New EU deforestation-free products regulation enters into force

The EU Deforestation Regulation enters into force today. This law prohibits the placing on the European market of cattle, cocoa, coffee, oil palm, rubber, soy and wood that is linked to deforestation.

In the coming 2 years, the Commission will also do an impact assessment to evaluate the role of financial institutions in preventing financial flows that contribute directly or indirectly to deforestation and forest degradation and assess the need to provide for any specific obligations for financial institutions in Union legal acts in that regard.

This ground-breaking law has the potential to tackle global deforestation and forest degradation driven by EU consumption. However, this can only be achieved if the law is implemented and enforced properly, thoroughly and consistently. Over 150 civil society organisations are urging all EU Member States to deliver on their legal obligations and keep deforestation off the market. You can read the letter to EU Member States here.