The European Union's Regulation on Deforestation-Free Products (EUDR) aims to combat deforestation and forest degradation, contributing to 10% of global greenhouse gas emissions. Effective December 30, 2024, the EUDR mandates that products imported into the EU must not be produced on land subjected to deforestation or forest degradation. This regulation impacts companies placing defined commodities on the EU market, requiring a statement of compliance to be uploaded to the EUDR public information exchange. Non-compliance may result in fines or exclusion from the EU market. This regulation's global implications emphasize the need for businesses worldwide to adapt their supply chains to meet these sustainability standards.
Originally published by Crowe LLP, 29 August 2024
