ReportGovernance Studies at Brookings

Democracy Playbook 2025: Seven Pillars to Defend Democracy in 2025 and Beyond

Edited by Norman Eisen & Jonathan Katz, 2025
https://www.brookings.edu/wp-content/uploads/2025/01/v4_democracy-playbook-2025.pdf

This third edition of the Democracy Playbook offers evidence-based best practices for reversing democratic backsliding, to help citizens and stakeholders reclaim good governance, transparency, and the rule of law, and strengthen democratic resilience.  It outlines how the business sector has historically supported these efforts by fighting corruption (Pillar 3) through actions like opposing state capture, supporting anti-corruption laws, and protecting whistleblowers, in addition to making democracy deliver (Pillar 7) through fair wages, labor rights, and investment in underserved communities. It calls on companies to continue this role, emphasizing that democratic stability is essential for reducing risk and sustaining long-term economic opportunity.

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ArticleDirectors & Boards
Navigating the Risks of Corporate Political Spending
Bruce F. Freed & Karl J. Sandstrom, 2022

Provides a framework for boards to manage the reputational, legal, and financial risks of political spending, including misalignment with public commitments, shareholder backlash, and regulatory scrutiny. Emphasizes the need for transparency and alignment with a company’s stated objectives and strategic goals. 

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VideoCorporate Political Responsibility Taskforce
Net Positive Advocacy & De-risking Sustainable Business
Andrew Winston, co-author of Net Positive, 2022
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ToolOECD
OECD Regulating Corporate Political Engagement
2022

This report reviews how 17 jurisdictions regulate corporate political engagement, highlighting gaps in transparency, oversight, and accountability. It calls for stronger governance and investor involvement to prevent undue influence.

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VideoCorporate Political Responsibility Taskforce
Paths Forward & the Role of Business in Democracy Protection
Ruth Ben-Ghiat and Katherine Venice, 2022
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VideoCorporate Political Responsibility Taskforce
Policy & Systematic Racial Inequality
Cecily Joseph, Board Director of MercyCorps, 2022
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VideoCorporate Political Responsibility Taskforce
Rebuilding Trust in American Civic Institutions
Ciara Torres-Spelliscy and Kevin Johnson, 2022
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ReportPrinciples for Responsible Investment
Responsible political engagement: stewardship practices and challenges
2022

In partnership with Chronos Sustainability, this article reflects a survey about (i) how investors identify and assess political engagement activities; (ii) how investors integrate political engagement into their stewardship activities; and (iii) challenges to engaging on responsible political engagement with investees.

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ArticleHarvard Business Review
Strategy in a Hyperpolitical World
Roger L. Martin & Martin Reeves, 2022

Based on the fact that the assumption that business and politics can and even should be kept separate is no longer realistic, the authors outline steps that effective leaders should take to ensure strategic decisions in the space, which include: (1) develop robust principles to guide strategic choices; (2) address ethical issues early; (3) consistently communicate and implement their choices; (4) engage with and beyond the industry to shape the context; and (5) learn from mistakes to make better choices in the future.

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VideoCorporate Political Responsibility Taskforce
The Bridge-Building and Healthy Self-Governance Movement
Debilyn Molineaux and Rev. Dr. F. Willis Johnson of The Bridge Alliance, 2022
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WebsiteThe Capitals Coalition
The Capitals Coalition
2022

The Capitals Coalition is a global network that helps businesses recognize how their success is directly or indirectly supported by natural, social, and human capital—like clean air, skilled workers, and public trust. It offers practical frameworks, case studies, and tools to help companies measure, value, and better manage these dependencies for more sustainable, informed decisions.

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BookThe Hoover Institute
The Human Prosperity Project: Essays on Socialism and Free-Market Capitalism from the Hoover Institution
2022

This volume explores the promise of free markets to deliver prosperity and well-being—and the social, political, and institutional conditions required to sustain that promise. It shows why businesses have a stake in helping maintain those conditions through responsible political engagement.

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ArticleMIT Sloan Management Review
The Importance of Corporate Political Responsibility
Andrew Winston, Elizabeth Doty & Thomas Lyon, 2022

This article discusses how businesses can thrive by achieving a net positive impact on people and the planet, and avoiding achieving returns by creating problems for people and planet. Calls on businesses to recognize that investing in healthy systems -- economic, civic and natural -- is the key to his positive impact. 

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ReportUN PRI
The investor case for responsible political engagement
2022

PRI sets out to create the case for investors to encourage responsible corporate political engagement. PRI shares precedent-setting principles followed by detailing the risks faced from irresponsible political engagement practices (e.g. the revolving door), which burden companies, investors, and society alike.

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ReportCouncil for Inclusive Capitalism
The Just Transition: Framework for Company Action
Council for Inclusive Capitalism, 2022

This framework is a comprehensive guide for institutions to justly transition to net-zero emissions, including four core pillars and 20 building blocks that provide practical examples for implementation, with alignment to just transition assessment methodologies.

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VideoCorporate Political Responsibility Taskforce
The Meaning of “Net Positive”
Andrew Winston, co-author of Net Positive, 2022
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BookBloomsbury
The New Political Capitalism: How Businesses and Societies Can Thrive in a Deeply Politicized World
Joe Zammit-Lucia, 2022

Joe Zammit‑Lucia argues that in today’s world, politics and business are deeply connected, and companies need strong “political antennae”—a keen understanding of societal values, regulations, and consumer expectations—to succeed. Drawing on global case studies, he shows how pressures from stakeholders, investors, and regulators require firms to embed political awareness into their purpose, strategy, and daily operations to build trust and resilience.

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VideoCorporate Political Responsibility Taskforce
The Opportunity to Renew Civic Space
Debilyn Molineaux and Rev. Dr. F. Willis Johnson of The Bridge Alliance, 2022
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VideoCorporate Political Responsibility Taskforce
The Role of Business in Non-Partisan Democratic Reform
Ciara Torres-Spelliscy and Kevin Johnson, 2022
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VideoCorporate Political Responsibility Taskforce
Toxic Polarization & Its Causes
Kristin Hansen of Civic Health Project with Tara Leweling of Allstate, 2022
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ReportFCLT/McKinsey
Walking the Talk: Valuing a Multi-stakeholder Strategy
2022

This report recognizes that the stakeholder environment has shifted for many companies to encompass a broader range of stakeholders, and provides thoughts on how companies can take a truly long-term view of stakeholder interests.

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