The 29th United Nations Climate Change Conference (COP29), held in Baku, Azerbaijan, reaffirmed the urgency of global coordinated actions to address the climate crisis. The event aimed to align countries’ commitments toward the Paris Agreement goal of limiting global warming to 1.5°C above pre-industrial levels. In addition to revising emission reduction targets, COP29 addressed energy transition, climate financing, and, for the first time, emphasized legal accountability for environmental damages.
In this context, the strategic document presented by the United Nations Office on Drugs and Crime (UNODC) gained prominence, underscoring the importance of tackling corruption and environmental crimes in combating climate change. According to the document, corruption facilitates such crimes, undermining climate policies and diverting financial resources intended for mitigation and adaptation efforts. The integration of anti-corruption mechanisms and financial intelligence into NDCs was identified as essential to ensuring transparency and effectiveness in using climate funds and combating illicit networks supporting environmental crimes.
For Brazil, one of the economies most dependent on natural resources, these guidelines have a direct impact on the business sector, as national legislation holds companies criminally accountable for environmental crimes. This includes not only fines but also asset freezes, operational shutdowns, and the potential liability of executives and board members who, through intentional action or omission, enable illicit practices.
Thus, Brazilian companies must invest in robust criminal risk mitigation practices, aligning their operations with local and international legislations. Strategies such as adopting green technologies and renewable energy not only reduce environmental footprints but also enhance corporate reputation by demonstrating commitment to global climate goals. Additionally, Brazil offers significant opportunities for companies adopting sustainable practices, including forest preservation projects and the development of a low-carbon economy, alongside tax incentives and the attraction of international investments.
Sectors more exposed to environmental and climate risks can also benefit by collaborating with public authorities to curb crimes in their supply chains, including by implementing more effective resource tracking systems.
COP29 highlighted the connection between environmental crimes and climate change, emphasizing that combating these crimes is an indispensable component of global strategies to preserve biodiversity and limit global warming. For the Brazilian private sector, this moment calls for reflection and proactive action to ensure not only compliance with regulations, but also adaptation to new global demands for sustainability and corporate integrity.