This is a great idea, but this is far too vague. Very clear cut terms would be necessary for this to have teeth. For instance something like, data collection on individuals must have a clear purpose, the subject of collection must be clearly presented with that knowledge, and they must derive a benefit directly connected with the item in question.
Unfortunately, as alluded to in the README, even a strong statement would have very little in terms of bite unless there is some kind of specific force backing it up. Clearly, cultural pressure is currently insufficient or this wouldn't be needed. Instead, I advise building an organization around developer ethics that can pressure decision makers. Such an organization can democratically ratify a code of ethics, collect signatures, and provide financial support for individuals that resist unethical demands and face retaliation.