Tesla Was Reinstated to S&P ESG Index, But Still Trails Tobacco Companies
“Tesla scored 37 out of a possible 100,” Barron's reported.
Reuters on Wednesday reported that Tesla has been returned to the S&P 500 ESG index, the socially conscious index operated by Standard and Poor's.
Tesla, the world’s largest producer of electric vehicles, had been kicked off the index in 2021 following allegations that it lacked “a low-carbon strategy” and had poor “codes of business conduct,” in addition to other charges, prompting Elon Musk to tweet , “ESG is a scam.”
A spokesperson for Standard and Poor's told Reuters that Tesla fared better in 2023, "especially on environmental factors, which are material for a company in the automobiles industry." But as Barron’s reported, Tesla’s ESG scores on average remain low, trailing many oil and tobacco companies.
“Tesla scored 37 out of a possible 100,” reported Al Root, referring to the S&P Global ESG scores updated in May.
That is six points lower than Chevron, the second-largest oil company in America. Tobacco companies, meanwhile, are doing even better.
S & P, ESG....who truly gives a rap about this idiotic BS? Certainly not I, nor most intelligent folks.
It would be better if Musk simply asked to be removed from the ESG list, regardless of whatever score they get. ESG sucks.