Investors who would like to invest their money in shares of sustainable companies can use the ESG index in the USA as a guide. However, the electric car manufacturer Tesla is no longer listed there.
The electric car manufacturer Tesla is from the stock index S
In a tweet on Wednesday, the Tesla boss described the ESG investment category as “fraud” and accused the index provider of having lost its integrity.
ESG is the English abbreviation for Environmental, Social, and Governance – under this label, the financial industry offers investments in which criteria such as the environment, social issues and good corporate governance are to be given greater consideration.
S
Sustainability ranking nevertheless stable
These included allegations of racism and complaints about poor working conditions in Tesla’s US car factory and the handling of investigations into accidents, some of which were fatal, in connection with the “Autopilot” driving assistant, explained S
Musk vented his anger on Twitter that the largest US oil company, ExxonMobil, was bought by S
ESG financial products have been criticized for some time. Common accusations from experts are, for example, that the market is not sufficiently regulated and that the label is more of a sales aid for the financial industry. Due to a lack of clear and uniform definitions of what actually counts as a sustainable investment, there is sometimes a suspicion of “greenwashing” in the corresponding investment funds, for example.
