According to news reports, "Tesla CEO Elon Musk blasted ESG investing as a 'a scam' after his electric vehicle company was booted from a top index of socially responsible companies over labor practice concerns. " Musk also stated that "that Standard and Poors.. lost its 'credibility' by pulling Tesla from its index of companies that meet environmental, social and governance (ESG) criteria, while leaving oil giant #exxonmobil on the list. " He is, of course, correct. S&P was fined $1.5 billion for falsifying mortgage security ratings in the years leading up to the 2008 financial crisis. Their credibility, such as it is, has been available for purchase for decades. We know what they are. Mr. Musk's complaints are driven by self interest, however, not by concern for the well being of society. As such, his concerns are as invalid as S&P's ESG ratings. Note that this does not mean S&P is wrong about Tesla. ESG data is easily manipul...
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