Canada pension fund quietly divests from US migrant detention firms
private prison operators responsible for the detention of thousands of
migrants along the US-Mexico border.
Late last year, the Guardian reported
that the Canadian Pension Plan Investment Board (CPPIB) held nearly
US$8m in stock in Geo Group and CoreCivic, which between them hold the
lion’s share of contracts to manage Immigrations and Customs Enforcement
(Ice) detention facilities in the US.
The CPPIB, which manages C$392bn (US$299m) in pension funds on behalf
of 20 million Canadians, did not make a public statement when it
dropped the two companies from its list of foreign public equity holdings, but the change was spotted this week by the federal MP Charlie Angus, a member of the opposition New Democratic party.
On Friday, he called on the CPPIB to publicly acknowledge the divestment and take a position on ethical investing.