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.
“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.
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)