Risks to democratic processes are increasing significantly
Source: Asia Insurance Review | Jan 2023
One third of countries across the world have seen risks to their democratic processes increase significantly during the past five years, with corporates operating in poorly ranked countries facing ESG and supply chain threats according to Verisk Maplecroft democratic governance ondex (DGI).
The latest edition of DGI, which tracks and measures threats to electoral processes, civil and political rights, reveals that 61 of the 198 countries tracked have seen democracy scores fall.
A media release by Verisk said, “Democracy is under fire. A volatile mix of interference in voting processes, crackdowns on civil rights and institutional decay is fuelling a global decline in democracy.
It flags 11 countries that have seen a significant rise in risks to their democracy during the past year, including Russia, which now ranks in 11 place, down from 19. Other notable backsliders include Afghanistan, which now ranks as the sixth highest-risk country, from 35 last year, after the return of Taliban rule. Also falling were Hungary, Mexico and Tunisia, which fell 21 places to 100 place after President Kais Saied seized judicial and executive powers.
The modeller said 37 countries have seen the integrity of their voting process decrease and access to free and fair voting has come under pressure across the world.
The modeller also warned organisations with operations in the index’s worst-performing countries of associated ESG implications. “The risk of being seen to be complicit with repressive regimes should be a foremost concern,” it said. A