Social media campaigns have the power to instigate collective shareholder activism. Uniting voices together, makes it easier for individuals and their communities to be heard.
A well-known social media tag is the #GrabYourWallet campaign which was started by a small business owner, who was sick of the way Trump was speaking of and treating women. Sharon Coulter was browsing the online store of a luxury American department store called Nordstorm -which happened to stock Ivanka Trump branded apparel and shoes- when she came up with the idea. By keeping an up-to-date list, which was published online, of companies that were selling Trump-branded goods, Coulter was able to instigate a mass boycott of retailers that stocked Trump products. Companies that withdraw Trump-named products from their shelves are taken off the list. This social activism has prompted a reaction from several big-name retailers who have withdrawn Trump-named items from their stores. This movement really shows that by getting behind one another, individuals can influence corporate decisions as well affecting the profitability of certain brands and companies, even those that don the Trump name.
Did you know?
Investing in the Dump Trump screen means you will be boycotting retailers named on the #GrabYourWallet campaign, it’s your turn to do something!
Whilst the GrabYourWallet# was particularly popular in the United Stated, one campaign that cannot be overlooked is Australia’s own #StopAdani campaign. The Adani Group is seeking to build the Carmichael Coal Mine which is contentious because Adani has been provided with a license to free and unlimited water, the potential for greenhouse gas emission from the extracted coal, lack of recognition of the Traditional Owners of the land in the Galilee Basin and Adani’s poor track record in terms of the environment, corruption and human rights abuses. Stop Adani has been a critical protest, which became a decisive factor in the recent Queensland elections with candidates taking sides to attract votes, with anti-Adani sentiment running high. The loud and powerful protest has been instrumental in portraying a perception that any involvement in Adani’s Carmichael Mine will not be tolerated. This includes major banks walking away from financing the Carmichael project.
Do you feel you should do something to #StopAdani too?
See how you can here.
Boycotting money from being invested into companies who have contentious practices, projects or affiliations can be quite complex. With different companies going through mergers and acquisitions, it can be hard to know who you’re actually buying from, or investing in.
This is the power we hope to provide to Good Super members. That is, the ability to choose what cause their superannuation investments are aligned with. If you don’t favour Trump’s politics, behavior or views, then Dump Trump is the screen which would suit you best. If you favour environmental causes then Boycott Adani or Deforestation would be your go-to investment option. We’re making it easier for individuals to impact causes they care about.
It’s up to you where you stand, but know that your superannuation is a powerful instrument for affecting the bottom line of large corporations.