Robbo sez, “As a Canadian in my later years I benefit from my monthly Canada Pension Plan payments. As a Canadian and a human being I am disgusted that CPP holds stock in Geo Group and CoreCivic, companies who operate for-profit prisons and immigrant detention centres. As MP Charlie Angus (NDP) sez: ‘Quite frankly, if they’re going to be investing in private prisons, weapons manufacturers and tobacco companies, why aren’t they investing in narco gangs?’ They better clean this shit up – and fast.”
The increase in Geo Group shares was from the 12,000 shares held a year previous, according to August 2017 filings. During the same period, the pension fund grew its investment in America’s second biggest private prison company, CoreCivic, to 73,700 shares from 33,000 shares, worth around $1.7m.
Canadian justice and democracy advocates also questioned the ethics of acquiring and growing the holdings. About 70% of the immigrants the US government detains are held in facilities run by CoreCivic or GEO Group, according to 2017 statistics obtained by the National Immigrant Justice Center.
Catherine Latimer, the head of the John Howard Society of Canada, a penal and justice reform advocacy group, said: “Our experience, with the research we’ve done on private prisons, indicates it’s not the type of social investment we would like to see Canada support.”