Australian fund BetaShares has officially removed Tesla from the list of sustainable companies it trades, Zero Hedge reported. The reason is the “ethical failures” of the electric car manufacturer.
“Tesla is still a leader in carbon emissions, but it has violated our environmental, social and governance indicators, leading to its removal,” the fund’s chief executive, Luis Cross, told Business Insider. “In May last year, in the midst of the coronavirus pandemic, Tesla reopened its plant in Fremont, California, despite orders from local authorities, which led to a large number of cases. New reports show that there was a significantly larger outbreak than before. reported earlier. “
This action has been considered by BetaShares “for some time”. In the end, the fund turned its back on its $ 60 million investment in Musk’s company after several blows to its reputation.
“German media report that Tesla’s plant in Brandenburg will consume about 3.6 million cubic meters of water a year, which is about 30% of the total water in the region,” Cross said. “Some experts believe this will lead to restrictions on drinking water.”
The company has also been accused of links to Lens Technology, which has been accused of using forced labor by members of China’s Uighur minority.
“After all, these are things we don’t really want to compromise on,” Cross said.
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