ESG stands for Environment, Social and Governance. The companies proposed under this label obtain good results on these points.
S&P Dow Jones believes 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.
S&P analyst Margaret Dorn referenced accusations of racism and complaints about poor working conditions at Tesla’s US factories, as well as the company’s handling of crash investigations with his cars.
Musk expressed his displeasure with the decision on Twitter. “ESG is a scam,” he said. He also referred to the fact that the American oil giant ExxonMobil was ranked at the top of the list of the most sustainable companies.