BRUSSELS – The European Union agreed on Tuesday on a new law to prevent companies from selling into the EU market coffee, beef, soy and other commodities linked to deforestation around the world. The law will require companies to produce a due diligence statement showing that their supply chains are not contributing to the destruction of forests before they sell goods into the EU – or they could face hefty fines. Negotiators… struck the deal on the law on Tuesday. It will apply to soy, beef, palm oil, wood, cocoa and coffee, and some derived products including leather, chocolate and furniture. Rubber, charcoal and some palm oil derivatives were included at the request of EU lawmakers. Companies would need to show when and where the commodities were produced and “verifiable” information that they were not grown on land deforested after 2020. …Countries impacted by the new rules …say they are burdensome and costly.
Additional coverage: Press Release from European Parliament, Deal on new law to ensure products causing deforestation are not sold in the EU