Corporate Sustainability across Europe
With the ‘Green Deal’, the EU has launched a set of measures focused on respecting human rights and protecting the environment, with the aim of making sustainable corporate governance the European standard. At the heart of these measures is the creation of transparency by regulating the supply chains and value chains of European companies.
The EU Regulation on Deforestation-free Supply Chains (EUDR)
The EUDR took effect on 29 June 2023 and marks a significant milestone in global forest protection. It requires companies to fulfil various due diligence obligations to reduce global deforestation and protect pristine forests.
Who is affected by the EUDR?
Non-SME operators and traders who place, make available or export the following seven commodities as well as their derived products on the EU market: soy, palm oil, wood, coffee, cocoa, cattle, and rubber. Important to highlight are the derived products, which can include a variety of products and therefore have a massive effect on the scope of affected companies.
Since all affected companies must be EUDR compliant by 30 December 2024, the preparation starts now.