On 13 February 2026, the European Central Bank announced periodic penalty payments totaling 鈧�7,551,050 against Cr茅dit Agricole for failing to adequately assess climate-related and environmental (C&E) risks.
The sanction arises from non-compliance with an ECB decision issued on 8 February 2024, which required Cr茅dit Agricole to perform a materiality assessment of its C&E risks and reinforce the identification of significant exposures. The bank failed to meet this requirement for 75 full days in 2024, triggering the accrual of daily penalty payments.
The ECB takes into account the severity of the breach, its duration, and the daily turnover of the supervised institution when determining the total amount of penalties.
This measure follows a multi-year supervisory approach:
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In 2020, the ECB published its Guide on climate-related and environmental risks, setting expectations for prudent management and transparent disclosure.
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In 2022, a climate risk stress test and thematic review identified gaps in banks鈥� risk management.
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Subsequent feedback letters provided bank-specific timelines for compliance, culminating in legally binding requirements that include periodic penalty payments for missed deadlines.
The penalty is intended to enforce adherence to supervisory rules and ensure proper risk identification and management. Cr茅dit Agricole may contest the ECB decision before the Court of Justice of the European Union.
This enforcement underscores the ECB鈥檚 commitment to integrating climate and environmental risks into prudential supervision, ensuring that banks account for these risks consistently across the euro area.
