The EU bans the marketing of products that contribute to deforestation and forest destruction

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According to the board’s press release, the application of the legislation contributes to stopping global deforestation and forest destruction, thus the reduction of biodiversity. With the entry into force of the new rules, all relevant companies will have to carry out strict due diligence when placing palm oil, beef, soya, coffee, cocoa, wood and rubber and products derived from them on the EU market: traders will have to prove that the goods are deforestation-free produced on land, in accordance with the laws in force in the issuing country. EU member states must ensure that non-compliance with the rules results in effective and deterrent sanctions – high fines.

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This will also help the EU manage its activities to stop deforestation together with partner countries, with particular regard to the protection of local communities and indigenous peoples, the commission said. The European Parliament and the Council have yet to officially adopt the new regulation. Once it enters into force, market participants will have 18 months to implement the new rules. For small businesses, the EU provides a longer adjustment period.

MTI