EPH: yet another setback in ending its coal activities

Reclaim Finance asserts that EPH's commitment to exit coal by 2030 is a 'sleight of hand' because the company is transferring its coal assets to a new entity, EP Energy Transition, which is not bound by the phase-out date. The document further highlights EPH's role as the second-largest gas power developer in Europe, with over 4.7 GW in development, contradicting European decarbonization goals. It specifically urges Société Générale and its subsidiary Komercni Banka to cease financing EPH unless the company commits to a genuine coal exit by 2030 and halts new gas projects.

• EPH's announced 2030 coal phase-out is considered misleading because the company is transferring its coal assets to a newly created entity called EP Energy Transition, which is not subject to the phase-out announcement and may operate assets beyond 2030.
• EPH is identified as the second-largest gas power developer in Europe, with more than 4.7 GW of gas power in development, placing it behind only France's EDF.
• The expansion of gas power by EPH, including planned plants in Germany, contradicts the December 2023 commitment by seven European countries to decarbonize electricity production by 2035.
• Société Générale and its Czech subsidiary, Komercni Banka, are identified as continuing to provide financial support to EPH.

APA

Martin, L. (2024). EPH: yet another setback in ending its coal activities. Reclaim Finance. https://reclaimfinance.org/site/en/2024/01/19/eph-yet-another-setback-in-ending-its-coal-activities/

Chicago

Martin, Léo. EPH: yet another setback in ending its coal activities. Reclaim Finance, 2024. https://reclaimfinance.org/site/en/2024/01/19/eph-yet-another-setback-in-ending-its-coal-activities/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=EPH: yet another setback in ending its coal activities |publisher=Reclaim Finance |date=19 January 2024 |url=https://reclaimfinance.org/site/en/2024/01/19/eph-yet-another-setback-in-ending-its-coal-activities/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2024eph, author = {Martin, Léo}, title = {{EPH: yet another setback in ending its coal activities}}, publisher = {Reclaim Finance}, year = {2024}, month = jan, url = {https://reclaimfinance.org/site/en/2024/01/19/eph-yet-another-setback-in-ending-its-coal-activities/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }