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

cnbc.com

36 points·plotteddancer16··6 comments

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.

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.

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.

Exxon Mobil?

Why would it be empty? I can name several socially responsible companies like Blackbaud (software for non profits) and Docusign (sponsors save the rainforest initiatives)

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

Reply on news.ycombinator.com