A man walks past shelves of Coca-Cola bottles and cans at a shopping mall in Lagos, Nigeria November 5, 2019.

Temilade Adelaja | Reuters

Coca-Cola on Friday announced it will be pausing paid advertising on all social media platforms globally for at least 30 days.

The company clarified it was not joining the official boycott, but said “we are pausing” advertising.

In the week since a group of organizations have called on Facebook advertisers to pause their ad spending during the month of July, more than 90 marketers including Verizon, Patagonia, REI, Lending Club and The North Face have announced their intention to join, according to a running list from Sleeping Giants. The group of organizations includes the Anti-Defamation League, the NAACP, Sleeping Giants, Color of Change, Free Press and Common Sense.

“There is no place for racism in the world and there is no place for racism on social media,” Coca-Cola CEO and Chairman, James Quincey, said in a statement. “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.”

The beverage giant has been posting quotes on diversity and ending systemic racism on its Twitter account, including support for NASCAR’s only Black driver, Bubba Wallace.

Coca-Cola’s announcement comes after Unilever, whose brands include Dove, Ben & Jerry’s and Hellmann’s, said Friday it will halt advertising on Facebook, Instagram and Twitter in the U.S. at least through Dec. 31.

Unilever joined brands like Eddie Bauer, The North Face and Patagonia as part of a campaign forcing the social media network to more stringently police hate speech and disinformation by taking a number of actions, including creating a “separate moderation pipeline” for users who say they’ve been targeted because of their race or religion, or to let advertisers see how frequently their ads appeared near to content that was later removed for misinformation or hate, and allow them refunds for those advertisements. 

Procter & Gamble, another major Facebook spender, said earlier this week it is reviewing all media channels, networks, platforms and programs it advertises on “to ensure that the content and commentary accurately and respectfully all people, and that we are not advertising on or near content we determine to be hateful, discriminatory, denigrating or derogatory.”

“As part of that, we’re working with media companies and platforms to take appropriate systemic action where needed,” P&G chief brand officer Marc Pritchard said. The company, reached for comment, declined to specifically comment on Facebook.

During a livestream on Facebook, CEO Mark Zuckerberg said he intends to discuss “new policies to connect people with authoritative information about voting, crack down on voter suppression, and fight hate speech.” He did not directly address the advertiser boycotts. 

In a recent memo to advertisers obtained by CNBC, Facebook’s VP of global marketing solutions, Carolyn Everson, said “boycotting in general is not the way for us to make progress together.” 

“I also really hope by now you know that we do not make policy changes tied to revenue pressure,” she said in the memo. “We set our policies based on principles rather than business interests.”  

Stay tuned for updates on this breaking news story

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