The S&P 500 booted electric vehicle maker Tesla from its ESG Index in an annual rebalancing. In the meantime Apple, Microsoft, AmazonMulti-national oil and gas companies can even be involved Exxon MobilThese were added to the list.

The S&P 500 ESG Index uses environmental, social and governance data to rank and effectively recommend companies to investors. This index uses hundreds of data points from companies to assess how they affect the world and treat all stakeholders, including employees, customers and partners.

On May 2, changes to the index were implemented. The spokesperson for the index explained how they came about. blog post published Wednesday.

It said that Tesla’s “lack of a low-carbon strategy” and “codes of business conduct,” along with racism and poor working conditions reported at Tesla’s factory in Fremont, California, affected the score. It also considered Tesla’s response to an investigation conducted by the National Highway Transportation Safety Administration.

Tesla claims that its mission is to help the world transition to renewable energy. February this yearIt settled with Environmental Protection Agency following years of Clean Air Act violations, neglecting to track emissions and other problems. Last year, Tesla was 22nd in the rankings. Toxic 100 Air Polluters Index, compiled annually by U-Mass Amherst Political Economy Research Institute — worse than Exxon Mobil, which came in 26th. The 2019 data are the latest available.

Tesla is the best! first-quarter filingIt was also revealed that the company is under investigation for handling waste in California. The fine came from Germany because it failed to comply with “take back” obligations regarding spent batteries.

California’s Department of Fair Employment and Housing has sued Tesla to stop discrimination and harassment against Blacks in its Fremont car factory. They claim that Tesla regularly kept Black employees at low levels within the company and made them more dangerous and physically demanding.

In the last year, National Labor Relations Board Tesla also admitted to engaging in unethical labor practices.

“While Tesla may be playing its part in taking fuel-powered cars off the road, it has fallen behind its peers when examined through a wider ESG lens,” the S&P spokesperson wrote.

Tesla CEO Elon Musk griped about the index on Wednesday morning on Twitter, where he boasts more than 90 million followers, saying S&P Global Ratings has “lost their integrity.”

Musk tweeted earlier: “I’m increasingly convinced corporate ESG (Devil Incarnate)”

The company’s impact report was then followed by Tesla wrote:

The current environmental, social, and governance (ESG), reporting doesn’t measure global positive impacts. Instead it measures dollar risk/return. Individual investors – who entrust their money to ESG funds of large investment institutions – are perhaps unaware that their money can be used to buy shares of companies that make climate change worse, not better.”

Tesla argued in the report that others could attain higher ESG ratings even though they only reduce greenhouse gas emissions slightly and still produce internal combustion engines.

Tesla stock shares fell more than 5% Wednesday afternoon amid broad market selling. Stocks of the company are down over 30% so far this year.