To: Larry D. Zimpleman, Chief Executive Officer
The Principal Financial Group supports private prisons?
For years, the Principal Financial Group has heavily supported the shameful private prison industry, investing more than $100 million dollars to finance companies that profit from widespread human rights abuses and deeply unethical business practices.
With enough public pressure, we have a real chance at ending the Principal's support for the shameful private prison industry—setting off a domino effect across the financial sector. The Principal must divest and end its support for private prisons immediately.
With enough public pressure, we have a real chance at ending the Principal's support for the shameful private prison industry—setting off a domino effect across the financial sector. The Principal must divest and end its support for private prisons immediately.
Why is this important?
An awareness of and opposition to private prisons is growing. States and companies previously invested are recognizing the uniquely devastating impacts of private prisons and choosing to disassociate completely. But The Principal Financial Group — a company that leverages its brand as one of the "most ethical companies in the world," committed to the well-being of the employees and communities it serves — continues to support an industry that profits from confining mostly Black and brown people in some of the most dangerous and abusive conditions in the country.