ECB Said to Warn Credit Agricole of Possible Fine Over Climate

The European Central Bank has told France’s second-largest lender that it’s among firms that may be fined after failing to meet the supervisor’s expectations for managing climate risks, according to people familiar with the matter.

Credit Agricole is contesting the so-called periodic penalty payment and a final decision has yet to be made on whether the fine will stand, said the people who asked not to be identified disclosing confidential information.

The fines against banks would be the first from the ECB over climate and would mark an escalation of its long-running efforts. The financial penalties themselves would likely be ...