The New Divestment Movement
After nearly two years of student organizing, Columbia University divested from the private prison industry this week.
On Monday, student organizers announced that Columbia University’s board of trustees had voted to divest from the private prison industry, a victory for the nearly two-year campaign led by the student group Columbia Prison Divest.
The vote mandates that the university sell its 220,000 shares in G4s, a British prison and security services company that operates prisons across the world and provides equipment for Israeli-run checkpoints in occupied Palestine. Furthermore, Columbia has pledged never to invest its $8 billion–plus endowment in other private prison corporations like Corrections Corporation of America in which, according to student estimates, the school had $8 million worth of shares as of June 2013.
These investments, it should be said, are a drop in the bucket for an industry that brings in roughly $3 billion in revenue annually by operating prisons, jails, and holding facilities for undocumented immigrants. Students argue their campaign was not intended to make a huge dent in the profit margins of these corporations, but instead to increase awareness of the industry, and mass incarceration more broadly.