Home NewsStock Market News Factory discrimination, self-driving accident Tesla kicked out of the S&P 500 ESG index | Anue Juheng

Factory discrimination, self-driving accident Tesla kicked out of the S&P 500 ESG index | Anue Juheng

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Factory discrimination, self-driving accident Tesla kicked out of the S&P 500 ESG index | Anue Juheng

S&P Dow Jones Indices removed U.S. electric car leader Tesla from its closely watched S&P 500 ESG index, including allegations of race at a factory, according to multiple foreign media reports. Discrimination and the handling of self-driving car accident investigations.

Tesla has remained “fairly stable” over the past year on environmental, social and corporate governance standards, S&P Dow Jones Indices said, but it slipped in the rankings compared to its improving global peers, while Mentioned concerns about its work environment and its handling of injury investigations related to self-driving systems, as well as low-carbon policies and a code of business conduct that were also detrimental to the company.

Margaret Dorn, senior director and head of North American ESG Indices at S&P Dow Jones Indices, wrote in a blog post that while Tesla may have a role to play in getting gasoline cars off the market, from a broader ESG perspective it is lagging behind. peers.

Dorn said Tesla’s Fremont plant was negatively impacted by allegations of racial discrimination, poor factory conditions and its handling of multiple self-driving car crashes and NHTSA investigations Influence.

Ray McConville, a spokesman for S&P Dow Jones Indices, said that for any factor in the ESG score, whether it is environmental (E), social (S), corporate governance (G) disclosure is very important. Insufficient information, either publicly available or provided in a business sustainability assessment survey, can negatively impact the score. So in Tesla’s case, part of the problem is the lack of disclosure.

Tesla did not respond to this. As for the stock price, there are reports that the removal of the news has little impact on Tesla, and the decline in the stock may be caused by other reasons, such as being implicated by the decline in the main stock market indexes. Shares of Tesla (TSLA-US) were down 6.39% at the time of writing, at $713.73 per share.

Piper Sandler analyst Alexander Potter cut his price target on Tesla to $1,035 a share from $1,260 a share.

In addition, Berkshire Hathaway (BRK.A-US), Johnson & Johnson (JNJ-US) and Meta (FB-US), run by Buffett, are also large companies that are not included in the ESG index.

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