Tesla removed from the S&P 500 ESG index

[CyberGus]

The S&P 500 ESG index is designed to measure the performance of securities meeting sustainability criteria, of which Tesla was formerly a member. Why were they removed? Because, reasons. Primary reasons cited were a)workforce discrimination and b)autopilot incidents.

https://www.indexologyblog.com/2022/05/17/the-rebalancing-act-of-the-sp-500-esg-index/

So, which socially-conscious companies made the "sustainability" cut? Hint: #9 is Exxon-Mobile.

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[CyberGus]

 

[Ogre]

...Tesla (ticker: TSLA), a company that CEO Elon Musk says he founded to put the world on a path to a sustainable-energy future, doesn't have a comprehensive low-carbon strategy

Eliminating carbon is literally part of their mission.

Apparently Tesla is being punished because they were low-carbon from go so they don’t have a detailed list of places where they can reduce carbon.

 

[Cybertruckee]

Must not be just sustainability, it's workforce discrimination for which there are judgements against Tesla, plus sexism -- and among stockholders complaints where the initiative won but Tesla is dragging it's feet to implement.

 

[Crissa]

Must not be just sustainability, it's workforce discrimination for which there are judgements against Tesla, plus sexism -- and among stockholders complaints where the initiative won but Tesla is dragging it's feet to implement.

Either way, neither of those things do Tesla score below established car makers.

That's pretty scummy, honestly.

-Crissa

 

[SAVFPV]

Big boys are hurting really bad and the low punches keep coming.

 

[Crissa]

Big boys are hurting really bad and the low punches keep coming.

I wouldn't normally agree to conspiratory thinking, but it seems so.

-Crissa

 

[Ogre]

Must not be just sustainability, it's workforce discrimination for which there are judgements against Tesla, plus sexism -- and among stockholders complaints where the initiative won but Tesla is dragging it's feet to implement.

Most of the workforce discrimination suits were older I thought.

I would be concerned if there were new ones cropping up.

 

[firsttruck]

Must not be just sustainability, it's workforce discrimination for which there are judgements against Tesla, plus sexism -- and among stockholders complaints where the initiative won but Tesla is dragging it's feet to implement.

ESG ranking agency is bullshit. They had ExxonMobil higher than Tesla before removing Tesla.

They are claiming that ExxonMobil who has locations in middle-east (and in specific Saudi Arabia) has less workforce discrimination & sexism! Middle-East where there is literally slave labor (foreign workers passports are seized), be-headings, execute/torture journalists, execute/torture critics, home to most 911 terrorists, and women have no rights (as well as being sex slaves) is OK.

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Saudi Arabia| ExxonMobil
https://corporate.exxonmobil.com/locations/saudi-arabia

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[CyberGus]

Yeah, I'm starting to realize that the ESG ranking is a way for Wall Street to whitewash the reputations of bad actors by letting them "show improvement".

Tesla should need to start trafficking underage minorities and targeting child pedestrians with FSD before it could get pushed off the #1 spot.

 

[firsttruck]

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Demographics of Saudi Arabia
https://en.wikipedia.org/wiki/Demographics_of_Saudi_Arabia

.....
Saudi Arabia is the fourth largest state in the Arab world, with a reported population of 35,013,414 as of 2018. 38.3% of inhabitants are immigrants.

.....
What percentage of Saudi Arabia are citizens?
more than 30% of Saudi Arabia's population are non-citizens According to a random survey, most non-citizens living in Saudi Arabia come from the Subcontinent and Arab countries.

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Saudi Arabia: Migrants Held in Inhuman, Degrading Conditions Detained Migrants Allege Torture, Killing in Detention, Fears of Covid-19
15 dic 2020
https://www.hrw.org/news/2020/12/15/saudi-arabia-migrants-held-inhuman-degrading-conditions

.....
An October 2020 report estimated that there are approximately 10 million foreign workers in Saudi Arabia (native citizens 23 million), spread over most sectors of work, especially the energy and service sector

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Saudi Arabia: Labor Reforms Insufficient Abusive Elements Remain; Changes Exclude Domestic Workers
March 25, 2021
https://www.hrw.org/news/2021/03/25/saudi-arabia-labor-reforms-insufficient


Saudi Arabia: King Must End Slavery of Domestic Workers
The international union movement is marking the occasion of International Women’s Day by writing to King Abdullah of Saudi Arabia on behalf 1.5 million women domestic workers calling on him to support laws which give domestic workers the same rights as all other workers.
08-03-2012
https://www.ituc-csi.org/saudi-arabia-king-must-end-slavery


'The Saudis Treat Us Like Animals' 'In Kenya, I bought you. You will do what I want.' Riyadh formally abolished slavery in 1962, but migrant workers, especially women, offer shocking testimony about what it’s like to be one of Saudi Arabia’s African 'slaves'
By Sebastian Castelier, Quentin Müller
Feb. 7, 2022
https://www.haaretz.com/middle-east...T-the-saudis-treat-us-like-animals-1.10594142


Trafficked and abused: Indonesia's Middle East maid ban backfires
By Beh Lih Yi, Thomson Reuters Foundation
March 6, 2017
https://www.reuters.com/article/us-indonesia-labour-trafficking-idUSKBN16D1F6


Indonesian sex slave breaks silence
Her story starts 15 years ago, when she was just 17 years old.
But two weeks after the Arab man took her to his home in Saudi Arabia, she said the horrors began.
Finally, one day she found the gate to the house unlocked, pretended to take out the garbage, and ran away. Eventually she ended up in a shelter run by Indonesians. She thought she had been saved; little did she know that the real nightmare was about to begin. "They tricked me. I ran from a crocodile's mouth and ended up in a lion's mouth," she said.
By Arwa Damon November 19, 2009
https://edition.cnn.com/2009/WORLD/asiapcf/11/17/indonesia.sex.slave/index.html


Maid 'held hostage' for 14 years in Saudi Arabia
Story of Sri Lankan maid comes amid bitter row between Indonesia and Saudi Arabia over execution of Indonesian maid.
Jason Burke in Jeddah
22 Jun 2011
https://www.theguardian.com/world/2011/jun/22/maid-held-hostage-saudi-arabia


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[Cybertruckee]

Unfortunately, Elon has gone full right-wing troll over this and is throwing punches at nonexistent targets.




PS, social justice means 'we should treat other people with respect'. Blaming the S&P's greenwashing on social justice is like blaming children for child abuse.

-Crissa

And we still wonder why Elon is getting this bad boy, narcissistic and at-war-with-everybody ill-repute?

No one likes a bully nor a snowflake in the playground.

 

[TheLastStarfighter]

ESG including Exxon and excluding Tesla is like the UN including Saudi Arabia on the United Nations Commission on the Status of Women. I'm not shitting on Exxon or Saudi Arabia here, but let's be honest: Women's rights are not a priority of SA, and sustainability is not a priority of oil companies. The ESG is a joke.

 

[Cybertruckee]

Tesla's stockholder community is willing to give space and allowance for Elon Musk's behaviour because of his Aspergers syndrome. Aspergers syndrome is a double-edged sword, It could be channeled positively like Greta Thunberg into activism on climate change mitigation, and in Elon's case, maybe the key to his being a genius in innovations.

The worry is that he might flame out this early if the negative side becomes the dominant behaviour manifested by his over-sensitivity, uncontrolled over-reaction and paranoia.

 

[rr6013]

LOOK…Business is emulating Social — its “Likes” all the way down. This means petroleum succeeded capturing the sustainability flag, owns the narrative and holds the environmental microphone hostage. Zero-sum military-industrial politik score EXXON-MOBIL 1 TESLA 1 in perception reality TESLA is the ONLY player engaged 100% EXXON-MOBIL is still selling its carbon assets to clean-up its image.

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