The European Central Bank has imposed periodic penalty payments of EUR 7,551,050 on Crédit Agricole, S.A. for non-compliance with a binding supervisory requirement to strengthen the identification of its climate-related and environmental risks. An ECB decision of 8 February 2024 required the bank to conduct a materiality assessment of climate-related and environmental (C&E) risks by 31 May 2024, with periodic penalty payments accruing if the deadline was missed. Crédit Agricole failed to meet the requirement for 75 full days in 2024; the overall amount reflects the materiality of the infringement, the duration of the breach and the bank’s daily turnover, and such penalties accrue per day of infringement. Crédit Agricole may challenge the ECB’s decision before the Court of Justice of the European Union.
European Central Bank 2026-02-13
European Central Bank imposes EUR 7,551,050 periodic penalty payments on Crédit Agricole for failing to complete climate risk materiality assessment
The European Central Bank has imposed a penalty of EUR 7,551,050 on Crédit Agricole, S.A. for failing to comply with a supervisory requirement to assess climate-related and environmental risks by the specified deadline. The penalty reflects the severity and duration of the breach, and Crédit Agricole may contest the decision at the Court of Justice of the European Union.