POST Online Media Lite Edition



 

Deal on new law to ensure products causing deforestation are not sold in EU

Christian Fernsby |
To fight climate change and biodiversity loss, the new law obliges companies to ensure that a series of products sold in the EU do not come from deforested land anywhere in the world.

Article continues below




MEPs reached a preliminary deal with EU governments on a new law on deforestation-free products that will make it obligatory for companies to verify and issue a so-called “due diligence” statement that goods placed on the EU market have not led to deforestation and forest degradation anywhere in the world after 31 December 2020.

According to the agreed text, while no country or commodity as such will be banned, companies will not be allowed to sell their products in the EU without this type of statement.

As requested by MEPs, companies will also have to verify compliance with relevant legislation of the country of production including on human rights and that the rights of concerned indigenous people have been respected.

The new law would guarantee European consumers that the products they buy do not contribute to the destruction and degradation of forests, including of irreplaceable primary forests, and would hence reduce the EU’s contribution to climate change and biodiversity loss globally.

The products covered by the new legislation are: cattle, cocoa, coffee, palm-oil, soya and wood, including products that contain, have been fed with or have been made using these commodities such as leather, chocolate and furniture as in the original Commission proposal.

During the talks, MEPs successfully added rubber, charcoal, printed paper products and a number of palm oil derivatives. Parliament also secured a wider definition of forest degradation that includes the conversion of primary forests or naturally regenerating forests into plantation forests or into other wooded land and the conversion of primary forests into planted forests.

The Commission shall evaluate no later than one year after the entry into force, whether to extend the scope to other wooded land.

No later than two years after the entry into force, the Commission shall also evaluate an extension of the scope to other ecosystems, including land with high carbon stocks and with a high biodiversity value, as well as to other commodities.

At the same time the Commission shall also assess the need to oblige EU financial institutions to only provide financial services to their customers if they assess that there is only a negligible risk that these services do not lead to deforestation.

The competent EU authorities will have access to relevant information provided by the companies, such as geolocation coordinates, and conduct checks. They can, for example, use satellite monitoring tools and DNA analysis to check where products come from.

The Commission will classify countries, or part thereof, into low, standard or high risk within 18 months of this regulation entering into force and the proportion of checks on operators will be performed according to the country’s risk level: 9% for high risk, 3% for standard risk and 1% for low risk. For high risk countries, member states would also have to check 9% of total volumes.

Penalties for non-compliance shall be proportionate and dissuasive and the maximum amount of a fine is set at least 4% of the total annual turnover in the EU of the non-compliant operator or trader.

Parliament and Council will have to formally approve the agreement. The new law will come into force 20 days after its publication in the EU Official Journal but some articles will apply 18 months later.


What to read next

British supermarkets threaten Brazil boycott over proposed forest law
Mozambique first country to receive emission reductions payments from Forest Carbon Partnership Facility
Whisky tops Knight Frank Luxury Investment Index

First international passenger flight takes off from Auckland Airport following deluge

 
Wheels up on Jetstar flight JQ202 to Sydney this morning marked the return of international passenger travel at Auckland Airport after serious flooding impacted flight operations.
 
 

Latest

Logistics UK reacts to speculation about part-cancellation of HS2 Project
Farmers hold Rail Roko protest in Punjab
TABC President: Tunisia can be platform for exporting energy to Europe
Pakistan's anti narcotics force recovers 51 kg drugs, arrests 9

NEWS

Four dead as floods in New Zealand continue for third day

At least 2 dead, 122 injured as 5.9-magnitude earthquake strikes northwestern Iran
U.S.: Arctic front slides southward
Record rainfall overnight in Auckland causes massive flooding
Drug trafficking network in Italy and Albania taken down
Japan launches intelligence satellite to join fleet in orbit
 

BUSINESS

Germany faces biggest teacher shortage in 50 years, association says

Electricity from renewable sources on the rise in EU
North Carolina: Construction begins on new tower at Asheville Regional Airport
Second weekly decline in active U.S. oil rigs
Australian consumer watchdog launches crackdown on misleading social media influencers
Globalisation redefined as manufacturing moves closer to home
 

Trending Now

Ryanair offers jobs to Flybe staff after airline's collapse

Pakistan's anti narcotics force recovers 51 kg drugs, arrests 9

Iran and Kazakhstan eye increasing annual bilateral trade to $3 billion

Logistics UK reacts to speculation about part-cancellation of HS2 Project


POLITICS

Iran to join Shanghai Cooperation Organization

Iran and Kazakhstan eye increasing annual bilateral trade to $3 billion
Italian Prime Minister in Libya to conclude $8 billion gas deal
EU extends economic sanctions against Russia by six months
Iraq, France agree on energy, security cooperation
MEP from Hungary: European gas price cap would have negative effect on gas markets
 

Today We Recommend

EU launches €100 million Regional Teachers' Initiative for Africa


Highlights 

Milo's Tea Company to create 103 new jobs in Spartanburg County, South Carolina

SK Battery America to open U.S. IT center, create 200 high-tech jobs in Roswell, Georgia

Chipotle Mexican Grill to hire 15,000 workers


COMPANIES

Ryanair offers jobs to Flybe staff after airline's collapse

BioMar sources Benson Hill ingredients to boost sustainability of aquafeed
Milo's Tea Company to create 103 new jobs in Spartanburg County, South Carolina
SK Battery America to open U.S. IT center, create 200 high-tech jobs in Roswell, Georgia
Chipotle Mexican Grill to hire 15,000 workers
Duke Energy begins operation of Idaho’s largest solar plant
 

CAREERS

Foresters Financial Canada president Henry Auyeung to retire

Dollar Bank names Peter Kubiska new chief marketing officer
Bank of South Carolina CEO Fleetwood S. Hassell to retire
Drest appoints Henri Holm as CFO
VC4A introducing Vincent Hoogduijn as CEO
Introhive appoints Lee Blakemore as CEO
 

ECONOMY

U.S. trade deficit for goods soar 8.8% to $90.3b in December

Uzbekistan's economy grows 5.7 pct in 2022
Irish consumer confidence hit seven month high in January
Bank of Canada hikes rates
Singapore’s core inflation at 5.1 pct in December, averaged 4.1 pct for 2022
EU trade with Russia declined strongly
 

EARNINGS

American Express Q4 income $1.6 billion

Chevron Q4 earnings $6.4 billion
Weyerhaeuser Q4 profit decreases
LG slips to loss in Q4
Santa Cruz County Bank Q4 income $10.0 million
American Airlines Q4 revenues up 39.9%
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

New swine fever outbreak confirmed in Gauteng, South Africa

Eurostat releases food price monitoring tool
New Zealand suffers egg supply shortage
Hong Kong suspends import of poultry meat and products from areas in Mexico and Poland
FAO and Japan to help Moldovan rural households overcome multiple crisis effects
African Development Bank to commit $10 billion to make continent world's breadbasket
 

LEADERSHIP

Product images could boost food pantry use

The madness of fast service: I want it now!
How to build a resilient brand
Only 32% of employees believe their pay is fair
Corporate duty waivers limit organic company growth and innovation
Women buy from women, men buy from women and men
 

CRIME

EAO issued third fine for Coastal GasLink project

Dutch central bank fines cryptocurrency exchange Coinbase 3.3 mln euros
Bloomberg to pay $5 million for misleading disclosures about its valuation methodologies for fixed income securities
Italy fines Yoox with over 5 million euro for misleading prices and limitations of right of withdrawal
Nexo agrees to pay $45 million in penalties and cease unregistered offering of crypto asset lending product
Virgin Atlantic fined for operating flights in prohibited airspace
 

Magazine

TRAVEL

IntercityHotel Berlin Airport BER opens

Art After School, the perfect way to spark imagination in your child
The world's biggest food fair in Berlin you don't wanna miss
Largest antiques show comes to small Texas town
Meet and see great artists from across the United States
Address Grand Creek Harbour opens its doors to guests
 

SEA, LAND, AIR

Honda Pilot TrailSport, fully equipped SUV with great ground clearance

2024 Corvette E-ray, electrified 4WD
Jaguar I-PACE is now more distinctive
2023 Toyota Prius expected this January
2023 Lincoln Corsair, advance features and ActiveGlide
Lamborghini Huracán Sterrato, first super sports car for any terrain
 

DESIGN

Curved sofas, elegant and gentle

Solios watches, from nature to luxury
Coats of faux fur, but not of faux style
Redifining kitchen space and experience with workstations
Dinning sofas, a soft addition to a modern dinning table
Patchwork carpets, vintage Persian carpets made with unparalleled skill
 

GADGETS

Harman Luxury Audio introduces new JBL Classic Series

KEF KC62, audio excellence and design ingenuity
Panasonic announces flagship OLED TV MZ2000
McIntosh MC451, 150 Watt vacuum tube and 300 Watt solid state amplifier
Headonia 2A3, luxury headphone amplifier that comes with gloves
ASUS launches ExpertBook B9 for executives
 

HEALTH

Indonesia to start rolling out COVID-19 vaccination for children under 6

Ipsen receives CHMP negative opinion for Palovarotene as treatment for fibrodysplasia ossificans progressiva in EU
Once-daily Sotyktu gets positive opinion as treatment for adults with moderate-to-severe plaque psoriasis
EMA update on shortages of antibiotics in EU
Researchers develop new urine test that can diagnose cancer
India launches 'world's first' intranasal COVID-19 vaccine
 

MEANTIME

NASA system predicts small asteroid to pass close by Earth this week

NASA, Pentagon developing nuclear-powered rocket for Mars
Milky Way found to be too big
Earth's inner core rotation paused
Airbus-built JUICE spacecraft set for lift-off to study Jupiter’s icy moons
Ripples in fabric of universe may reveal start of time