HSBC and Deutsche Bank refuse to publicly end their financial ties with
Trump's favourite prison company Geo Group.

Call on banks to cut off private prisons now.

[ [link removed] ] Sign the petition 

   
John,

Geo Group, Donald Trump's favourite private prison company, helped build
his concentration camps along the Mexican-US border where kids were
separated from their parents. In Australia and the UK, courts have found
Geo Group responsible for deaths in its prisons.

Almost all banks in the world, including JP Morgan and BNP, have publicly
stated that they would no longer loan money to private prison companies.
This has cost Geo Group roughly one billion dollars in loans and its stock
price to plummet. 

Geo Group has a 900 million dollar loan due in a couple of months so we
are calling on the two biggest global banks that have been silent on their
ties to private prisons, HSBC and Deutsche Bank, to promise they will end
financial ties with Geo Group now.

[ [link removed] ]Call on HSBC and Deutsche Bank to publicly state that they will stop
financing private prisons now.

Having financial ties with private prison corporations means that banks
are profiting off corporations that separate families, abuse migrants, and
kill prisoners.

That's why the decade of work to push Bank of America, TD Bank, Wells
Fargo, and numerous pension funds around the world to end financial ties
with notorious prison companies is so important.

But two banks with previous financial ties with Geo have stayed silent --
European banking giants HSBC and Deutsche Bank.

More than 70,000 Ekō members like you have called on HSBC and Deutsche
Bank to end financial ties with Geo. And the bank is feeling the pressure
– a formal human rights complaint was just filed at the Organization for
Economic Cooperation and Development (OECD) against HSBC for its
investment to Geo Group and CoreCivic. You can help pile on the pressure:

[ [link removed] ]Sign the petition calling on HSBC and Deutsche Bank to publicly state
they will not have financial ties with private prisons now.

We know that when we call on financial institutions to stop financing
private prison companies such as Geo Group, they listen. In 2020, Ekō
members helped launch a campaign calling on TD Bank to divest from Geo
Group. And within 24 hours, TD recommited to never invest in Geo again.

And through the pressure of tens of thousands of Ekō members, including
hundreds who showed up at Canada Pension Fund’s public events, we forced
the giant 300 billion dollar pension to stop its investment in Geo Group.

2024 could spell the end of the US prison industrial complex. US President
Joe Biden could keep his campaign promise to end for-profit immigration
detention in the last year of his current term. And if we can cut off the
money to Geo Group, it could be the final blow to its current business
model. But only if we take action now.

[ [link removed] ]Stop financing private prisons now.



[ [link removed] ] Sign the petition 



Thanks for all that you do,
Angus and the team at Ekō


More information:

[ [link removed] ]Civil society groups file OECD complaint against Swiss and UK banks
over private prison stock
BankTrack. 16 January 2024.

[ [link removed] ]HSBC's Financial Ties to Human Rights Violations in US Immigration
Detention Facilities run by CoreCivic and Geo Group
BankTrack. 20 May 2022.

[ [link removed] ]Private prison companies move to cut debt as activists hit home
Financial Times. 8 August 2020.

[ [link removed] ]Why big banks could be killing private prisons
CNBC. 2 January 2020.

[ [link removed] ]BNP Paribas backs away from U.S. private prison industry
Reuters. 13 July 2019.

[ [link removed] ]Barclays Is Latest to Cut Finance Ties With Private Prisons
Bloomberg. 13 July 2019.

[ [link removed] ]Geo Group Runs out of Creditors as 100% of its banking partners says no
to private prisons
Forbes. 30 September 2019.

 

 

Ekō is a worldwide movement of people like you, working together to hold corporations accountable for their actions and forge a new, sustainable path for our global economy.

Please help keep Ekō strong by chipping in $3. [link removed]