EU strikes deal to consume less commodities linked to deforestation

On June 28, the European Council, the body that sets the political agenda of the European Union (EU), agreed upon a proposal to limit the entry and export of commodities whose production has contributed to “deforestation or forest degradation” worldwide.

The agreement sets rules for operators who work with palm oil, beef, wood, coffee, cocoa, and soybeans, as well as certain derivatives such as leather, chocolate, and furniture.

“We must ensure that the products we consume in Europe do not contribute to the depletion of the planet’s forests. The innovative text we have adopted will make it possible to fight deforestation in the EU and outside it. This is a big step forward that illustrates our ambitions towards the climate and biodiversity,” said the Minister for Energy Transition of France, Agnès Pannier-Runacher.

According to the European Council, EU political leaders also agreed to “simplify and clarify” the environmental due diligence system that governs commodity market activity.

A comparative assessment system was also adopted, classifying the risk of deforestation for specific productions into three levels.

Source: Money Times

To read the full original article, please go to: https://www.moneytimes.com.br/ue-fecha-acordo-para-reduzir-consumo-de-commodities-ligadas-a-desmatamento-global/

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