John,

KEPCO is doubling down on coal. Instead of transitioning to clean energy, Korea’s biggest electricity provider is backtracking on its promises and trying to finance its coal plans with toxic bonds.

But we have an opportunity to disrupt this. KEPCO has bonds maturing in June, and we can pressure major banks that have supported it before—Citi, Bank of America, HSBC, and JPMorgan—to back away.

Public pressure calling on banks to back away from coal works. BNP Paribas has already distanced itself from KEPCO due to its coal-heavy operations. APG divested in 2021, and Sweden’s AP7 followed suit in 2023. If we take action now, we can push more banks to do the same.

Sign the petition: Citi, Bank of America, HSBC and JPMorgan stop funding KEPCO’s coal.

The South Korean Government has signed onto the Paris Agreement and made bold promises to tackle the climate crisis. But its state-owned utility KEPCO’s commitment to coal flies in the face of that.

Right now, KEPCO is in a financial crisis. Its reliance on coal is sinking it: 33.7% of its imported power and 40.2% of its domestic power come from coal, while renewables account for just 2.1%.

If we can force big banks to back away from financing KEPCO’s toxic bonds, the power company will have to move to generating electricity from clean, renewable energy sources. Let’s send a clear message to banks and KEPCO: No more funding for coal. No more broken promises.

Tell Citi, Bank of America, HSBC and JPMorgan: don’t finance KEPCO’s coal.

Together, we forced Indonesian coal giant Adaro to move away from coal. Big banks like HSBC are already backing away from coal projects worldwide. With enough pressure, we can force more banks to choose clean energy instead of polluting coal.