Korea Electric Power : KEPCO published its 2020 Sustainability Report tha...

KEPCO News

KEPCO published its 2020 Sustainability Report that includes the expansion of ESG management

• Converting domestic coal-fired power plants to LNG, and no further plans to develop coal-fired power projects in overseas
• Strengthening social values through establishing a global energy hub 'Bitgaram Energy Valley'
• Issuing of green bonds and ESG bonds, disclosure aligning with TCFD recommendations, and a plan to establish 'ESG committee' are included

November 2020

• Korea Electric Power Corporation (President&CEO JongKap KIM) has published the '2020 Sustainability Report', which includes financial and non-financial performance, and sustainable management activities of KEPCO in 2019 and the first half of 2020.
• KEPCO has been publishing its sustainability reports every year since 2005. As ESG issues have become a major trend to follow in the global market, KEPCO prepared this year's sustainability report to meet the needs of the market by focusing on KEPCO's ESG management activities, including environmental and social responsibility and transparency in corporate governance.
• In this report, KEPCO included plans to expand the renewable energy for its transition to clean and safe energy, decommission of domestic coal-fired power plants prior to its lifespan and conversion to LNG, along with efforts to stably supply the highest quality of electric power.
• It also includes a declaration to move away from coal in overseas business and the shift in overseas projects development strategies to low-carbon and eco-friendly ways to promote sustainable development and cope with the climate crisis which is the biggest threat to the world.

• Furthermore, it introduces efforts to realize social values in detail, such as the Bitgaram Energy Valley project which KEPCO is successfully promoting for cooperative development with the local community, programs for shared growth with small and medium-sized enterprises, and social contributions specialized in power projects.
• Besides, it includes the activities of the Ethics Compliance Committee of KEPCO, which was established last year and is led by the CEO, to strengthen the ethical management, and its efforts for continuous improvement and inspection of unfair practices through out the work.
• KEPCO has been stepping up its ESG management by issuing global green bonds which worth 500 million dollars and ESG (sustainable) bonds which worth 200 billion won this year following last year. This sustainability report contains a strong will and various efforts to manage the overall ESG management.
• The efforts include the our plan to establish 'ESG Committee' under the Board of Directors to set up an ESG management and supervision system and to put efforts into the rapid and continuous implementation of ESG management.
• In particular, this sustainability report is devoted to cover detailed information on KEPCO's climate crisis response activities, reflecting the recommendations made by Task-force on Climate-related Financial Disclosure (TCFD) to meet the needs of global investors and other stakeholders.
• KEPCO's accomplishment in creating environmental and social values through these sustainability management activities, including the effect of reducing greenhouse gas emissions, are quantified on this report so that stakeholders can see KEPCO's ESG performance at a glance.
• This report can be found on the Korea Electric Power Corporation website (www.kepco.co.kr).