California’s Public Employee Pension Faces Increasing Pressure from Stakeholders to Cut Investments in For-Profit Prisons Tied to Migrant Abuse

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.

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Emily Goldman
In Historic Move, CalSTRS Divests From For-Profit Prison Companies

Sacramento, CA - On Wednesday, November 7th, the California State Teachers’ Retirement System (CalSTRS) Board voted to divest from for-profit prison companies CoreCivic and GEO Group over their widespread human rights abuses. This is one of the few times in CalSTRS’ history that advocates have successfully pushed the country’s second-largest pension fund to divest.

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Emily Goldman
CalSTRS’ Report on For-Profit Prison Companies Could Mean Divestment

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, which reached a critical conclusion that divesting from CoreCivic and GEO Group would have a negligible impact on CalSTRS’ portfolio performance, is the product of months-long research into both companies’ human rights abuses. CalSTRS’ Chief Investment Officer, Christopher Ailman, initiated the review in July after hundreds of CalSTRS members signed petitions, called and emailed CalSTRS, and spoke out at board meetings, calling for divestment from these “migrant abuse companies.” CalSTRS’ Board is expected to take up the issue of divesting from CoreCivic and GEO Group at the board meeting on November 7th in Sacramento.

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Press ReleaseEmily Goldman
#Educators4MigrantJustice Plans Protest at CalSTRS’ Board Meeting

Sacramento, CA - Educators across California will join forces at the California State Teachers Retirement System (CalSTRS) board meeting on Thursday to voice their outrage over CalSTRS’ investments in four of the companies enabling and profiting off of family separation and detention. With a new petition launched by Educators for Migrant Justice, CalSTRS is facing mounting pressure from its members to immediately divest from for-profit prison companies CoreCivic and GEO Group and push General Dynamics and United Rentals to stop providing equipment and services used to process migrant children separated under the administration’s zero tolerance policy.

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Press ReleaseEmily Goldman