On 31 May 2023, the European Parliament and the Council of the European Union (the “EU” or the “Union”) adopted Regulation 2023/1115 on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation (the “Regulation”).
The Regulation seeks to minimise the EU’s contribution to deforestation and forest degradation worldwide by promoting deforestation-free supply chains, thereby reducing greenhouse gas emissions and global biodiversity loss.
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