The CFAP Sustainable Investing Thought Leadership Group provides a forum to advance the dialogue regarding the role of sustainable investing in today's capital markets and beyond. In particular, the group directs its attention to furthering an understanding and clarifying the risks and opportunities linked to environmental, social and governance issues.
This month, Chris Bentley, Founder and Managing Director of the DECarceration Fund, and Julie Goodridge, Chief Executive Officer NorthStar Asset Management, will present on the effects of prison labor in the United States on your clients' investment portfolios.
Prison labor is enabled in the United States by the 13th amendment of the U.S. Constitution which prohibits slavery "except as a punishment for crime." Over 2.2 million individuals are incarcerated in state, federal, and private prisons in the United States, and nearly all able-bodied inmates work in some fashion. While many inmates are employed in maintenance of the prison, a significant number of inmates work to produce goods or perform services for private companies, nonprofit organizations, and state or federal agencies that partner with prisons.
More than 4,000 corporations profit from mass incarceration through predatory pricing, use of prison labor, and the private prison industry. Chris and Julie will discuss how to better understand this supply chain risk and provide practical steps that shareholders and companies can take in order to pursue solutions.
If you have any questions regarding becoming part of the Sustainable Investing Thought Leadership Group, contact CFAP member Michael Cosack at firstname.lastname@example.org