Tesla boss Elon Musk expressed his displeasure on Twitter on Wednesday after the company was removed from the S&P 500 ESG Index.
The S&P Dow Jones Indices, one of the market’s leading index providers, removed electric car maker Tesla from its S&P 500 ESG indexdue to racial discrimination claims against the company and its handling of a government investigation after crashes related to its self-driving vehicles.
Furious, the boss of Tesla, Elon Muskspoke on Twitter on Wednesday, calling ESG a “scam”. He also lamented that US oil giant ExxonMobil topped the list of most sustainable companies, “while Tesla does more for the environment than any other company!”
We can once again wondering about the billionaire’s intentions, which we know is particularly passionate about bitcoin, while it is a vector of CO2 emissions – emissions that Elon Musk says he wants to limit. If the index is, as he claims, a “scam”, why complain about being excluded from it?
Lack of details
The ESG Index – which stands for Environment, Social and Governance – only includes stocks of sustainable companies. As part of the changes to the S&P Dow Jones Indices, which took effect on May 2, the sustainability index has also added to his Twitter listsoon to be controlled by Elon Musk, and the oil refiner Phillips 66, while dropping Delta Air Lines and Chevron Corpaccording to a statement sent on Wednesday.
S&P Dow Jones says 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, head of ESG indices for North America at S&P Dow Jones Indices, mentioned in an interview, the fact that Tesla has no not released details of its carbon reduction strategy or its codes of conduct.