Elon Musk furious at Tesla's disappearance from sustainability index
Sylvie Claire / May 19, 2022
Tesla founder Tesla founder Elon Musk is furious that the automaker was excluded from the index, which only includes stocks of sustainable companies.
ESG stands for Environment, Social and Governance. The companies proposed under this label score well on these points.
S&P Dow Jones believes there are many reasons not to include Tesla in its ESG index, even though the company itself says it wants to help the world accelerate the transition to sustainable energy.
Margaret Dorn, an analyst at S&P, referred to accusations of racism and complaints about poor working conditions at Tesla's U.S. factories, as well as the company's handling of investigations into accidents with its cars.
Musk expressed his displeasure with the decision on Twitter. ESG is a scam, he said. He also referred to the fact that U.S. oil giant ExxonMobil topped the list of most sustainable companies.