{"id":1484443,"date":"2022-05-19T13:45:12","date_gmt":"2022-05-19T17:45:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1484443"},"modified":"2022-05-19T13:45:32","modified_gmt":"2022-05-19T17:45:32","slug":"sp-drops-tesla-from-environmental-social-and-governance-index-keeps-exxonmobil","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sp-drops-tesla-from-environmental-social-and-governance-index-keeps-exxonmobil\/","title":{"rendered":"S&#038;P Drops Tesla From \u201cEnvironmental, Social, and Governance\u201d Index \u2013 Keeps ExxonMobil"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsp-drops-tesla-from-environmental-social-and-governance-index-keeps-exxonmobil%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1484443&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The New GOP voter says environmental, social, and governance scoring has been weaponized<\/p>\n<div>\n<p><a href=\"https:\/\/www.theepochtimes.com\/t-elon-musk\">Elon Musk<\/a> called the environmental, social, and governance (<a href=\"https:\/\/www.theepochtimes.com\/t-esg\">ESG<\/a>) scoring \u201ca scam\u201d in a series of Twitter posts on May 18, citing S&#038;P Global\u2019s inclusion of ExxonMobil Corporation in its ESG Index while his own electric car company, Tesla Motors, was removed.<\/p>\n<p>\u201cExxon is rated top ten best in world for environment, social &#038; governance (ESG) by S&#038;P 500, while Tesla didn\u2019t make the list! ESG is a scam. It has been weaponized by phony social justice warriors,\u201d Musk <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1526958110023245829\">wrote<\/a>.<\/p>\n<p>In subsequent Twitter posts, Musk claimed that Tesla has done \u201cmore for the environment than any company ever\u201d and asserted that S&#038;P Global \u201chas lost their integrity.\u201d<\/p>\n<p>The comments come in the midst of Musk\u2019s fight to acquire Twitter and shortly before Musk <a href=\"https:\/\/www.theepochtimes.com\/elon-musk-says-hes-voting-republican-in-upcoming-elections_4473539.html?utm_source=ai&#038;utm_medium=search\">again<\/a> <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1526997132858822658\">announced<\/a>\u00a0that he planned to switch his vote from Democrat to Republican.<\/p>\n<figure id=\"attachment_4353606\" class=\"wp-caption aligncenter\"><figcaption class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-4353606\" src=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/03\/2.tagreuters.com2022binary_LYNXNPEI2L086-FILEDIMAGE-600x331.jpg\" alt=\"Epoch Times Photo\" width=\"600\" height=\"331\" \/><\/noscript> Tesla cars are seen parked at the construction site of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, on March 20, 2022. (REUTERS\/Hannibal Hanschke)<\/figcaption><\/figure>\n<p>\u201cIn the past I voted Democrat, because they were (mostly) the kindness party. But they have become the party of division &#038; hate, so I can no longer support them and will vote Republican. Now, watch their dirty tricks campaign against me unfold,\u201d he wrote.<\/p>\n<p>A spokesperson for S&#038;P Dow Jones Indices (DJI) told The Epoch Times that ExxonMobil wasn\u2019t ranked among the \u201ctop ten best in the world\u201d on ESG by S&#038;P. In actuality, ExxonMobil was highlighted in a May 17 blog post on S&#038;P\u2019s ESG index because it\u2019s among the 10 largest companies in that index by market capitalization.<\/p>\n<p>In that <a href=\"https:\/\/www.indexologyblog.com\/2022\/05\/17\/the-rebalancing-act-of-the-sp-500-esg-index\/\">blog post<\/a>, S&#038;P DJI\u2019s Margaret Dorn attributed the removal of Tesla to its relative decline in the Automobiles &#038; Components sector, as well as the absence of a carbon strategy, its codes of business conduct, and allegations of widespread racism at Tesla\u2019s Fremont, California, factory.<\/p>\n<p>Dorn also cited Tesla\u2019s \u201chandling\u201d of an investigation into Tesla\u2019s phantom braking problem, which was announced by the National Highway Traffic Safety Administration (NHTSA) in April.<\/p>\n<p>\u201cWhile Tesla may be playing its part in taking fuel-powered cars off the road, it has fallen behind its peers when examined through a wider ESG lens,\u201d wrote Dorn, who serves as senior director and head of ESG Indices, North America, for S&#038;P DJI.<\/p>\n<p>Tesla\u2019s removal also comes after Musk and other Silicon Valley billionaires have publicly criticized the ESG concept on various grounds.<\/p>\n<figure id=\"attachment_4457745\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"lazy size-medium wp-image-4457745\" src=\"https:\/\/www.theepochtimes.com\/assets\/themes\/eet\/images\/white.png\" data-src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/05\/Stock-AP22125725001820-600x400-1.jpg\" alt=\"New York Stock Exchange\" width=\"600\" height=\"400\" \/><figcaption class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-4457745\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/05\/Stock-AP22125725001820-600x400-1.jpg\" alt=\"New York Stock Exchange\" width=\"600\" height=\"400\" \/><\/noscript> Pedestrians pass the New York Stock Exchange on May 5, 2022. (John Minchillo\/AP Photo)<\/figcaption><\/figure>\n<p>At an April Bitcoin conference in Miami, venture capitalist and prominent Republican donor Peter Thiel told the crowd that ESG is a means of exercising totalitarian control, including over the development of cryptocurrencies.<\/p>\n<p>Thiel\u2019s words came within weeks of a Biden administration executive order on cryptocurrency. That order stressed the administration\u2019s interest in a potential U.S. digital dollar, or central bank digital currency (CBDC).<\/p>\n<p>\u201cWhat\u2019s the difference between ESG and CCP\u2014the Chinese Communist Party? They are into social and governance. Environmental is sort of fake\u2014it\u2019s probably also fake in a lot of these cases. When you think ESG, you should be thinking CCP,\u201d Thiel <a href=\"https:\/\/www.theepochtimes.com\/when-you-think-esg-you-should-be-thinking-ccp-peter-thiel_4392583.html\">said<\/a>.<\/p>\n<p>Marc Andreessen, co-founder of Netscape and the venture capital firm Andreessen Horowitz, has also taken to social media to skewer the concept of ESG.<\/p>\n<figure id=\"attachment_4456285\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"lazy size-medium wp-image-4456285\" src=\"https:\/\/www.theepochtimes.com\/assets\/themes\/eet\/images\/white.png\" data-src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/05\/GettyImages-1395371348-600x405-1.jpg\" alt=\"Epoch Times Photo\" width=\"600\" height=\"405\" \/><figcaption class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-4456285\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/05\/GettyImages-1395371348-600x405-1.jpg\" alt=\"Epoch Times Photo\" width=\"600\" height=\"405\" \/><\/noscript> Elon Musk attends The 2022 Met Gala Celebrating \u201cIn America: An Anthology of Fashion\u201d at The Metropolitan Museum of Art in New York on May 02, 2022. (Dimitrios Kambouris\/Getty Images for The Met Museum\/Vogue)<\/figcaption><\/figure>\n<p>\u201cESG -> Surrender domestic nuclear, oil, natural gas -> Reliance on unreliable transient solar and wind -> Dependence on foreign energy powers,\u201d he <a href=\"https:\/\/twitter.com\/ACNicolet\/status\/1497189009860313088\">wrote<\/a> in a February Twitter post.<\/p>\n<p>Andreessen has <a href=\"https:\/\/twitter.com\/pmarca\/status\/1494912311571607554\">cited<\/a>\u00a0conservative James Burnham who, writing in the mid-20th century, theorized that an elite made up of technocratic managers was displacing an earlier elite made up of property owners.<\/p>\n<p>Taking what he described as Burnham\u2019s position, Andreessen <a href=\"https:\/\/twitter.com\/pmarca\/status\/1495178202599215106\">said<\/a>\u00a0that the rise of \u201cwokeness\u201d and ESG can be traced to \u201cthe oligarchic managerial elites who run the corporation, pledging allegiance to their managerial elite counterparts who run institutional investment funds and who regulate the markets.\u201d<\/p>\n<p>\u201cActual shareholders are mostly irrelevant,\u201d he said.<\/p>\n<p>Musk <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1510485792296210434\">wrote<\/a> on April 3 in response to one of Andreessen\u2019s tweets, \u201cI am increasingly convinced that corporate ESG is the Devil Incarnate.\u201d<\/p>\n<p>Tesla and Musk didn\u2019t respond to requests for comment by press time.<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-nathan-worcester\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/08\/WEB_NathanWorcester-1-2.jpeg\" alt=\"Nathan Worcester\" \/><\/a><\/p>\n<p>Follow<\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The New GOP voter says environmental, social, and governance scoring has been weaponizedElon Musk called the environmental, social, and governance (ESG) scoring \u201ca scam\u201d in a series of Twitter posts<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1484443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1484443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1484443"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1484443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1484443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1484443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1484443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}