Gas and oil firms reclassified under non-renewables on LSE

Gas and oil firms reclassified under non-renewables on LSE

Trade group says change may have opposite intended effect towards low carbon future

Oil and gas companies listed on the London Stock Exchange have been reclassified under a non-renewable energy category in a move designed to distinguish between heavily polluting companies and greener producers.

The change has been made by the index provider FTSE Russell, which now groups companies such as BP, Royal Dutch Shell, Cairn Energy, Petrofac, Premier Oil and Tullow Oil, formerly labelled oil and gas producers, in the non-renewable energy index. Coal companies, previously classified under basic materials/mining, also now come under non-renewable energy.

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