World’s largest advertiser Unilever, has threatened to pull its investment from tech giants like Google and Facebook.
According to it, if these platforms continue to sow division, fuel hate and fail to protect children then it will be left with no other alternative than to opt out.
The Chief Marketing Officer of Unilever Keith Weed said, the technology industry needs to improve transparency and consumer trust as fake news is gradually taking over the industry.
“As one of the largest advertisers in the world, we cannot have an environment where our consumers don’t trust what they see online,” he said.
The advertiser’s criticism comes as lawmakers and some tech executives have blasted tech companies for their inability to scrub their platforms of illegal content and fake news.
However, executives from Facebook and other tech companies have admitted that they could do more to combat hate, abuse and extremism on their platforms.
“We have over-invested in building new experiences and under-invested in preventing abuses,” Facebook’s public policy chief, Elliot Schrage said.
“It is clear advertisers are becoming increasingly wary of online’s quality and so are unlikely to shift money aggressively from TV to online as these concerns mount.”
Weed on the other hand is expected to promise to “prioritize investing” only in digital platforms that act responsibly and create “a positive impact in society.”