The National Private Prison Divestment Campaign targets the investors of both CCA and GEO to break their lobbying power and to make CCA and GEO’s abuses so visible that public and private institutions will disavow any connection to private prisons. Profiting from the separations of families, violations of human rights, and general pain caused by these prisons is inhumane and unacceptable.
Victories for our cause thus far:
- Pershing Square Capital Management, fully divested its CCA holdings of over 7 million shares worth $180 million.
- Stopped Construction of Proposed Immigrat Detention Facility in Southwest Ranches, FL
- The Pension Board of the United Methodist Church—the largest faith-based pension fund in the U.S.—announced divestment of all its private prison holdings.
- Podesta Group, a powerful lobbying firm in Washington D.C., dropped GEO Group as a client.
- General Electric fully divested its nearly 2.7 million shares in CCA.
- The General Assembly of the Presbyterian Church (U.S.A) created a portfolio screen that affirmed a statement they made in 2003 to oppose private prisons. The resolution also encourages individual Presbyterians and congregations to divest from private prisons.
- Stopped Construction of Proposed Immigrant Detention Facility in Crete, IL
- Allianz Asset Management and Systematic Financial Management LP fully divested, each dumping over 1 million shares of prison industry stock.
- Florida Atlantic University students prevented GEO Group from donating $6 million to their university and gaining naming rights to their stadium.
- Amica and DSM Netherlands fully divested from CCA and GEO Group.
- Wells Fargo & Company divested 80% of its aggregate holdings in the GEO Group since the start of our campaign.
- Texas Employee Retirement System fully divested
- 5 University of California campuses passed divestment resolutions at the student senate level, in preparation for full UC Regents divestment.
- Granite Peak Unitarian Universalist Church moved its money out of Wells Fargo due to the company’s private prison ties.
- Scopia, a long-time Million Shares Club member, completed its divestment of 6 million shares of GEO Group stock held in 2013, worth $202 million.
- Sit Investment Associates fully divested over $20,000 from the private prison industry.
- Portland City Council adopted Socially Responsible Investment (SRI) Policy to include human rights abuses by corporations like Private Prisons, and voted to include directly impacted people on the SRI committee.
- New York State United Teachers adopted a resolution to investigate current pension investments in prisons and to move immediately to divest from prisons.
- Columbia University became the very first university in the country to divest its endowment from the private prison industry. Columbia divested $10 million in holdings from CCA and G4S.
- Hampshire College amended the language of its institutional investment policy to include private prisons on a list of specific examples of industries not favored for investing.
- The California Endowment divested from companies that derive significant annual revenue from the operation of private prisons, jails, detention centers and correctional facilities.
- University of California Chief Investment Officer announced that the UC endowment–the largest endowment fund in the world–will divest its $25 million in prison investments.
- Hamlin Capital Management, LLC, a long-time holder of more than 1 million shares of CCA stock, fully divested its holdings worth $31.6 million in the third quarter of 2015. ING Groep divested over a million shares of GEO stock, worth $57.5 million, and Makaira Partners LLC divested $35.1 million worth of stock in CCA.
- California State University Los Angeles announced that it will divest from private prisons and reinvest in Black scholars and students of color.
- Portland Socially Responsible Investments Committee voted to divest from Wells Fargo, due to their role as a Million Shares Club member of private prisons. The Committee’s recommendation will go up for a vote by City Council later in 2016.
- City of Berkeley Peace and Justice Commission passes resolution to divest from private prisons.
- Stopped GEO Group from building For-Profit Re-entry Facility in South Los Angeles, CA
- Private prison and security company G4S announced the sale of its youth jail contracts and its Israeli subsidiaries.
Oregon Education Association, representing pre-K to 12th grade teachers, passes a resolution to push for divestment of the Public Employee Retirement System (PERS) from prisons and their major investors.
Senator Ron Wyden (D-OR) introduced the Ending Tax Breaks for Private Prisons Act of 2016 on July 14, 2016. If passed, the legislation would end Real Estate Investment Trust (REIT) tax breaks for companies that derive their income from the operations and maintenance of prisons.