Briefing

Ten new members with $3 trillion in assets join proxy against violent content on social media

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The group, launched by New Zealand’s Super Fund, now has 55 institutional investors backing the call for Facebook, Google and Twitter to take more responsibility for material published on their websites following the Christchurch mosque shootings. The group has a combined $4.4 trillion in assets under management, up from $1.35 trillion when The Logic reported on the initiative in April. The new members include Media Super, an Australia-based investment fund for media professionals; Mirova, a French fund focused on sustainable investment; and Nomura Asset Management in Japan. (The Logic)

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Talking point: The new members nearly triple the fund’s investment clout, adding to the pressure the group can leverage against the social media giants. This news follows political leaders signing the Christchurch Call, pledging global cooperation on tackling violent and extremist content online, in Paris Tuesday. In a statement, Matt Whineray, CEO of NZ Super Fund, said the commitment could help move the investors’ initiative forward. “Part of our engagement with social media companies will involve monitoring and ensuring accountability for the Christchurch Call commitments made,” said Whineray. When The Logic spoke with Whineray in April, he said Facebook, Google and YouTube had not responded to the investors’ initiative. The New Zealand initiative, which includes just one Canadian member—BMO Global Asset Management—is still welcoming new members.