll 2009, released at the BSR Conference 2009