SpaceX receives the lowest ESG rating from MSCI before its IPO

Golden Ten Data reported on June 21st that, according to the Financial Times, index provider MSCI assigned its lowest level environmental, social, and governance (ESG) rating, “CCC”, to SpaceX ahead of its record-breaking $75 billion public offering this month. According to MSCI, this places SpaceX “behind the industry due to its high risk exposure and failure to manage significant ESG risks.” Frédéric Ducoulombier, Program Director at the EDHEC Business School Climate Research Institute, stated: “The company’s poor controversy assessment, extremely weak governance evaluation, and low overall ESG rating should not come as a surprise to anyone. For public market investors, this is very close to a governance-level horror story.”