ECB Fines Credit Agricole €7.6 Million Over Climate Failures

The European Central Bank has fined Credit Agricole €7.6 million ($9 million), after concluding that France’s second-largest lender failed to properly manage financially material climate-related and environmental risks.

“Crédit Agricole did not sufficiently assess the materiality” of such risks before a deadline that had been set, the ECB said in a statement on Friday. The breach covers a period of 75 days in 2024, it said.