Tesla is one of the big names bumped from the S&P 500 ESG Index
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S&P Dow Jones Indices dropped Tesla (NASDAQ:TSLA) from the S&P 500 ESG Index. While Tesla's score on environmental, social and governance standards has remained "fairly stable" over the past year, it has slipped down the rankings against other global peers that saw their ESG scores improve.
S&P's breakdown: "A few of the factors contributing to its 2021 S&P DJI ESG Score were a decline in criteria level scores related to Teslaâs (lack of) low carbon strategy and codes of business conduct. In addition, a Media and Stakeholder Analysis, a process that seeks to identify a companyâs current and potential future exposure to risks stemming from its involvement in a controversial incident, identified two separate events centered around claims of racial discrimination and poor working conditions at Teslaâs Fremont factory, as well as its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles."
Tesla (TSLA) was not singled out by itself with Home Depot, Meta Platforms, Accenture, Wells Fargo and Berkshire Hathaway some of the other big names left out of the S&P 500 ESG Index after the re-balancing.
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