Why was Tesla removed from the S&P 500 ESG Index? – The National

  • Date: 19-May-2022
  • Source: The National
  • Sector:Economy
  • Country:Gulf
  • Who else needs to know?

Why was Tesla removed from the S&P 500 ESG Index? – The National

Elon Musk's electric carmaker Tesla was removed from the S&P 500 ESG Index on Wednesday in a move which, on face value, may seem surprising.

The updated list features global heavyweights such as Apple, Microsoft, Amazon and Alphabet, but the world's biggest EV manufacturer, whose self-declared mission is to “accelerate the world’s transition to sustainable energy” is absent.

Tesla's share price closed about 7 per cent lower on Wednesday to $709.81 and the company's stock price has declined 41 per cent year-to-date.