IFSWF Santiago Principles

Invitation to join the global investor collaboration to engage the social media companies following the shootings in Christchurch, New Zealand

The New Zealand Super Fund, alongside the other New Zealand Crown-owned investors, has announced it is leading a global collaborative engagement with three social media companies: Facebook, Alphabet and Twitter. The objective of the engagement is for the social media companies to strengthen controls to prevent the live streaming and distribution of objectionable content, such as the shootings that took place in Christchurch on Friday 15 March 2019.

Objective

The group of investors plan to engage Facebook, Alphabet and Twitter with the sole objective that the companies strengthen controls to prevent the live streaming and distribution of objectionable content, such as the shootings that took place in Christchurch on Friday 15 March 2019.

There has been strong support and interest from global investors since the announcement and the IFSWF Board has agreed to promote this campaign directly to members.

Background

The engagement initiative was publicly launched on Wednesday 20 March 2019 by a “leaders group” of NZ Crown investors, being the NZ Super Fund (NZSF), Accident Compensation Corporation (ACC), Government Pension Fund (GPF), National Provident Fund  (NPF) and KiwiWealth (KW).

The initiative has received widespread support from NZ and global investors. As at today, more than 70 have agreed to participate, representing more than NZ$9 trillion.

The initiative has been welcomed by the New Zealand Government and Prime Minister, and has been well received by media in NZ and overseas, with extensive and positive reporting.

Initiative spokesman, NZ Super Fund CEO Matt Whineray, said the group appreciated the strength of the response from investors so far. “Our initial focus has been on building a broad coalition of New Zealand investors. We have been delighted to receive swift and wholehearted support for the initiative from the wider New Zealand investment sector. There is also a groundswell of international interest and support. We are now seeking the involvement of other leading institutional investors globally. “Collective action from multiple investors has the best chance of success. The combination of New Zealand’s investor voice and a global coalition of shareholders has the potential to be immensely powerful.”

Definitions

For the purpose of this engagement, objectionable content is defined as content that promotes or supports – or tends to promote or support – acts of torture, terrorism or the infliction of extreme violence or extreme cruelty.

If you are interested in participating in the collaboration, please contact Katie Beith - kbeith@nzsuperfund.co.nz

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