TELESTO STRATEGY

Board series: Physical Climate risk

MAY 2025

Some have attributed the unexpected wins for progressive-leaning candidates in Canada and Australia to the “Trump Effect” — where policies and approach from U.S. President Trump have inadvertently galvanized electorates to non-populist electoral victories. While it may be too soon to call it a definite trend, corporate boards should evaluate key elections in 2025 to determine where there might be more political turbulence than anticipated. What additional surprises will 2025 hold?

Key takeaways:

  • YTD election results have yielded surprising results in left-leaning parties winning, many citing the “Trump-effect” in action
  • With 2025 hosting a number of elections germane to U.S. multinationals, corporate boards should evaluate their geopolitical outlook, strategy, and assess national security implications
  • With so much increased geopolitical tensions, boards will have to improve internal capability to assess a growing portfolio of enterprise risks: regulatory and policy, geopolitical instability and nationalism, currency and economic volatility, legal and operational risk, reputational risk, and critical mineral access

2025’s surprising electoral outcomes – the Trump effect?

Electoral surprises have shown up globally and here in the U.S. A quick view of electoral surprises in the first four and a half months of the year:

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Additional Telesto resources:


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