EU deforestation law delay brings losses to most vigilant

8/10/2024 18:59

        Companies that have paid to source agricultural produce that complies with the European Union's anti-deforestation law would lose out if the EU decides to delay implementing the legislation by a year, industry groups and traders said.
        
        Deforestation is the second largest source of the greenhouse gas emissions that cause climate change after the burning of fossil fuels. The EU had planned to ban the import of commodities from suppliers unable to prove their goods were not linked to deforestation.
        
        The EU Deforestation Regulation (EUDR) would have impacted imports of cocoa, coffee, cattle, soy, oil palm, timber, rubber and related products like chocolate and leather.