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BlackRock Warns Korean Utility on Overseas Coal Plant Push

  • Kepco says it was asked for fuller disclosures on power plants
  • Asset manager warns it could ‘escalate’ action if needed
Korea Electric Reports Third-Quarter Profit

Photographer: Seokyong Lee/Bloomberg

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BlackRock Inc. has challenged Korea Electric Power Corp. over plans to invest in new coal-fired power plants in Vietnam and Indonesia.

The world’s top asset manager raised concerns over “several controversial coal projects” with a South Korean utility, including in meetings in the first quarter, it said in a report last month. BlackRock “contacted the CEO seeking a clear strategic rationale for its investments in coal energy,” it said, without naming the company.