Formerly Facebook Inc. Online social networking service and website founded in 2004 by Mark Zuckerberg and fellow Harvard students. It had 2.3 billion monthly active users at end of 2018. Acquired Instagram in 2013 and WhatsApp and Oculus in 2014. Changed its name to Meta in 2021 as it shifted its focus to virtual reality.
|Meta Platforms Inc||USA||website|
|Meta Platforms Inc|
Greenpeace's 2017 report 'Clicking Clean' looks at the energy footprints of large data centre operators and popular websites and applications, and calls on these companies to power their data centres on renewable energy. Companies are graded (A,B,C,D,F) on their commitment to and procurement of renewable energy, as well as energy efficiency, transparency and advocacy. This company's final grade was A.
Source: Greenpeace (2017)
In 2022, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change Score of B.
Source: CDP (2022)
This company is listed as having best practice on a report card on lesbian, gay, bisexual and transgender equality in corporate America.
Source: Human Rights Campaign (2021)
This company received a score of 1.6/100 (retrieved 10-Oct-2020) in the Corporate Information Transparency Index (CITI), a system for evaluating supply chain practices in China, particularly in regards to environmental management and water pollution. Scores are calculated using government compliance data, online monitoring data, and third-party environmental audits, as well as trends in the environmental performance of factories in the company's supply chains.
Source: IPE (2020)
Beginning in August 2017, the Myanmar security forces undertook a brutal campaign of ethnic cleansing against Rohingya Muslims. Amnesty International's 2022 report is based on an in-depth investigation into Meta's role in the serious human rights violations perpetrated against the Rohingya. Meta's algorithms proactively amplified and promoted content which incited violence, hatred, and discrimination against the Rohingya - pouring fuel on the fire of long-standing discrimination and substantially increasing the risk of an outbreak of mass violence. The report concludes that Meta substantially contributed to adverse human rights impacts suffered by the Rohingya and has a responsibility to provide survivors with an effective remedy.
Source: Amnesty (2022)
The Chinese government has facilitated the mass transfer of Uyghur and other ethnic minority citizens from the far west region of Xinjiang to factories across the country. Under conditions that strongly suggest forced labour, Uyghurs are working in factories that are in the supply chains of at least 83 well-known global brands in the technology, clothing and automotive sectors, including brands owned by this company. The Australian Strategic Policy Institute's 2020 report estimates (somewhat conservatively) that more than 80,000 Uyghurs were transferred out of Xinjiang to work in factories across China between 2017 and 2019, and some of them were sent directly from detention camps.
Source: ASPI (2020)
This company appears on Burma Campaign UK's 'Dirty List' of companies assisting the Burmese military to continue to commit human rights violations and environmental destruction. Facebook has consistently allowed its platform to be used to incite hatred and violence of minorities in Burma, in particular the Rohingya Muslim minority and Muslims in general. Numerous complaints were ignored by the company. Facebook have been severely criticised by civil society in Burma, and by the United Nations, for their lack of action in addressing hate speech.
Source: Burma Campaign UK (2019)
In 2019 Facebook agreed to pay a record-breaking $5 billion fine to settle a U.S. Federal Trade Commission probe into its privacy practices. The deal has been widely criticised as not going far enough. $5 billion is about one months revenue for Facebook.
Source: news article (2019)
Facebook knows, in acute detail, that its platforms are riddled with flaws that cause harm, often in ways only the company fully understands. That is the central finding of a Wall Street Journal series, based on a review of internal Facebook documents, including research reports, online employee discussions and drafts of presentations to senior management. Findings include: Facebook shields millions of VIPs from the company's normal enforcement using "XCheck"; Instagram is toxic for many teen girls; algorithms that encourage incendiary content; weak response to human right abuses; and efforts to attract even younger users.
Source: Wall Street Journal (2021)
In November 2022 Ireland's data privacy regulator (DPC) imposed a 265 million euro fine on social media giant Facebook, bringing the total it has fined parent group Meta to almost 1 billion euros. In September 2022 Instagram was fined 405 million euros. 13 more inquiries into Meta by the DPC are outstanding.
Source: Reuters (2022)
This company received a score of 23.1/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek (2017)
Many apps are designed to be deliberately addictive, using psychological tricks that continuously grab your attention. The Center for Humane Technology partnered with Moment, an app that helps people track their screen time, to ask how much screen time in apps left people feeling happy, and how much time left them in regret. Apps were ranked with data collected from a pool of 200,000 iPhone users. This company's Facebook app ranked third in the Most Unhappy list, with 64% of users reporting they are "unhappy" with the app and how much time they spend on it, with daily usage averaging 59 minutes. Their Instagram app ranked twelfth in the Most Unhappy list, with 51% of users reporting they are "unhappy" with the app and how much time they spend on it, with daily usage averaging 54 minutes.
Source: Center for Humane Tech (2021)
As You Sow's 2022 report, 'Road to Zero Emissions', assessed the progress of 55 of the largest U.S. corporations in reducing greenhouse gas (GHG) emissions in line with the Paris Agreement's objective of limiting global average temperature rise to 1.5 degrees Celsius above pre-industrial levels, which requires achieving "net zero" emissions by 2050. Companies are graded on: climate related disclosures; GHG reduction targets, and GHG reductions. This company received an Overall Net Zero grade of D.
Source: As You Sow (2022)
In Oct 2021, this company agreed to pay $14 million to the US Departments of Justice and Labor to end an anti-discrimination lawsuit alleging the company reserved jobs for temporary visa holders rather than hiring US workers. The $14.25 million payout includes a $4.75 million fine and a fund of up to $9.5 million for individuals impacted by Facebook's alleged bias.
Source: Top Class Actions (2021)
This company received an S&P Global ESG Score of 25/100 in the Interactive Media Services & Home Entertainment category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 18 Nov 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2022)
In 2021 Facebook was fined 50.5 million GBP for breaching an order imposed by the UK competition regulator during its investigation into the purchase of the gif creation website Giphy. The Competition and Markets Authority (CMA) said the social networking company "deliberately" refused to supply information proving that it was complying with an initial enforcement order (IEO). The CMA said it was the first time a company had "consciously refused" to supply information under an IEO.
Source: The Guardian (2021)
This company is on OpenSecrets.org's list of "Top Spenders on Lobbying", a list of the 20 organizations that have spent the most trying to influence US government policy. This company comes in at number 19 on the list, having spent $12,780,000 on lobbying in 2020.
Source: Open Secrets (2021)
The Invest Your Values Corporate Retirement Plan Sustainability Scorecard by As You Sow rates retirement plans on seven environmental and social sustainability issues. This company's default corporate retirement plan offered to employees is the Vanguard Target Retirement Fund which is rated Fair for gender equality and civilian firearms, and Poor for fossil fuels, deforestation, prison industrial complex, military weapons and tobacco. This retirement plan has millions of dollars invested in fossil fuels, deforestation-risk agribusiness, and arms manufacturers.
Source: As You Sow (2022)
JUST Capital polls Americans every year to identify the issues that matter most in defining just business behaviour. For their 2023 rankings JUST Capital asked a representative sample of 3,002 Americans to compare 20 different business Issues on a head-to-head basis, producing a reliable hierarchy of Issues ranked in order of priority. Issues are organised under the headings Workers, Customers, Communities, the Environment, or Shareholders & Governance. JUST Capital then define metrics that map to those issues and track and analyse the largest, publicly traded U.S. companies. This analysis powers their rankings, in which this company ranked 710th of 951 companies, and 5th of 9 Internet companies.
Source: JUST Capital (2023)
Freedom from Facebook and Google is a coalition of civic groups pressing for accountability from the tech platforms. "Facebook and Google are two of the world's most dangerous monopolies. They have seized control of how billions of people communicate online, making more than $200 billion a year from selling advertising. They addict us to their services, promote dangerous content, engage in surveillance, and rent out our attention to anyone willing to pay up." The coalition is calling for Facebook and Google to be broken up, regulated, and held accountable for wrongdoing.
Source: Freedom from Facebook and Google (2021)
In 2019 the median pay for a worker at this company was US$247,883. The CEO was paid 94 times this amount. Exorbitant CEO pay is a major contributor to rising inequality. CEOs are getting more because of their power to set pay, not because they are increasing productivity or possess specific, high-demand skills. The economy would suffer no harm if CEOs were paid less (or taxed more). In contrast, the CEO-to-typical-worker compensation ratio was 20-to-1 in 1965 and 58-to-1 in 1989. A lower pay ratio could indicate a company is dedicated to creating high-wage jobs and investing in their employees for the company's long-term health.
Source: AFL-CIO (2020)
As You Sow's 2021 report, 'The 100 Most Overpaid CEOs', reveals the 100 most overpaid CEOs from USA's 500 largest public companies (as determined by the S&P 500 list). This company's CEO, Mark Zuckerberg came in at number 73 on the list, having been paid US$23,415,973 in 2020. According to the report, "Most CEOs have come to be grossly overpaid, and that overpayment is harmful to the companies, the shareholders, the customers, the other employees, the economy, and society as a whole."
Source: As You Sow (2021)
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: adopt a science-based emissions reduction target; commit to 100% renewable power.
Source: We Mean Business (2021)
This company is a member of the Responsible Minerals Initiative (formerly the Conflict-Free Sourcing Initiative), which helps companies address conflict minerals issues in their supply chains. The RMI provides information on conflict-free smelters and refiners, common tools to gather sourcing information, and forums for exchanging best practices on addressing conflict minerals. Membership is open to companies that use or transact in tantalum, tin, tungsten or gold (3TG). Founded in 2008 by members of the Electronic Industry Citizenship Coalition and the Global e-Sustainability Initiative.
Source: RMI (2019)
This company is a member of the Responsible Business Alliance (formerly the Electronic Industry Citizenship Coalition), a non-profit coalition of electronics companies which supports the rights and wellbeing of workers and communities worldwide affected by the global electronics supply chain. RBA members commit and are held accountable to a common Code of Conduct and utilize a range of RBA training and assessment tools to support continuous improvement in the social, environmental and ethical responsibility of their supply chains.
Source: RBA (2022)
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: company website (2017)
Business & Human Rights Resource Centre digital platform presents news and allegations relating to the human rights impact of over 20,000 companies. Their enhanced Company Dashboards also include financial information, key data points based on corporate policies, and scores from prominent civil society benchmarks. Follow the link and use the search function to view this company's dashboard.
Source: BHRRC (2022)
OpenSecrets.org tracks the influence of money on U.S. politics, and how that money affects policy and citizens' lives. Follow link to see this company's record of political donations, lobbying, outside spending and more.
Source: Open Secrets (2020)
Facebook has received criticism on a wide range of issues, including its treatment of its users, online privacy, child safety, hate speech, and the inability to terminate accounts without first manually deleting the content.
Source: Wikipedia (2014)
|Revenue||86 billion USD (2020)|
|Subsidiaries||Facebook Australia Pty Ltd|
|Address||Menlo Park, California, USA|
Products / BrandsFacebook Australia
Facebook Social Media
Facebook Messenger Messaging
Instagram Social Media
Meta Quest VR Headsets
Oculus VR Headsets