“Other factors that have contributed to the exclusion of the carmaker from the index is the lack of published information regarding its strategy to reduce its carbon footprint or code of business conduct,” she said. Reuters Margaret Dorn of S&P Dow Jones Indices, which compiles the ESG index. Tesla’s securities fell sharply on Wednesday and with the entire US stock exchange. They weakened by almost seven percent to $ 709.81 apiece.
Tesla boss Elon Musk responded to the verdict with very irritating statements and questioned the very meaning of the index. S The S&P 500 included Exxon (American oil giant – note red.) among the ten best companies in the world that care about the environment and Tesla will not even get into the rankings! ESG is a scam used as a weapon by hypocritical fighters for social justice, “wrote controversial billionaire on Twitter.
Who is Elon Musk?
Tesla is famous for its emphasis on ecology. It has popularized electric cars and is investing heavily in the development of alternative energy sources. However, according to Dorn, a company cannot be assessed solely on the basis of its program statement. “You have to look at his actions across all key aspects,” says Dorn.
Tesla has faced several allegations by former African-American employees in recent years. They claim that they were exposed to bullying and racist remarks by their superiors while working in the carmaker’s plants. The affair has escalated significantly in February this yearwhen the company sued the California government organization DFEH for the same reason.
The carmakers did not comment on the exclusion from the ESG index. However, the company has long criticized the methods used by S&P Dow Jones Indices to evaluate the companies included in the index. The largest companies in the ranking are technology giants Apple, Amazon or Microsoft. However, the aforementioned miner ExxonMobil is not missing on it either.
At the beginning of May, the oil company Phillips 66 and the social network Twitter, whose majority owner is to become Musk in the near future, were added to the list. On the contrary, the mining corporation Chevron and Delta Air Lines dropped out of it.