ECB to Impose First-Ever Fines on Banks for Climate Failures
www.bloomberg.com
The European Central Bank is set to take the unprecedented step of imposing fines on several lenders for their protracted failure to address the impact of climate change.
  • hitwright@lemmy.world
    2·
    6 months ago

    For a bank with annual revenue of €10 billion ($10.9 billion), for example, that would suggest daily penalties of as much as €1.4 million in the toughest scenario

    Not much of a fine. Love the doomerism growing inside. :3

    • silence7@slrpnk.netOPM
      2·
      6 months ago

      That’s a bit over half a billion euros per year. That’s roughly comparable to the profits of a bank with revenue of 10 billion.

      • MrMakabar@slrpnk.netEnglish
        2·
        6 months ago

        Uni Credit made 6.4billion profit from 20.3billion revenue in 2022. So we are talking 15% of profits.