FRANKFURT, Feb 13 (Reuters) - The European Central Bank imposed a 7.55 million euro ($8.96 million) fine on French lender Crédit Agricole for failing to comply with its decision on climate-related and
ECB Imposes €7.55 Million Fine on Crédit Agricole for Climate Risk Violations
ECB's Enforcement on Climate Risk Compliance
FRANKFURT, Feb 13 (Reuters) - The European Central Bank imposed a 7.55 million euro ($8.96 million) fine on French lender Crédit Agricole for failing to comply with its decision on climate-related and environmental risks, it said on Friday.
Details of the Fine
"Crédit Agricole failed to meet the materiality assessment requirement for 75 full days in 2024," the ECB said in a decision that may be challenged at the Court of Justice of the European Union.
Implications for Banks
ECB supervisors have been increasingly intrusive in probing banks' exposure to climate risk, first giving lenders a list of expectations, then binding decisions on disclosing and managing risk.
($1 = 0.8427 euros)
(Reporting by Balazs Koranyi; Editing by Sharon Singleton)
