Investors representing $US700B, led by the Investor Alliance for Human Rights, delivered a statement to 22 Information and Communication Technology (ICT) companies highlighting growing financial and reputational risks in the ICT sector due to the mishandling of user data and real and potential human rights abuses.

In their statement, investors cited the major data breaches of 2018, the manipulation of social media platforms to propagate hatred and censorship by ICT companies at the behest of authoritarian regimes. They also highlighted the importance of respecting digital rights, including the right to privacy and freedom of expression, and outlined the risks for companies that do not sufficiently address the protection of these rights.

The statement urges ICT companies to use the Ranking Digital Rights (RDR) Corporate Accountability Index as a tool to help them improve their governance systems and performance on salient human rights risks related to privacy and freedom of expression. The investors say they rely on the RDR Index to assist in investment decision-making and to inform corporate engagements with the ICT sector.