New rules for companies to help limit global deforestation
September 12, 2022
Category: Forestry

EUROPE — To fight global climate change and biodiversity loss… an EU Parliament plenary adopted its position on the Commission proposal for a regulation on deforestation-free products. The new law would make it obligatory for companies to verify that goods sold in the EU have not been produced on deforested or degraded land anywhere in the world. This would guarantee consumers that the products they buy do not contribute to the destruction of forests and hence reduce the EU’s contribution to climate change. …Parliament also wants financial institutions to be subject to additional requirements to ensure that their activities do not contribute to deforestation. …While no country or commodity will be banned, companies would be obliged to exercise due diligence to evaluate risks in their supply chain. …Parliament is now ready to start negotiations on the final law with EU member states.

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