Financial monitoring agencies mull environmental crimes during COP29

During the COP29 climate conference, the Financial Monitoring Service of Azerbaijan, in collaboration with the Egmont Group, organized panel discussions on "Opportunities for Financial Intelligence to Contribute to Global Efforts in Combating Anthropogenic Climate Change" and "The Role of Financial Monitoring Bodies and Their Law Enforcement Partners in Combating Environmental Crimes."

According to Report, the first session focused on issues related to the legalization of property obtained through environmental crimes, financing of terrorism, and cooperation in the financial, investment, and trade spheres to support efforts in combating environmental crimes, their consequences, and global financial intelligence strategies.

Zaur Fatizada, Chairman of the Board of the Financial Monitoring Service, and Ghada Fathi Waly, Executive Director of the United Nations Office on Drugs and Crime, discussed international efforts in financial intelligence and climate change, as well as upcoming challenges.

The second session, moderated by Azer Abbasov, Deputy Chairman of the Financial Monitoring Service Board, emphasized the role of financial monitoring bodies in identifying and preventing environmental crimes. Fuad Aliyev, Director of the Cooperation Department of the Financial Monitoring Service, Fabrizio Fioroni, an expert from the United Nations Office on Drugs and Crime, and others highlighted the importance of cooperation between financial monitoring bodies and law enforcement agencies in combating environmental crimes.