Tesla removed from S&P 500's ESG index; Musk responds

, the company said current ESG reporting focuses on measuring "the dollar value of risk/return" rather than "the scope of positive impact on the world" and that individual investors may be unaware that their money may be used to buy shares in companies that make climate change worse.

"As long as a company continues to slightly decrease emissions of its manufacturing operations while churning out gas-guzzlers, its ESG ratings are likely to go up," Tesla added. "We need to create a system that measures and scrutinizes actual positive impact on our planet, so unsuspecting individual investors can choose to support companies that can make and prioritize positive change.

In addition, the report said it is "essential" that a company treats their employees well with a system in place to prevent discrimination. Dorn emphasized that the index is rebalanced annually and that Tesla would have other opportunities to be included in the future.

In other words....not supporting the 'official narrative'...a political hit job. Not that this 'ESG Index' means a whole lot...bunch of virtue signalling, nothing more.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elon Musk Goes On The Attack After Tesla Cut From S&P ESG IndexThe world’s leading maker of electric vehicles has been cut from S&P’s index for environmentally conscious investors due to flaws in its business conduct and, ironically, low-carbon strategy. DemocraticDaisy DemocraticDaisy Wow! Musk has gone full-on MAGA! He doesn't like what S&P has to say,so, of course, he whines 'It's a Scam'! How Trumpy of him!
Source: Forbes - 🏆 394. / 53 Read more »

Why Tesla Was Kicked Out of the S&P 500's ESG IndexThe S&P says it kicked Tesla off its ESG index due to the company's 'lack of a low-carbon strategy' and 'codes of business conduct,' along with racism and poor working conditions reported at its factory in Fremont. Now they’re just making up stuff to cover up their blatant bias.
Source: nbcbayarea - 🏆 596. / 51 Read more »

Nasdaq, S&P 500 drop 3% as growth stocks rally wanesThe Nasdaq and the S&P 500 dropped 3% on Wednesday as a rally in growth shares faded amid economic growth concerns, while Target plunged to the bottom of the S&P 500 after the retailer became the latest victim of surging prices.
Source: Reuters - 🏆 2. / 97 Read more »

Stocks end mostly lower, extending losing streak for S&P 500Stocks closed a wobbly day of trading mostly lower on Wall Street on Monday, extending a losing streak for markets.
Source: latimes - 🏆 11. / 82 Read more »