Tesla, the world’s leading maker of electric vehicles, has been cut from S&P’s ESG Index created for environmentally conscious investors owing to flaws in its business conduct and, ironically, aspects of the company’s low-carbon strategy.
Tesla “was pushed further down the ranks relative to its global industry group peers” that made improvements in their operations and due to “Tesla’s low carbon strategy and codes of business conduct,” Dorn said. The company was also faulted for “two separate events centered around claims of racial discrimination and poor working conditions at Tesla’s Fremont factory, as well as its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles.
“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.”From Tesla’s earliest days Musk committed the company to lead a revolution in clean transportation and power, and no manufacturer has done more to push the auto industry to shift to electric vehicles from carbon-fueled cars and trucks.
alanohnsman What happens in a 2nd fed tightening folks....auto industry gets sold off...and Tesla is not in energy sector, tech sector, it´s in consumer cyclical. It´s not really any science or art, to know it was far too risky, exploding on stimulus while people locked at home on youtube
alanohnsman Exxon is in, but Telsa out? Kind of reminds me when Saudi Arabia was included in the UN's Human Rights Commission.
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.
Source: Forbes - 🏆 394. / 53 Read more »