ECB - European Central Bank

The European Central Bank (ECB) has decided to impose periodic penalty payments in the amount of €7,551,050 on Crédit Agricole, S.A., due to non-compliance with one of the requirements of the ECB decision of February 8, 2024, which sets out, among other things, Crédit Agricole’s obligation to conduct an assessment of the significance of its climate- and environment-related risks. The decision required the bank to strengthen its identification of material climate- and environment-related risks to which it is or could be exposed, and provided for cumulative periodic penalty payments in the event of non-compliance with this requirement by May 31, 2024.