Safeguarding Information Integrity: Addressing Externality Costs of Misinformation in the Digital Age

Safeguarding Information Integrity: Addressing Externality Costs of Misinformation in the Digital Age Introduction The fabric of our global society is interwoven with the threads of information, and its integrity is paramount to the functioning of democratic institutions and the preservation of public trust. [...] This lack of accountability has been highlighted in the context of climate dis/misinformation (so generating double-externalities) by organizations such as Friends of the Earth, Avaaz, and Greenpeace USA, who point to the gross lack of transparency and the inadequate measures taken by social media platforms to combat the spread of such damaging narratives. [...] As part of their adherence to the proposed Code of Conduct, online platforms would agree to participate in the program, and contribute financially in the initial stage to support the development of the model. [...] However, the threat of misinformation, previously acknowledged in the Zero Drafts of the 2nd APR, was substituted with a narrower focus on State-led "information campaigns" in the APR that was adopted. [...] Furthermore, the omission minimizes the extremely important threat of mis and disinformation in a multitude of areas, from national elections to human rights protection to armed conflict, which we have seen extensively in the Ukraine conflict, and now more recently in the conflict between Israel and Hamas.