Facebook gets dumped from an S&P index that tracks socially responsible

https://www.cnbc.com/2019/06/13/facebook-dumped-from-sp-esg-index-of-socially-responsible-companies.html

36 6 7 years ago

Why was it on there in the first place? It's hardly as if they just did an about-face that reversed their social standing.

farisjarrah• 7 years ago

Did you see the other member organizations of the ETF? I think their definition of being "Socially Responsible" is highly suspicious. Here are the top 10 ticker symbols in that index according to the S&P indicies website: https://www.spindices.com/indices/equity/sp-500-esg-index-us...

Microsoft Corp, Apple Inc., Amazon.com Inc, Johnson & Johnson, JP Morgan Chase & Co, Alphabet Inc C, Alphabet Inc A, Exxon Mobil Corp, Visa Inc A, Procter & Gamble

How Exxon Mobile and Amazon are "Socially Responsible" companies is beyond comprehension.

ekimekim• 7 years ago

It's in comparison to weapons manufacturers, coal and oil companies, etc. A "less awful" index, if you will. If they were actually only including socially responsible companies the index would be useless, as it would be empty.

daniel-cussen• 7 years ago

I think this is valuable for those that wanted to track S&P 500 minus Facebook, which several commenters talked about previously.

Facebook gets dumped from an S&P index that tracks socially responsible

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