The global index supply trademark, the Dow Jones Index, announced on Wednesday that Tesla, Inc. was removed from the S & P 500 ESG, saying that Tesla, Inc. 's score on environmental, social and governance standards had remained "quite stable" over the past year, but it had slipped down the rankings compared with its improving global peers.

Standard & Poor's Dow Jones mentioned that Tesla, Inc. 's working environment and the handling of the autopilot system's casualty investigation suggested that Tesla, Inc. 's California Fremont factory had been exposed for poor working conditions and racial discrimination. S & P also believes that the lack of a low-carbon strategy and a code of business conduct are bad for Tesla, Inc..

Said Mararet Dorn, senior director of S & P Dow Jones's North American ESG index.

While Tesla, Inc. may have played a role in phasing out fuel-powered cars, it lags behind its peers when assessed from a broader ESG perspective.

Tesla, Inc. CEO Musk later posted an angry post on social media Twitter.

Exxon Mobil Corp was ranked in the top 10 of global ESG by S & P 500, but Tesla, Inc. failed to make the list.

ESG is a scam. It is used as a gun by guys disguised as fighters of social justice.

S & P ratings have lost their integrity.

ESG ratings relate to corporate environmental protection, social responsibility and corporate governance effectiveness, not financial performance. ESG investment funds currently account for 10% of global assets, and ESG is seen as an investment area that will set off a third wave of change.

This time Musk singled out Exxon Mobil Corp and said it was no accident. Mobil does rank in the top 10 as a giant of conventional fuel energy in the S & P ESG index. Also at the top of the list are Apple Inc, who admitted violating China's labor law, and Amazon.Com Inc, who did not vote to form the company's first trade union in the United States until April this year.

ESG rating: what Musk calls "devil incarnation"

The attack on Wednesday follows a sharp rise in Mr Musk's recent public criticism of ESG. Wall Street articles mentioned that Tesla, Inc. did not get a high score in a number of ESG ratings, even worse than two oil companies, which made Musk even more angry.

Musk blasted in early April that "corporate ESG ratings are the embodiment of the devil," saying that ESG's investment principles "should be deleted if they are not revised," and in late April, "ESG ratings are meaningless.

In the preface to the 2021 influence report released by Tesla, Inc. earlier this month, it was pointed out that there are essential defects in the current ESG evaluation methods in the market, and that ESG needs to improve its ability to measure and evaluate the real situation.

Most crucially, according to Tesla, Inc., these ratings are used by fund managers to help determine the direction of investment, focusing only on the value of the dollar that measures risk or return. In other words, many investors rely solely on ESG reports to invest without really thinking about whether investing will make the world a better place, blinding some individual investors betting on ESG funds.