LSE terms oil and gas stocks as ‘non-renewable’
NEW DELHI: In a huge leg-up for green energy investing, the London Stock Exchange (LSE) has classified oil and gas stocks as non-renewable energy. The move marks a fundamental change in the global investment culture against the backdrop of growing climate concerns with several countries focussing on renewable energy.
According to FTSE Russell; integrated oil and gas firms, crude oil producers, offshore drillers, oil refining and marketing firms, oil equipment and services, pipelines and coal have been classified as ‘non-renewable energy.’ Also, alternative fuels such as ethanol, methanol, hydrogen and biofuels and renewable energy equipment have been grouped under ‘renewable energy.’
