Study: How Energy Industry Can Gain Trust

Posted May 15, 2014 at 10:25am

Edelman published its annual Trust Barometer, which includes a special look at the Energy Industry: “A measure of trust is critical as energy companies look for opportunities to bring energy solutions and benefits to all people while policymakers face the complex balancing act between resource development and economic, environmental and political realities. The good news is 86 percent of respondents believe a company can take specific actions that both increase profits and improve the economic and social conditions in the communities where it operates. Energy companies need to embrace this invitation to do the right thing.”  

“The energy industry is on the right track in terms of building trust as trust of the industry has improved slightly over the last five years. Factors often driving peoples’ trust in energy include cost, reliability, sustainability and cleanliness. Major crisis events also affect trust levels as do supply fears. But trust is also underscored by the engagement environment in terms of public opinion, media coverage and NGO activity. In this ecosystem of trust, the typically low profile and limited engagement of the energy industry with communities, media and NGOs is a key trust driver.”  

It continues: “The energy industry faces significant trust deficits that are inherent to its industry, but Edelman’s 14th Annual Trust Barometer shows how various sectors — including renewables, natural gas, utilities, oil and mining — must engage in order to operate in the current trust environment.”  

View slide show here: