Four trends would seem to be empowering environmentalists who target corporations with global brands: the increasing reach of social media, growing numbers of campaigns, the corporate turn toward “sustainability” to create brand value and manage supply chains, and the spread of eco-consumerism. Campaigns since 2007 to demand that brands stop buying palm oil linked to tropical deforestation confirm the rising influence over corporate policies and market demand. Many activists are portraying the outcomes as “victories” toward saving rainforests. Yet, three factors are limiting the value for improving on-the-ground management: industry influence over, and governance limits of, palm oil certification; ongoing sales of uncertified palm oil as demand shifts to nonbrand buyers; and illegalities and weak regulatory enforcement in producer countries, notably Indonesia and Malaysia. Theoretically, this analysis demonstrates the importance, when evaluating activist campaigns, of distinguishing between the influence on corporate policies and markets and the effectiveness for environmental outcomes.