The Clap
Tesla was removed from the S&P’s annually updated environmental, social, & governance (ESG) index.
Claps Class
The S&P 500 ESG Index uses environmental, social, and governance data to rank & recommend companies to investors. It assesses the way businesses affect the planet & treat stakeholders, not just shareholders. This includes customers, employees, & neighbors.
S&P’s perspective
“While Tesla may be playing its part in taking fuel-powered cars off the road, it has fallen behind its peers when examined through a wider ESG lens”, an S&P spokesperson said.
Elon Musk’s perspective
Tesla CEO Elon Musk responded in typical Elon Musk fashion: on Twitter. On Wednesday the world’s richest man slammed S&P Global, claiming they’ve “lost their integrity.”
