SpaceX receives lowest MSCI ESG rating ahead of $75 billion IPO

MSCI assigned SpaceX a CCC rating—the lowest tier on its environmental, social and governance scale—on 11 June, one day before the company's $75 billion initial public offering. The rating reflected high exposure to ESG risks, weak governance (a score of 3.2 out of 10), and an "orange flag" for ongoing controversies. MSCI uses the same CCC label for the lowest‑rated sovereigns, such as Russia after its 2022 invasion of Ukraine.

SpaceX founder and CEO Elon Musk dismissed the assessment, reiterating his view that ESG metrics are a "scam". The rating has sparked debate over the relevance of ESG scores for high‑technology, emissions‑intensive firms and may influence the appetite of sustainability‑focused investors, particularly in Europe where tighter ESG disclosure rules are taking effect. Analysts note that while MSCI argues its ratings are financially material, academic studies have highlighted significant divergence among ESG rating agencies.