Investor Statement in Support of Internet Regulations to Respect the Digital Rights of Users
Whistleblower revelations over the past year have put a spotlight on the unchecked power of technology companies and the harmful impacts of their business model and operations on users and their human rights. Technology companies have a responsibility to respect human rights and investors in their earlier statement on Corporate Accountability for Digital Rights continue to urge companies to prioritize human rights protections in their policies, practices, and business models.
Governments have a duty to protect human rights through effective regulatory measures, particularly where voluntary corporate measures continue to leave significant gaps in digital rights protections.
A group of 65 investors representing over US$8.7 trillion (Euro € 7.6 trillion) in assets under management and advisement have signed on to an Investor Statement expressing support for rights respecting internet regulation.
The European Union (EU) has proposed new regulation of digital services aimed at creating a safer digital space where the fundamental rights of users are protected and to establish a level playing field for business.
This Investor Statement calls on the EU to develop regulation, including the Digital Services Act, to incentivize and enable technology companies to address risks related to surveillance-based online advertising enabled by algorithmic systems and content management that may result in the silencing of journalists, dissident opinions, and vulnerable communities.