Factors that contributed to Tesla's lower score include its lack of 'low carbon energy and codes of business conduct.'
, the company said current ESG reporting focuses on measuring "the dollar value of risk/return" rather than "the scope of positive impact on the world" and that individual investors may be unaware that their money may be used to buy shares in companies that make climate change worse.
"As long as a company continues to slightly decrease emissions of its manufacturing operations while churning out gas-guzzlers, its ESG ratings are likely to go up," Tesla added. "We need to create a system that measures and scrutinizes actual positive impact on our planet, so unsuspecting individual investors can choose to support companies that can make and prioritize positive change.
In addition, the report said it is "essential" that a company treats their employees well with a system in place to prevent discrimination. Dorn emphasized that the index is rebalanced annually and that Tesla would have other opportunities to be included in the future.
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