Featured

Eleven countries demand EU weakens deforestation law further, document shows

 The European Union is facing further pressure from member countries to delay and weaken its upcoming law to restrict deforestation, with 11 governments demanding changes, a document seen by Reuters showed.

The world-first policy aims to end the 10% of global deforestation fuelled by EU consumption of imported soy, beef, palm oil and other products, but has become a politically contested part of Europe’s green agenda.

The EU already delayed its launch by a year to Dec. 2025, following complaints from trading partners including Brazil and the U.S., and cut back reporting rules after industry criticism. Last week, the Commission said it would spare the vast majority of countries the strictest checks.

A group of 11 countries, led by Austria and Luxembourg, has demanded the European Commission simplify the rules further, and urged delaying its application date again.

“The requirements imposed on farmers and foresters remain high, if not impossible to implement. They are disproportionate to the regulation’s objective,” the countries said in a paper, which EU agriculture ministers will discuss in Brussels on Monday.

Bulgaria, Croatia, the Czech Republic, Finland, Italy, Latvia, Portugal, Romania and Slovenia also signed the paper.

From December, the EU policy would require operators placing soy, beef, palm oil, cocoa, coffee and other goods onto the EU market, to provide due diligence statements proving the commodities did not fuel deforestation.

Due diligence requirements would also apply to EU exports, making countries worried about the impact on their own industries.

Companies could face penalties of up to 4% of their EU turnover for non-compliance.

The governments proposed amendments including creating a new class of countries deemed to have very low risk of deforestation, which would be exempt from customs checks and tracking the origin of goods.

A Commission spokesperson did not immediately respond to a request for comment.

Source : Reuters

GLOBAL BUSINESS AND FINANCE MAGAZINE

Recent Posts

AI feedback loops and the conditions for explosive growth

If frontier AI models can be used to develop their next models, this may lead…

2 days ago

The scramble for critical minerals: An old curse in a new world

Lithium, cobalt, nickel, copper, and rare earth elements are reshaping global trade and great-power politics…

2 days ago

Japan’s productivity transformation: From within-firm stagnation to market-driven reallocation

Discussions on Japan’s ‘lost decades’ have long focused on sluggish demand and the survival of…

2 days ago

How the rise of AI matters for fiscal policy

Predictions of the effects of AI on the economy and society tend to focus on…

2 days ago

The anatomy of job polarisation: Evidence from four decades of French worker flows

Employment polarisation – the decline of middle-skill routine occupations relative to both ends of the…

2 days ago

Expanding opportunities: Economics PhD placement in the 21st century

Since 2010, a growing proportion of doctoral graduates have been taking jobs outside academia. This…

2 days ago