Board screens out private-prison investments
A UMNS Report | By Heather Hahn | January 5, 2012
Angela Moyo protests outside the Nashville, Tenn., headquarters of Corrections Corporation of America on Nov. 14. UMNS photos by Kathleen Barry.
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Private prison companies are big business. But, is it moral for United Methodists to make a profit from the incarceration of people?
The United Methodist Church’s pension agency has pondered that question since May. The Board of Pension and Health Benefits announced Jan. 3 its decision to prohibit investments in companies that derive more than 10 percent of their revenue from the management and operation of prison facilities.
“It came down to that profiting from the incarceration of others was just not consistent with our view of what the (denomination’s) Social Principles ask for,” said David Zellner, the board’s chief investment officer. Continue reading