Students as Shareholders
As students ourselves, we believe that we should have a stake in the way our universities invest their money. Many universities across the US have personal ties to slavery. Moreover, nearly all have and depend on systems that are built on injustices that manifest in racism and other forms of discrimination.
US universities cumulatively invest over $250B in their endowment funds. Shareholder advocacy describes the power of the investor to make social change in a company. Divestment, on the other hand, is completely withholding investment in certain companies.
Today, we as students are asking our universities to divest from the prison industrial complex with special attention to the following:
US universities cumulatively invest over $250B in their endowment funds. Shareholder advocacy describes the power of the investor to make social change in a company. Divestment, on the other hand, is completely withholding investment in certain companies.
Today, we as students are asking our universities to divest from the prison industrial complex with special attention to the following:
- Divest from private prisons and publicly report on these efforts when they are in place.
- Divest from companies that exploit prison laborers in their supply chains.
- Divest from companies with monopolies or business contracts that control prison necessities such as phone lines, food, health care and commissary items.
- Require all future investments to be in companies with fair chance hiring practices and
- Leverage their power as shareholders to demand change in the companies that:
- Refuse to fairly consider formerly incarcerated individuals as job applicants.
- Neglect issues such as racial discrimination and justice reform in public statements and company conversations.
- Fail to include or support actions that reduce recidivism rates in their corporate social responsibility efforts.
Why divest from private prisons?1. Individuals tend to serve longer sentences in private prisons.
2. The profit of private prisons is generated and maintained solely through the maintenance of incarcerated individuals and their criminalization. 3. There are lower staffing levels in private prisons which results in more violence within prison walls. |
When does prison labor become exploitative?1. In the 13th amendment, slavery was outlawed. However, it still permits forced labor as punishment for crime.
2. Very little work while done during incarceration translates to future employment. 3. The majority of reports on conditions of labor within prisons point to themes of poor working conditions and exploitative pay. |
Do we really have power as shareholders?1. Shareholder resolutions can be filed to address issues of concern within a company. They are then presented to all shareholders and voted on, often leading to change.
2. These resolutions can be filed by any shareholder holding at least $2,000 of stock for at least one year. 3. The individual and combined influence of US universities in presenting these issues will be more than sufficient to create change. |