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Coca-Cola said its decision did not mean it would join the #StopHateforProfit campaign.
Coca-Cola will suspend advertising on social media globally for at least 30 days, as pressure builds on platforms to crack down on hate speech.
“There is no place for racism in the world and there is no place for racism on social media,” said the president and CEO of beverage maker James Quincey.
He demanded “greater responsibility and transparency” from social media companies.
It came after Facebook said it would tag potentially harmful or misleading posts that were left for their news value.
Founder Mark Zuckerberg said he would also ban advertising that contains claims “that people of a specific race, ethnicity, national origin, religious affiliation, caste, sexual orientation, gender identity, or immigration status” are a threat to others.
Organizers of the #StopHateforProfit campaign, which accuses Facebook of not doing enough to stop hate speech and disinformation, said the “small number of small changes” would “not affect the problem.”
More than 90 companies have stopped advertising in support of #StopHateforProfit.
Coca-Cola told CNBC that its ad suspension did not mean it would join the campaign, despite being listed as a “participating business.”
Quincey said the company would use the “social media platform hiatus” to “reevaluate our advertising policies to determine if revisions are needed.”
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Clothing maker Levi Strauss & Co also said it would pause advertising on Facebook after Zuckerberg’s announcement. Unlike Coca-Cola, he accused the social media firm of not going far enough.
“We are asking Facebook to commit to decisive change,” said chief marketing officer Jen Say.
“We want to see significant progress to end the spread of disinformation and hate speech and better address the ads and political content that contribute to voter suppression. While we appreciate that Facebook announced some steps in this direction today today, it just isn’t enough. “
The #StopHateforProfit coalition, which includes the National Association for the Advancement of People of Color (NAACP) and the Anti-Defamation League (ADL), said that none of the changes would be examined or verified.
“We have traveled this path before with Facebook. They have apologized in the past. They have taken meager measures after each catastrophe where their platform played a role. But this has to end now,” he added.
Called on Mr. Zuckerberg to take additional steps, including establishing a permanent civil rights infrastructure within his company; undergo independent identity-based hate and misinformation audits; find and remove public and private groups that publish such content; and creating expert teams to review complaints.
