Know about KEPCO
#DenyDebt To KEPCO
Meet KEPCO, South Korea’s largest utility company.
KEPCO is currently going through the worst financial crisis in its history. This loss mostly comes from the company’s over-reliance on coal and gas, with over 60% of its electricity generation capacity coming from fossil fuels. KEPCO's deficit is growing, with soaring energy demand and fuel prices. And its plans for coal expansion are not stopping.
According to newest GCEL data KEPCO has installed coal capacity of 74358 MW, with a current output of 97.5 million metric tonnes in coal production, with expansion plans of 20840 MW in total.
A fossil fuel company that still has plans for expansion in coal, cannot be Paris aligned, no matter the green or SLB-linked bonds they issue. And KEPCO is not ceasing its issuing of new bonds; only recently it issued USD 800 million worth of green bonds.
KEPCO is in financial strife because it has failed to invest in transition to renewable energy and is now relying on global bond markets to fund its operations. This gives bond investors a powerful opportunity to engage the company over its transition policies. And if KEPCO fails to deliver them - deny debt.
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