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Tobacco companies are crushing Tesla in the ESG ratings
- superchroma 3y agoWhy should tobacco be low? It's a sustainable product: leaves from a robust plant that doesn't ask for much, picked by hand in the third world, that are dried, doped, treated, chopped and packed. Probably the worst part of all it is the filter. Why should Tesla be high comparatively?
- raxxorraxor 3y agoThere is also the social and governance part in ESG. I think the mechanism is an antidemocartic abomination and stakeholder capitalist should be rewarded with expropriation, but otherwise the values of ESG will always be random and conform to the zeitgeist of the highest decadence. Currently, Musk is evil and money is good. It is the worst way of paving the way to hell with good intentions and I think the UN should reevaluate their approach. I don't believe UN participation is worth fighting for in this state.
- ZeroGravitas 3y agoTesla is scored badly on ESG because they don't publish the info required to grade them. It's like a smart kid not handing in their homework and so getting a lower score than another kid who at least handed something in. > It said that Tesla's "lack of a low-carbon strategy" and "codes of business conduct," along with racism and poor working conditions reported at Tesla's factory in Fremont, California, affected the score. Tesla CEO Elon Musk has called ESG metrics the "Devil Incarnate."
- raxxorraxor 3y agoI think Musk is correct here. Maybe there were good intentions, but ESG is a complete failure.
- lantry 3y agothere was a good article in the Atlantic last month about this same topic. ESG is not a fundamental change, it's just new marketing. https://www.theatlantic.com/ideas/archive/2023/05/esg-woke-investing-trend-reality/674197/ https://www.theatlantic.com/ideas/archive/2023/05/esg-woke-i...