Tesla stock pulled from S&P 500 ESG index over racial discrimination

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Tesla dropped out of the S&P 500 ESG index for lack of a detailed low-carbon strategy, according to S&P Dow Jones Indices. The decision should surprise investors and has the potential to have a modest impact on the company’s stock.

“Some of the factors that contributed to its 2021 ESG score were a decline in criteria level scores related to Tesla’s low carbon strategy and codes of business conduct,” wrote Maggie Dorn, Senior Director and Head of ESG Indices for Tesla. North America from S&P Dow Jones Indices.

The exclusion also came after S&P Dow Jones Indices identified allegations of racial profiling and poor working conditions at Tesla’s Fremont plant.

Another point that weighed in was the way the company handled the investigation by regulators in the US after multiple deaths and accidents involving the automaker’s self-driving vehicles.

Source: CNN Brasil

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