Elon Musk's Tesla has been removed from the ESG version of the S&P 500 index, leading the founder and entrepreneur to state "ESG is a scam". In a 17 May blog post on the S&P website posted by Margaret Dorn, head of ESG indices for North America, the company explained the index has undergone its fourth rebalance. She stated Tesla was "ineligible for index inclusion" as its ESG score, as calculated by the group, had fallen to the bottom 25% of its peer group. S&P noted the sector the company sits in, automobiles and components, had experienced an "overall increase" in its average ES...
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