The world’s leading maker of electric vehicles has been cut from S&P’s index for environmentally conscious investors due to flaws in its business conduct and, ironically, low-carbon strategy.
Tesla, the world’s leading maker of electric vehicles, has been cut from S&P’s ESG Index created for environmentally conscious investors owing to flaws in its business conduct and, ironically, aspects of the company’s low-carbon strategy.
Tesla “was pushed further down the ranks relative to its global industry group peers” that made improvements in their operations and due to “Tesla’s low carbon strategy and codes of business conduct,” Dorn said. The company was also faulted for “two separate events centered around claims of racial discrimination and poor working conditions at Tesla’s Fremont factory, as well as its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles.
“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.”From Tesla’s earliest days Musk committed the company to lead a revolution in clean transportation and power and no manufacturer has done more to push the auto industry to shift to electric vehicles from carbon-fueled cars and trucks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Tesla Was Kicked Out of the S&P 500's ESG IndexThe S&P says it kicked Tesla off its ESG index due to the company's 'lack of a low-carbon strategy' and 'codes of business conduct,' along with racism and poor working conditions reported at its factory in Fremont.
Read more »
Elon Musk sends poop emoji to Twitter CEO in response to thread on spam, fake accountsElon Musk sends bizarre emoji to Twitter CEO in response to thread on spam, fake accounts
Read more »
Elon Musk on housing market bubble: 'They dug their own graves'Tesla CEO Elon Musk recently added the housing market into the mix of his Twitter commentary.
Read more »
Elon Musk: US Economy Is Probably in Recession That Could Last 18 Months — Warns It 'Will Get Worse' – Economics Bitcoin NewsTesla and Spacex CEO Elon Musk says that the U.S. economy is probably in a recession and it could be 'tough going' for 12 to 18 months.
Read more »
Elon Musk sets condition for Twitter purchase to go forwardTesla CEO Elon Musk set a key condition for his pending $44 billion purchase of Twitter to go through: transparency on the number of fake or spam accounts.
Read more »
Musk Considered Launching His Own Social Network App Before Twitter BidIn the end, Elon Musk decided to go with a buyout.
Read more »