Mastercard shareholders to vote on governance overhaul to address far-right extremism

Mastercard shareholders will vote on a shareholder proposal that the board of directors establish a committee on human rights, to address the threat posed by far-right extremists.

The shareholder resolution, filed by international consumer group SumOfUs, highlights that extremists like Tommy Robinson and known far-right hate groups use Mastercard, demonstrating that its governance structures do not sufficiently account for human rights. None of the company’s existing board committees have responsibility for overseeing human rights issues.

To coincide with the AGM, SumOfUs has arranged for a 25ft long/10 ft high billboard bearing the slogan “Putting hate groups out of business? #Priceless” to be driven around the company’s headquarters in Purchase, New York.

The motion will be presented to shareholders by Nandini Jammi, organizer behind the Sleeping Giants social media campaign dedicated to fighting bigotry, racism and misogyny.

>> View the resolution in full here: https://actions.sumofus.org/a/mastercard-shareholder-resolution-2019

Eoin Dubsky, campaign manager at SumOfUs, said: “We know that Mastercard currently accepts online payments to far-right hate groups and extremists, from Tommy Robinson to Proud Boys. This proves that its executives are failing to manage the human rights associated with the business in the internet age.

“As we’ve seen to such devastating effect if unchecked, hate speech has terrible consequences for innocent people. We look to all corporations to play their part in ensuring their services and products aren’t used to sow the seeds of discrimination, hatred and violence. It is essential that companies like Mastercard have the policies and processes in place to deal effectively with hate speech and human rights abuses.”

Nandini Jammi, organizer at Sleeping Giants, who will present the motion to Mastercard shareholders, said: “Today, starting a neo-Nazi group is as easy as launching any online business. The tech platforms that have enabled so many of us to open up websites and begin selling products and services have inadvertently allowed hate groups and extremists to thrive equally within the same ecosystem.

“These groups have managed to co-opt social media, e-commerce and fintech platforms to financially support criminal activities, including violence and harassment.

“From donation platforms to online stores, major tech companies are operating at a level of scale that they do not know who their customers are before they grant them access to Mastercard payments.

“It’s time for Mastercard to face the fact that until they investigate, the company will not know the scope of abuse taking place in their network.”