To help the world take the necessary steps toward a clean energy future, it’s time to reframe our economic thinking. The term “energy” has been conveniently, but inaccurately, equated with oil, gas, and coal — the outdated, destructive fossil fuels whose time has passed.
The words we read and hear — in the news and on the financial pages — have a cumulative effect on our choices as consumers and investors.
We call on the media to adopt wording that builds public awareness by calling things by their true names: “fossil fuels” and “renewable energy.”
Why is this important?
“Stocks lower as energy shares fall” is the headline of an Associated Press article in the L.A. Times Sept 24, 2016. It goes on to mention oil, gasoline, natural gas, and ocean drilling rigs. This misuse of the word "energy" creates a false line of thought.
Standard & Poor’s Global Industry Classification Standard (GICS®) has this: “Energy Sector: The Energy Sector comprises companies engaged in exploration & production, refining & marketing and storage & transportation of oil & gas and coal & consumable fuels. It also includes companies that offer oil & gas equipment and services.”
But where are solar and wind? They are listed under “Technology” or “Utilities.”
It’s time to correct this mistake.
