The California Public Employees’ Retirement System (CalPERS) has divested from for-profit prison giants, CoreCivic and GEO Group, over growing concerns about the material risks both companies’ systemic human rights abuses pose to their bottom lines. CalPERS is one of the world’s largest and most influential institutional investors and their move to cut their financial ties to CoreCivic and GEO Group sends a strong message to other investors that financial complicity in egregious human rights abuses is not an option.

Sacramento, CA - Hundreds of California public employees are calling on the California Public Employees’ Retirement System (CalPERS) to cut its investments in for-profit prison companies CoreCivic and GEO Group over their systemic human rights abuses. CalPERS began engaging with four companies tied to the ongoing migrant abuse crisis in response to outrage from its members, whose demands have grown stronger in the wake of the California State Teachers’ Retirement System (CalSTRS’) vote to divest from for-profit prison companies in November.

Promising financial conclusion, yet flawed analysis of ESG policies casts doubt on CalSTRS’ due diligence

Sacramento, CA - On Thursday, CalSTRS released a corporate governance report on for-profit prison companies that opens the door for CalSTRS’ board to vote in favor of divesting from CoreCivic and GEO Group, the two largest for-profit prison companies in the country. The report reached a critical conclusion that divesting from CoreCivic and GEO Group would have a negligible impact on CalSTRS’ portfolio performance, and CalSTRS’ Board is expected to take up the issue of divesting from both companies at the board meeting on November 7th in Sacramento.