“Starting 1st of July, The Coca-Cola Company will pause paid advertising on all social media platforms globally for at least 30 days,” reads a statement from Coca-Cola Company CEO James Quincey posted to the brand’s website. “We will take this time to reassess our advertising standards and policies to determine whether revisions are needed internally, and what more we should expect of our social media partners to rid the platforms of hate, violence and inappropriate content. We will let them know we expect greater accountability, action, and transparency from them.”

The beverage giant has been posting quotes about diversity and ending systemic racism on its Twitter account, including support for NASCAR’s only Black driver, Bubba Wallace.

Coca-Cola CEO and Chairman James Quincey posted a brief statement on the company’s blog (above) announcing its decision: “There is no place for racism in the world and there is no place for racism on social media. The Coca-Cola Company will pause paid advertising on all social media platforms globally for at least 30 days. We will take this time to reassess our advertising policies to determine whether revisions are needed. We also expect greater accountability and transparency from our social media partners.”

#StopHateForProfit, started just 10 days ago, on June 17, by civil rights groups including the NAACP and the Anti-Defamation League, asked advertisers to boycott Facebook advertising for the month of July, in protest of the company’s refusal to implement stronger policies and measures to stop the spread of hate content on Facebook.

Coca-Cola’s announcement comes after Unilever, whose brands include Dove, Ben & Jerry’s, and Hellmann’s, said Friday it will halt advertising on Facebook, Instagram, and Twitter in the U.S. at least through Dec. 31.

Procter & Gamble, another major Facebook spender, said earlier this week it is reviewing all media channels, networks, platforms and programs it advertises on “to ensure that the content and commentary accurately and respectfully all people, and that we are not advertising on or near content we determine to be hateful, discriminatory, denigrating or derogatory.”

“As part of that, we’re working with media companies and platforms to take appropriate systemic action where needed,” P&G chief brand officer Marc Pritchard said. The company, reached for comment, declined to specifically comment on Facebook.

During a Livestream on Facebook, CEO Mark Zuckerberg said he intends to discuss “new policies to connect people with authoritative information about voting, a crackdown on voter suppression, and fight hate speech.” He did not directly address the advertiser boycotts. 

In a recent memo to advertisers obtained by CNBC, Facebook’s VP of global marketing solutions, Carolyn Everson, said “boycotting in general is not the way for us to make progress together.” 

“I also really hope by now you know that we do not make policy changes tied to revenue pressure,” she said in the memo. “We set our policies based on principles rather than business interests.” 

This article was originally published on: https://www.cnbc.com/2020/06/26/coca-cola-pauses-advertising-on-all-social-media-platforms-globally.html