(Bloomberg) — 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.
Kepco, as the utility is known, confirmed Thursday that it received a letter from BlackRock, which it said requested fuller disclosure of its planned involvement in new coal-fired plants overseas.
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