Without the financial support of major investors like Vanguard and Wells Fargo, CCA and GEO alone would not be strong enough to successfully lobby for policies that increase the federal government’s demand for private prisons. With these powerful allies, however, they have been able to sway public policy in favor of more severe “tough on crime” laws and the increasing criminalization of immigrants.
The financial services industry now makes up a third of the US economy, and its members collectively own over two-thirds of CCA and GEO Group. It is the most powerful lobbying force in both Washington DC and in state governments. To address the root causes of anti-immigrant and other racist legislation, we must expose and sever the financial ties that allow shareholders to cash in on the incarceration of immigrants and people of color.
There are 36 major financial investors that own over one million shares of CCA and GEO combined. By targeting these investors we can show our rejection of the PIC and use our influence as investors to demand Socially Responsible Investments. The following companies each own over 1 million shares of CCA and GEO, and collectively own over two-thirds of CCA and GEO:
Divestment from these financial services companies because they support CCA and GEO will force these companies to change their investment practices if they want to continue making a profit. With enough public pressure, these 36 major investors will divest or create portfolio screens shielding their investments from making their way to CCA and GEO. Once deprived of the financial support of their investors, CCA and GEO will lose capital and with it, their ability to lobby for stricter punishments, anti-immigration laws, and more contracts.