On May 19, Beijing time, an executive from S & P Dow Jones Indexes told the media that they had removed Tesla from the S & P 500 ESG index because of racial discrimination and Tesla crash Musk was angry about this. He tweeted that ESG was a scam
In this adjustment, twitter and Phillips 66 are added to the index. In addition to Tesla, companies such as Delta Airlines and Chevron are also excluded. ESG index focuses on the performance of enterprises in environmental protection (E), social responsibility (s) and corporate governance (g).
Margaret Dorn, head of the standard & Poor's Dow Jones 500 ESG index, believes that Tesla did not publish detailed details on carbon emission strategy, business code of conduct and other issues, plus some other issues, so Tesla was excluded. Dorn also said that although Tesla products can indeed help the earth fight the greenhouse effect, Tesla has many problems. Compared with its peers, Tesla also has reservations about disclosure. If investors pay attention to the ESG performance of enterprises, they should be vigilant against Tesla.
"You can't just look at the surface value of an enterprise's mission statement. You should look at the actual actions of the enterprise from multiple key dimensions," Dorn said
Tesla has previously publicly claimed that ESG has essential defects in "methodology". Musk criticized that ExxonMobil was rated as the top 10 by ESG, but Tesla was not on the list. ESG is a scam, which has been turned into a weapon by hypocritical social justice warriors.
In response, the representative of S & P Dow Jones index responded that Musk's list should be a list of the 10 companies with the highest market value in the S & P 500 ESG index after excluding Tesla and some other companies, but the ESG score is not based on the market value.
At present, ExxonMobil has a weight of 1.443% in the index, and [Apple] has the highest proportion( https://apple.pvxt.net/c/1251234/435400/7639?u=https%3A%2F%2Fwww.apple.com%2Fcn%2Fmusic%2F ) , it accounted for 9.657%.
Some investors are concerned about issues such as diversity and climate change. They invest huge amounts of money in funds that select stocks according to ESG standards. These investors are worried. For example, some problems should have been solved by policies. Can the fund urge enterprises to solve these problems effectively? Or has the fund put too much pressure on enterprises on these issues?
Since April 22, the standard & Poor's Dow Jones index has published a series of articles on adjustment and change. Dorn explained at that time that the goal of the ESG index was to keep the weight of various industries at the same level as the conventional S & P 500 index, so as to make the index sustainable as a whole. For this reason, in the process of operation, the ESG index will leave some oil companies, but keep meta and Wells Fargo out of the door.
Dorn further said that Tesla's ESG score this year was slightly lower than last year, with a score of 22 last year. At the same time, the scores of some other automobile enterprises have improved. The ESG index has a rule to eliminate the worst performing quarter, and other companies have pushed Tesla down in the automotive industry.