Musk Bashes ESG
Elon Musk doesn’t hesitate to tell the world how he feels (usually via Twitter), most recently he let loose on ESG. Musk called corporate ESG ‘the Devil Incarnate’. Musk’s comments are a tiny bit surprising as his companies are often found in ESG indices. He is far from the only ESG, Professor at NYU Aswath Damodaran has been a harsh critic. He files the future of ESG into two camps ‘useful idiots’, believing to do good, and ‘feckless naves’ who are virtual signaling an empty void. ESG has faced harsh criticism for greenwashing companies to make them appear more environmentally friendly than they actually are.
Finsum: Regulators might have to step in if ESG is going to save its reputation.
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