after the electric car maker was dropped from its flagship ESG index while it added some companies whose activities are harmful to the environment, such as oil and gas producers.
Sustainable investing - taking into account ESG factors in portfolio selection - has exploded in recent years, reaching $35.3 trillion by the start of 2020, according to the Global Sustainable Investment Alliance. Some, like Musk, believe the ratings should reward companies that do the most for the planet and society. Others, including firms like S&P that produce the scores, say they are meant to show how much risk a company's stock faces from ESG factors., are allowed to stay in an ESG index if they can show they are taking actions to reduce that risk.
Mark Tinker, chief investment officer at Toscafund Hong Kong, said Musk "rightly pointed out" that societal and corporate governance considerations are being used "for political driven cancelling" and that a company's contribution to the environment can also "mean what you want it to."Tesla did not respond to a request for comment on behalf of the company or Musk.
ESG is a scam. Keep it out of my 401k
Who owns Reuters again? Sure thing 🤡
just because big wall street is in on it doesnt mean its not a scam...
Sounds like you’re a communist
Scam
He is spot on..
It is people using your money to force changes at private companies you might not even agree with. It’s the investors money, not the fund managers money. ESG isn’t a scam it’s theft.
Grifting of the highest order and second only to government. elonmusk is correct.
Blackrock pushing ESG while loading their ETF's with companies that have crap histories for the environment and social awareness means it's a scam.
He’s correct—it is a scam.
Exxon Mobile is in the top 10. That along signifies it’s a scam.
Reuters dying a slow death ☠️
He's not wrong
It’s a scam.
Corporate social credit system.
ESG is nothing more than elitist-Globalists infiltrating more companies and creating inflationary issues for the average person.
Woke scam