Actualités ESG

New EU law adopted to fight global deforestation

Apr. 14, 2023

Europe – The European Union has passed a new law aimed at fighting climate change and biodiversity loss. Under the law, companies must ensure that their products sold in the EU do not come from deforested land or have led to forest degradation and must verify that these products comply with relevant legislation in the country of production, including on human rights. The law covers products including cattle, cocoa, coffee, palm oil, soya, wood, rubber, charcoal, printed paper products, and palm oil derivatives. The Commission will classify countries as low-, standard-, or high-risk based on a transparent assessment, and penalties for non-compliance will be proportionate and dissuasive, with a maximum fine of at least 4% of the total annual turnover in the EU of the non-compliant operator or trader.

NEXT STEPS: The text also needs to be formally endorsed by Council. It will then be published in the EU Official Journal and enter into force 20 days later.

Source: European Parliament

EU Commission boosts action on pollinators for food security and ecosystem resilience

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