ET Year-end Special Reads
The sign-off from governments finalises a December 2025 start date for the EU’s policy to ban the import of soy, beef, coffee, palm oil and other goods linked to the destruction of forests – which had originally been designed to apply this month.
The delay to the world-first deforestation policy is a blow to the EU’s green agenda, which is facing pushback from industries and some governments that say EU measures to fight climate change are too onerous.
But it offers relief to companies and EU trading partners including the United States and Brazil, which oppose the policy and warn it will upend trade as many firms struggle to comply.
The EU law, initially due to take effect from Dec. 30, 2024, will require companies and traders also placing wood, cocoa, rubber and some derived products like chocolate and furniture onto the EU market to provide proof their supply chain does not contribute to deforestation, or face fines and potentially have their products turned away.
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Companies exporting commodities from Europe would face the same obligations.
