SpaceX received MSCI's lowest ESG rating, a CCC, just days before its highly anticipated public offering, the Financial Times reported. The June 11 assessment placed the company at the bottom of MSCI's corporate ESG scale, on par with Russia following the 2022 invasion of Ukraine, due to exposure to environmental, social and governance risks and insufficient management of those issues. MSCI also assigned SpaceX a score of 1 out of 10 in its controversies category and a governance score of 3.2 out of 10. The rating could discourage sustainability-focused funds from buying shares and amplify scrutiny of governance practices, including concentrated insider control and limited shareholder rights. The timing is notable as MSCI has adopted expedited procedures that could allow SpaceX to enter key benchmarks sooner than traditional IPOs.
Space Exploration Technologies Corp. Class A Common StockSpaceX received MSCI's lowest ESG rating (CCC), which could discourage sustainability-focused funds and amplify governance scrutiny ahead of its public offering.
Tesla Inc