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Are the problems starting to grow? S&P 500 ESG Index Drops Tesla, Citing CEO Elon Musk’s Harsh Reaction


Tesla CEO Elon Musk’s problems are far from over. After its Twitter takeover deal appeared to have been “on hold”, the S&P Dow Jones indices omitted electric car maker Tesla Inc from its S&P 500 ESG index, according to media reports. Action appears to have been taken on several issues, such as autopilot vehicle crashes, racial discrimination claims, and more. As the S&P 500 ESG Index is widely followed, the move drew harsh responses in the form of tweets from billionaire Elon. Musk on Wednesday.

Also Read: Elon Musk Didn’t Ask About Business During Signing, Says Twitter on ‘Pending’ Deal

In a tweet, Tesla CEO Elon Musk said, “Exxon is ranked among the top ten in the world for Environmental, Social and Governance (ESG) by the S&P 500, while Tesla is not on the list ! ESG is a scam. It has been militarized. by fake social justice warriors.”

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Watch: Will Elon Musk back out of the Twitter deal?

While welcoming the decision, Margaret Dorn, head of environmental, social and governance (ESG) indexes for North America at S&P Dow Jones Indices (S&P DJI), said in an interview with a media outlet that the changes had been made while Tesla has also not released details of its low-carbon strategy or codes of business conduct.

“You can’t just take a company’s mission statement at face value, you need to look at their practices in all key dimensions,” Dorn said.

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(With agency contributions)

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