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Tesla CEO Elon Musk talks to the press as he arrives to have a look at the construction site of the new Tesla Gigafactory near Berlin, Germany, on Sept. 3, 2020. (Maja Hitij/Getty Images) Twitter CEO Elon Musk again denounced environmental, social, and governance ( ESG ) standards as “the devil.”
ESG is a set of nonfinancial “standards for a company’s operations that socially conscious investors use to screen potential investments,” according to Investopedia.
ESG stands for environmental sustainability initiatives (“E”), how well management promotes social justice causes (“S”), and the quality of diversity and equity initiatives in the workplace (“G”).
Many conservatives have warned that these standards will enforce “woke” ideology on corporations to their ultimate detriment.
The billionaire owner of Tesla and Twitter has been criticizing ESG standards as a politicized form of social credit score on businesses.
Musk comments came in response to a Nov. 27 tweet from Carol Roth, a small-business expert and advisor.
“Remember when @ElonMusk wanted to bring free speech to Twitter and then S&P removed Tesla from their ESG 500 Index, but kept in Exxon?” wrote Roth in a tweet.
“ESG is business social credit. It’s a means to control capital, keep business people in line with the narrative, and, ultimately, control you.”“ESG is the devil,” wrote Musk immediately in response. Musk’s War Against ESG Standards Musk has had a months-long feud with the so-called corporate social credit system after Tesla was removed from the S&P 500 ESG Index on May 18.The Twitter CEO stated back in Mar. 22 that “ESG is social credit on a massive scale, applied to corporations and institutions. It’s social credit with a trickle down effect. They won’t have to implement direct social credit if they can convince you to modify your own behavior with a variety of social and economic levers,”A […]
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