👉 Background: The S&P 500 ESG index is designed to track and measure the performance of stocks that meet certain sustainability criteria. For example, the index automatically disqualifies companies that sit in industries like thermal coal, weapons or tobacco.

👉 What happened: Tesla is a pioneer in the electric vehicle space, so it has been on the S&P 500 ESG Index for a while... until now. The S&P has booted Tesla off the ESG index effective immediately.

👉 What else: The reason? Claims of racial discrimination at the company, crashes linked to its autopilot vehicles and a lack of published details around Tesla's low carbon strategy. Elon is furious, Tweeting that "corporate ESG is the devil incarnate" 😈.

🔔 What's the key learning?

💡 ESG stands for environmental, social and governance. ESG indexes have popped up around the globe to track companies that score well on the E, S and G issues.

💡ESG is becoming an increasingly popular investment strategy for socially conscious investors who care about the environment. In fact, assets in ESG funds hit US$2.74 trillion at the end of last year.

💡The tricky thing about these indexes is that the definitions of E, S and G can get pretty subjective... But Tesla ain't alone. Buffett's Berkshire Hathaway and Meta were also booted 👢.