“Total scam,” Elon Musk replies to a tweet where he’s saying that ESG is a scam

On Tuesday, the CEO of Tesla, Elon Musk takes on Twitter to reply to a tweet that posts his statement where he says that ESG is a scam.

The tweet was posted by @ChildrensHD. It said that Elon Musk tweeted in response that ESG is a scam, considering ExxonMobil is still listed in the S&P 500 ESG Index top 10.

“Tesla’s CEO @elonmusk tweeted in response that #ESG is a scam, considering ExxonMobil is still listed in the S&P 500 ESG Index top 10,”@ChildrensHD tweeted.

Tesla’s CEO @elonmusk tweeted in response that #ESG is a scam, considering ExxonMobil is still listed in the S&P 500 ESG Index top 10.#TheDefender https://t.co/vmnmcqCsT0

— Children's Health Defense (@ChildrensHD) July 19, 2022

In response, Musk tweeted, “Total scam.”

Total scam

— Elon Musk (@elonmusk) July 19, 2022

According to the Defender, ESG or environmental, social, and governance, funds are supposed to be those focused on companies with strong environmental ethics and responsibility.

Further investigation reveals rampant greenwashing has occurred, and many ESG-labeled funds are far from “sustainable.”

The U.S. Securities and Exchange Commission (SEC) is investigating Goldman Sachs over its ESG funds, including whether the bank’s management of ESG funds differs from what it has disclosed to investors.

“In May 2022, electric vehicle manufacturer Tesla was removed from the S&P 500 ESG Index, despite its focus on creating environmentally conscious vehicles,” a source as per the Defender.