Cathie Wood slams Tesla's removal from S&P 500 ESG index: 'Ridiculous' - New York Post
May 19, 2022 57 secs

Ark Invest founder and noted Tesla bull Cathie Wood has joined company boss Elon Musk in slamming the S&P 500’s decision to remove the electric car maker from its stock index tracking the most sustainable and socially conscious companies. .

Tesla was the largest company to be excluded from the S&P 500 ESG index based on its weight of its shares relative to the index’s overall value!

In a blog post, an S&P 500 executive noted that Tesla fell off the list due to issues with elements of its business, including lack of a low-carbon strategy and concerns about its internal practices.

“Both of these events had a negative impact on the company’s S&P DJI ESG Score at the criteria level, and subsequently its overall score,” Dorn said.

The decision drew a scathing response from Musk, who blamed Tesla’s exclusion on what he described as “phony social justice warriors” and said the S&P had “lost its integrity.”.

“Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn’t make the list.

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