Tesla CEO Elon Musk looks far from happy after the company was expelled from the S&P 500 Index of Environmental and Corporate Governance.
S&P Dow Jones Indices has chosen to pull electric car maker Tesla out of the S&P 500 ESG Index. It comes out in one blog posts From the company.
Tesla is said to have had a “relatively stable” score on the ESG over the past year, but similar companies in the group for auto and parts have improved.
The index provider also highlights concerns about working conditions and the company’s handling of the US Transportation Administration’s (NHTSA) investigation into accidents related to its driving assistance systems.
The head of ESG Index, Margaret Dorn, wrote in the blog post that while Tesla “might play” a role in driving out fuel-powered cars, the company has fallen behind its competitors when they are scrutinized more broadly.
Not only can you take a company’s self-advertisement for good fish, you have to look at their actions across all of these dimensions, Dorn says in an interview with Reuters.
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Tesla CEO Elon Musk took to Twitter to comment on the ban. There he seems to be not happy with anything.
Exxon ranked the world’s top 10 on ESG’s S&P 500 list, while Tesla didn’t make it onto the list! ESG is a scam. He writes that she was armed by pseudo-fighters for social justice musk.
– S&P Global Ratings has lost its integrity, continue in a new tweet.
In another tweet, Musk wrote that “political attacks on me will escalate significantly in the coming months,” without directly relating to the ESG.
Shortly thereafter, I follow him up with a classic “meme” to tell us what he thinks about the eviction:
Apple’s largest company on the ESG index
The decision to get Tesla off the list means that fund managers will typically pull out of the company, if they follow the benchmark. According to the S&P Dow Jones website, the index follows at least 16 listed funds Bloomberg.
In addition to Tesla, large companies such as the owner of Facebook Meta, drug group Johnson & Johnson and Berkshire Hathaway group have been left out of the index in connection with this year’s review.
Apple is the largest company in the index.
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