Finance
ECB fines Crédit Agricole over non-compliance on climate-related risk
Published by Global Banking & Finance Review®
Posted on February 13, 2026
1 min readLast updated: February 13, 2026
Quick Summary
The ECB fined Crédit Agricole €7.55 million for failing to comply with climate-related risk requirements, marking increased scrutiny on banks.
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)
Key Takeaways
- •ECB fined Crédit Agricole €7.55 million for climate risk non-compliance.
- •The violation lasted for 75 days in 2024.
- •ECB's decision can be challenged in the EU Court of Justice.
- •ECB is increasing scrutiny on banks' climate risk exposure.
- •Crédit Agricole's fine highlights the importance of climate risk management.
Frequently Asked Questions about ECB fines Crédit Agricole over non-compliance on climate-related risk
1What is climate risk?
Climate risk refers to the potential financial losses that can occur due to climate-related events, such as extreme weather, which can impact businesses and financial institutions.
2What is regulatory compliance?
Regulatory compliance involves adhering to laws, regulations, guidelines, and specifications relevant to business operations, ensuring that organizations operate within legal frameworks.
3What is the role of the European Central Bank (ECB)?
The European Central Bank (ECB) is responsible for managing the euro and overseeing monetary policy within the Eurozone, aiming to maintain price stability and financial stability.
4What is a materiality assessment?
A materiality assessment is a process used to identify and evaluate the significance of various risks and opportunities that could impact an organization's financial performance.
