An anonymous reader quotes a CNBC report: The S&P 500 has excluded electric car maker Tesla from its ESG index as part of an annual list update. Meanwhile, Apple, Microsoft, Amazon and even the oil and gas multinational company Exxon Mobil were still on the list. The S&P 500 ESG uses environmental, social and government data to rank and effectively recommend companies to investors. Its criteria include hundreds of data points for each company that relate to how businesses affect the planet and relate to stakeholders other than shareholders – including customers, employees, suppliers, partners and neighbors. The changes to the index took effect on May 2, and an index spokesman explained why they were made, in a blog post published Wednesday.

It said Tesla’s “lack of a low-carbon strategy” and “codes of conduct”, as well as the racism and poor working conditions reported at Tesla’s Fremont plant in California, affected the assessment. Tesla’s handling of the National Road Safety Administration’s investigation also affected his account. “Although Tesla may be playing a role in removing off-road vehicles, it has lagged behind its counterparts when viewed through a wider ESG lens,” the S&P spokesman wrote. A CNBC report cites Tesla’s agreement with the EPA in February “after several years of violating the Clean Air Act and ignoring tracking of its own emissions.” They also mentioned last year’s index of 100 toxic air pollutants, where Tesla ranked 22nd – “worse than Exxon Mobil, which ranked 26th.”

Tesla is known to have received poor scores, “although this is not only about the environmental aspect, but also in assessments that also criticized the culture of Tesla,” – said Fred Lambert of Electrek. “ESG is not really taking into account the fact that Tesla’s entire business is linked to the world’s transition to sustainable energy, but is considering strategies to decarbonize operations.”

On Twitter, Tesla CEO Elon Musk said S&P Global Ratings “lost its integrity” and was “armed with fake warriors of social justice.”

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