Coca-Cola is the latest brand to back the #StopHateforProfit campaign by American civil rights groups.

Coca-Cola chief executive James Quincey said on Friday that the company would halt all social media ads for 30 days while it rethinks its policies.

"There is no place for racism in the world and there is no place for racism on social media," Quincey wrote on Coca-Cola's site . "The Coca-Cola Company will pause paid advertising on all social media platforms globally for at least 30 days. We will take this time to reassess our advertising policies to determine whether revisions are needed. We also expect greater accountability and transparency from our social media partners."

george floyd poster Nicolas Tucat/AFP via Getty Images
george floyd poster
The #StopHateforProfit campaign launched on June 19 in the wake of George Floyd's death at the hands of Minneapolis police officers and the subsequent worldwide protests. It was triggered by Facebook's refusal to remove a post by President Donald Trump, which threatened the protesters with violence.

Trump wrote in his post, "when the looting starts, the shooting starts" and also called the demonstrators "thugs."

Facebook Trump post looting shooting Shona Ghosh/Business Insider
Facebook Trump post looting shooting
The campaign pressures major advertisers to rethink their ad spend on Facebook until it brings in stricter moderation policies.

Big corporations, including Unilever, the Hershey Co, the North Face, Verizon, and many others have over the last week, either paused or halted their advertising with Facebook and other social media platforms as a result.

The pressure appears to be working. Late on Friday, Zuckerberg announced the company will now label "newsworthy" posts from politicians that break its rules on, for example, hate speech or violent speech. It's a significant shift, given the company has up till now totally refused to moderate politicians' rhetoric.