Crédit Agricole: a €7,5M fine imposed by the EBC "for failing to sufficiently identify climate risks"

"The European Central Bank imposes periodic penalty payments amounting to €7 551 050 on Crédit Agricole for failure to comply with its decision on climate-related and environmental risks", announced the ECB on 13/02/2026.

The decision of 08/02/2024, "among other things, set out the requirement for Crédit Agricole to conduct a materiality assessment of its climate-related and environmental (C&E) risks", specifies the ECB.

"The decision required the bank to reinforce its identification of the material C&E risks to which it is or might be exposed, and provided for the accrual of periodic penalty payments in the event of a failure to comply with this requirement by 31/05/2024. Crédit Agricole failed to meet the materiality assessment requirement for 75 full days in 2024", stated the ECB.

"When deciding on periodic penalty payments and their overall amount, the ECB takes into account the materiality of the infringement, the duration of the breach and the daily turnover of the supervised entity".

In November 2025, the ECB had already imposed a fine of €187 650 on another bank, Abanca…