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Toxic Alabama Private Prison Deal Falling Apart With Barclays Exit

Toxic Alabama Private Prison Deal Falling Apart With Barclays Exit
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Barclays s Derailed Prison Bond Deal Shows Growing Might of ESG

Barclays’s Derailed Prison Bond Deal Shows Growing Might of ESG Bloomberg 2 hrs ago Amanda Albright and Danielle Moran © Bloomberg The Barclays Plc headquarters sits in the Canary Wharf business, financial and shopping district of London, U.K., on Wednesday, Oct. 28, 2015. In its monthly consumer confidence index, GfK said a measure of Britons outlook for the economy over the next 12 months dropped to minus 4 in October, the lowest reading this year. (Bloomberg) The first sign of trouble came last week: A small group of investors circulated a letter lambasting Barclays Plc for helping to raise hundreds of millions of dollars to build two privately owned prisons in Alabama two years after the bank publicly vowed to cut financing ties with the for-profit industry.

Barclays Kicked Out of Business Group Over Prison-Bond Work

Barclays Kicked Out of Business Group Over Prison-Bond Work Bloomberg 1 hr ago © Photographer: David Paul Morris/Bloomberg An inmate in his cell (Bloomberg) Barclays Plc’s membership in the American Sustainable Business Council was terminated by the advocacy group over the bank’s decision to underwrite a municipal bond for two Alabama prisons owned by CoreCivic Inc., two years after saying it would no longer provide new financing to private prison companies. Popular Searches The council and partner organization Social Venture Circle, which combined represent 250,000 businesses to advocate for responsible practices and policies, announced Thursday they would refund Barclays’ membership dues. Barclays joined the group in 2019.

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