The EU Parliament has stated that companies supplying products that risk contributing to deforestation will be monitored and held accountable via new due diligence regulations. The regulation targets six commodities:  beef, palm oil, wood, soy, coffee, and cocoa including products that are made from them. There will be strict traceability requirements so that only deforestation-free products are allowed to enter Europe. EU regulators believe this will significantly decrease carbon emissions as Europe imports and consumes a third of globally traded agricultural commodities. There are some concerns that the new regulation is not WTO (World Trade Organization)-compliant.

Want to stay up-to-date on trends? Check out our Praedixi AI-based Monitoring Tool.

Picture Credit Susanne Kuehne

Posted on 10 December 2021