HSBC provides a total of US$ 750 million through underwriting bonds to South Korea’s KEPCO and POSCO. Overall, they have an installed coal power capacity of 34,218 MW. This is almost three times as much as the entire UK’s coal capacity. As the pipeline of new coal projects within South Korea is beginning to close, KEPCO and POSCO are taking their coal plant business abroad to South Africa, Indonesia, Vietnam, Bangladesh, Mongolia and the Philippines. Therefore, they aim to increase their coal-fired power capacity by another 9,588 MW locking other countries that are most vulnerable to climate change into a coal path.
Find out more in our Coal Report page 30: