Press "Enter" to skip to content

Elon Musk calls S&P 500 ESG Index ‘a rip-off’ after Tesla will get kicked off listing

In a collection of tweets, Tesla CEO Elon Musk expressed his displeasure and mentioned political assaults on him would escalate in coming months

File picture of Elon Musk. AFP

Elon Musk lambasted S&P Global Ratings and mentioned it has “lost its integrity” after Tesla misplaced its spot from the Environment, Social and Governance (ESG) 500 index.

S&P Global index tracks corporations on their environmental, social and governance requirements. The Tesla CEO mentioned, “ESG is a scam. It has been weaponized by phony social justice warriors.”

He additional mentioned, “Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn’t make the list!”

Expressing his displeasure, Musk in a collection of tweets, mentioned “political attacks” on him would “escalate dramatically in coming months.”

Musk additionally mentioned that regardless of Tesla “doing more for the environment than any other company ever,” it has been faraway from S&P world index.

At the start of this week, S&P Global Ratings introduced elimination of the biggest producer of electrical automobiles from the sustainability listing citing considerations associated to working circumstances at Tesla amongst its causes.

S&P defined the explanations in a weblog and citied accusations of racial discrimination and poor working circumstances at Tesla’s California manufacturing unit and the automotive maker’s dealing with of federal investigations of crashes involving its autopilot characteristic.

S&P Dow Jones Indices’ ESG chief Margaret Dorn mentioned, “While Tesla may be playing its part in taking fuel-powered cars off the road, it has fallen behind its peers when examined through a wider ESG lens.”

As per the announcement, in it adjustments, efficient 2 May, the sustainability index added Twitter Inc and oil refiner Phillips 66, whereas dropped Delta Air Lines and Chevron Corp.

According to Barron’s, almost $65 billion is listed or benchmarked to the S&P ESG index, in comparison with greater than $13 trillion for the general S&P 500 — which incorporates Tesla.

With inputs from businesses

Read all of the Latest News, Trending NewsCricket News, Bollywood News,
India News and Entertainment News right here. Follow us on Facebook, Twitter and Instagram.

Be First to Comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    %d bloggers like this: